Sukanya Samriddhi Yojana (SSY)

SSY is a government-backed scheme to build a long-term corpus for a girl child. It offers an attractive, government-notified interest rate reviewed quarterly.

Parents/guardians can deposit within annual limits until a defined period, with the account maturing near the child’s adulthood.

SSY enjoys tax benefits as per prevailing law and provides partial withdrawal for education after certain conditions are met.

Ideal as the safe core of a child’s portfolio alongside equity SIPs for growth.

Sovereign-backedTax benefitsLong lock-in

Eligibility & Key Features

  • For a girl child under the specified age at account opening; one account per child (limits on number of accounts per family apply).
  • Deposits permitted up to the annual maximum; minimum yearly deposit required to keep the account active.
  • Interest rate is government-notified and reviewed quarterly.
  • Lock-in with partial withdrawal allowed for education under defined conditions; account matures as per scheme rules.

How to Invest

  1. Visit a participating bank branch or post office with KYC (guardian + child), birth certificate, photographs.
  2. Fill the SSY account opening form; make the initial deposit (cash/cheque/transfer).
  3. Enable standing instructions/auto-debit for yearly or monthly contributions.
  4. Track passbook/online statement and ensure minimum annual deposit is met.

Taxation (Indicative)

SSY currently enjoys tax benefits as per prevailing provisions; verify latest limits and rules before investing.

Education only; not investment advice. Please verify current rules, interest rates, and taxation before investing.