Sukanya Samriddhi Yojana 2024: Online Form & Complete Details

Sukanya Samriddhi Yojana Apply Online & Application Form | Sukanya Samriddhi Yojana Check Investment & Tenure | Sukanya Samriddhi Yojana Check Features & Benefits | Sukanya Samriddhi Yojana Check Interest Rate & Banks List | Sukanya Samriddhi Yojana Check Eligibility & All Details |

The Central Government has launched the Sukanya Samriddhi Yojana, a savings scheme operated by the government to secure the future of daughters. It offers income tax exemption and higher interest rates to encourage people to invest. This scheme allows lump sum investments for a daughter’s education or marriage. One can apply online before the last date to get timely registration. One can check the required details.

Through this article, we will provide you with all types of information about the Sukanya Samriddhi Yojana 2024 like purpose, Eligibility Criteria, Benefits, Features, important documents, etc. Apart from this, we will share with you the process to apply online for this scheme. To get complete information about this scheme, read this article till the end.

Sukanya Samriddhi Yojana

The Indian Government has launched the Sukanya Samriddhi Yojana so that the applicants will be able to access this scheme. It requires opening an account before the daughter turns 10. The minimum investment is Rs. 250 and the maximum is Rs. 1.5 lakh. The money can be used for the daughter’s education or marriage. The government offers an interest rate of 7.6% on the investment.

The Government of India has launched the Sukanya Samriddhi Yojana under the Beti Bachao Beti Padhao initiative. It provides tax exemption on investments made under this scheme. The account can be opened in authorized post offices or commercial branches. It can be operated until the daughter reaches the age of 21 or gets married after the age of 18. 

Sukanya Samriddhi Yojana: Online Form & Complete Details

Highlights Of Sukanya Samriddhi Yojana

The highlights of this scheme are as follows:- 

Name of the SchemeSukanya Samriddhi Yojana
Known AsSSY
Launched byCentral Government
Allotted PortalNsiindia Portal
Applicable toCitizens of India
ObjectiveTo provide financial security for girls under the age of 10 in India
BenefitThis will support girls’ education and marriage expenses
Beneficiary CategoryGuardians of Girls
Age Limit10 Years
Minimum InvestmentRs. 250/-
Maximum InvestmentRs. 1.50 Lakhs
Interest Rates7.6%
Maturity Period15 Years
Form of BenefitFacilitation of Bank Accounts
Mode of applicationOnline or Offline
Last Date To Apply OnlineWill be updated soon
Office AddressOffice of the Director,
National Savings Institute
Ministry of Finance (DEA) Govt. of India
1st Floor,
Indian Council For Child Welfare
4,Deen Dayal Upadhayaya Marg,
New Delhi-110002

Objectives of Sukanya Samriddhi Yojana

The major objective of the Sukanya Samriddhi Yojana is to encourage and promote the financial security and education of girls in India. It aims to provide tax exemptions and a savings platform for parents to save money for their daughters’ future education and marriage expenses. The scheme allows for easy and convenient digital deposits, eliminating the need for physical visits to the post office.

Another objective of launching the Sukanya Samriddhi Yojana is to provide financial security for girls under the age of 10 in India. The schemes allow guardians to open savings accounts for their girls, with a maximum deposit of Rs 1.5 lakh per year. The schemes aim to support girls’ education and marriage expenses, providing a secure future for them and their families.

Beneficiary Category

The applicants will need to attain the beneficiary category for which the scheme has been launched. This scheme can only be undertaken by the residents who have attained the beneficiary category. The benefits of this scheme can be undertaken by the Citizens of India whose daughters are in the age limit of 10 years and can open their bank accounts in their names.

Sukanya Samriddhi Yojana Premium Amount

The amount of premium that can be submitted is as follows:- 

Minimum Amount Rs. 250/- 
Maximum Amount Rs. 1,50,000/-

Applicable Interest Rate

This government scheme offers a lucrative interest rate of 7.6% on investments. It provides individuals with a great opportunity to grow their savings and earn passive income. With this reliable and secure investment option, investors can rest assured that their money is in safe hands, ensuring financial stability and confidence. Don’t miss out on this beneficial scheme!

Historical Sukanya Samriddhi Yojana Interest Rates

The trend analysis of interest rates for this scheme is as follows:-

Time PeriodSSY Interest Rate (% annually)
April to June 2023 (Q1 FY 2023-24)8
January to March 2023 (Q4 FY 2022-23)7.6
October to December 2022 (Q3 FY 2022-23)7.6
Jul to Sep 2022 (Q2 FY 2022-23)7.6
Apr to Jun 2022 (Q1 FY 2022-23)7.6
Jan to Mar 2022 (Q4 FY 2021-22)7.6
Oct to Dec 2021 (Q3 FY 2021-22)7.6
Jul to Sep 2021 (Q2 FY 2021-22)7.6
Apr to Jun 2021 (Q1 FY 2021-22)7.6
Jan to March 2021 (Q4 FY 2020-21)7.6
Oct to Dec 2020 (Q3 FY 2020-21)7.6
Jul to Sep 2020 (Q2 FY 2020-21)7.6
Apr to Jun 2020 (Q1 FY 2020-21)7.6
Jan to March (Q4 FY 2019-20)8.4
Oct to Dec 2019 (Q3 FY 2019-20)8.4
Jul to Sep 2019 (Q2 FY 2019-20)8.4
Apr to Jun 2019 (Q1 FY 2019-20)8.5
Jan to March 2019 (Q4 FY 2018-19)8.5
Oct to Dec 2018 (Q3 FY 2018-19)8.5
Jul to Sep 2018 (Q2 FY 2018-19)8.1
Apr to Jun 2018 (Q1 FY 2018-19)8.1
Jan to March 2018 (Q4 FY 2017-18)8.1
Oct to Dec 2017 (Q3 FY 2017-18)8.3
Jul to Sep 2017 (Q2 FY 2017-18)8.3
Apr to Jun 2017 (Q1 FY 2017-18)8.4

Education & Marriage Savings for Girls

The Sukanya Samriddhi Account is a government-backed savings scheme for the welfare of girl children in India. It can be used until the daughter reaches the age of 21 or gets married after turning 18. From the age of 18, half the money deposited in the account can be withdrawn for the purpose of her education. 

Tax Benefits for SSY Investments

The Income Tax Act allows for tax deduction on investments made in the SSY scheme, up to a maximum of 1.5 lakh. The scheme provides annual interest on the investment, which is not taxable. Parents or legal guardians of the girl child can claim the tax exemption. Only one person can claim the exemption under section 80C.

Sukanya Samriddhi Yojana Empanelled Banks 

The list of empanelled banks is as follows:- 

  • Allahabad Bank
  • State Bank Of India (SBI)
  • Axis Bank
  • Andhra Bank
  • Bank Of Maharashtra (BOM)
  • Bank Of India (BOI)
  • Corporation Bank
  • Central Bank Of India (CBI)
  • Canara Bank
  • Dena Bank
  • Bank Of Baroda (BOB)
  • State Bank Of Patiala (SBP)
  • State Bank Of Mysore (SBM)
  • Indian Overseas Bank (IOB)
  • Indian Bank
  • Punjab National Bank (PNB)
  • IDBI Bank
  • ICICI Bank
  • Syndicate Bank
  • State Bank Of Bikaner And Jaipur (SBBJ)
  • State Bank Of Travancore (SBT)
  • Oriental Bank Of Commerce (OBC)
  • State Bank Of Hyderabad (SBH)
  • Punjab And Sind Bank (PSB)
  • Union Bank of India
  • UCO Bank
  • United Bank Of India
  • Vijay Bank

Multiple Sukanya Samriddhi Accounts for Girls in Special Cases

In special cases, more than two Sukanya Samriddhi Accounts can be opened for girls. This includes scenarios where a girl is born before twin or triplet girls, or if triplets are born first. However, if a girl is born after twin or triplet girls, a third account cannot be opened. But before this, only one bank account is allowed to open.

Important Instructions 

Some important instructions issued for students are as follows:- 

  • The Finance Ministry has issued a notification stating that it is now mandatory to provide your Aadhaar number and PAN when opening a new Sukanya Samriddhi Yojana (SSY) account.
  • If you don’t have an Aadhaar number yet, you must provide proof that you have applied for one, or provide your enrollment ID. You will then need to furnish your Aadhaar number to the accounts office within 6 months of opening the account.
  • If you already have an existing SSY account but haven’t submitted your Aadhaar number, you must do so within 6 months from 1st April 2023.
  • Additionally, if you didn’t provide your PAN number when opening the account, you must submit it within a period of 2 months from the date of certain events. These events include having a balance of more than Rs. 50,000 in the account at any point in time, having credits exceeding Rs. 1 Lakh in a financial year, or having withdrawals and transfers exceeding Rs. 10,000 in a month.
  • If you fail to submit your Aadhaar number within 6 months or your PAN number within 2 months, your account will become inoperational until you provide the necessary information to the accounts office.

Guaranteed Returns

The Sukanya Samriddhi Yojana (SSY) is a government-backed scheme that provides guaranteed returns. This means that investors can be assured of earning a certain amount of money on their investment. Citizens can get some assurance from this statement that they will be able to get or receive returns after investing a premium amount in the bank account.

Sukanya Samriddhi Yojana Flexible Investment

The SSY scheme allows for flexible investment options. Investors can make a minimum deposit of Rs. 250 in a year, making it accessible to people with different financial standing. Additionally, they can also make a maximum deposit of Rs. 1.5 lakh in a year, allowing for higher returns. So this can be proven a flexible investment option among investors.

Benefit of Compounding

The SSY scheme is a great option for long-term investments due to the benefit of annual compounding. This means that even small investments can generate higher returns over time. With compounding, the interest earned on the initial investment is reinvested, leading to exponential growth. So this can be the major benefit of compounding.

Sukanya Samriddhi Yojana Convenient Transfer

One of the advantages of the SSY scheme is the ability to freely transfer the account from one part of the country to another. This can be useful in cases where the parent or guardian operating the account needs to relocate. The transfer can be done between a bank and a post office, ensuring convenience for the account holder.

Encouraging Early Financial Awareness

By empowering daughters with bank accounts from an early age, we instill a sense of financial responsibility and awareness. They learn valuable skills like budgeting, saving, and understanding the importance of financial independence. These foundational financial habits lay the groundwork for future financial success.

Promoting Gender Equality

This scheme for daughters at age 10 promotes gender equality by creating equal opportunities for girls to develop financial literacy. By emphasizing the importance of banking access for girls, societies can challenge traditional gender norms and foster a more equitable future. This will also forbid gender inequality. 

Enhancing Educational Opportunities

Providing bank accounts to 10-year-old daughters can enhance their access to various educational opportunities. A bank account enables parents to save for their daughters’ education, reducing financial barriers to quality schooling. This empowers young girls with the tools they need to pursue higher education and expand their horizons.

Building Savings for Future Investments

Through this scheme, daughters can begin saving for future investments as early as 10 years old. These savings can be utilized for higher education, professional training, or starting businesses. Such early exposure to wealth accumulation encourages financial stability and contributes to the nation’s economic growth. 

Fostering Entrepreneurial Mindsets

With access to bank accounts, daughters can explore entrepreneurship and develop innovative ideas. By inculcating a spirit of entrepreneurship from a young age, we can create a generation of financially independent individuals who actively contribute to the nation’s economic development. This will also create or generate employment opportunities for others.

Sukanya Samriddhi Yojana Tenure/Maturity Period

The Sukanya Samriddhi Yojana has a tenure that is equal to the time the girl child is 21 years old or upon her marriage after attaining the age of 18 years. However, contributions only need to be made for 15 years. After this period, the SSY account continues to earn interest until maturity, even if no further deposits are made.

Premature Closure of Sukanya Samriddhi Yojana Account

The premature Closure of Sukanya Samriddhi Yojana account can be done in the below-mentioned cases:-

  • Premature closure of the SSY account can only be done by the girl child when she turns 18 and needs the money for marriage expenses.
  • There are special cases where the account can be closed and money is withdrawn.
  • If the girl child passes away, her parents or legal guardian can claim the final amount and interest.
  • The account can also be closed if the depository is unable to continue it or if the contributor is facing financial stress, with permission from competent authorities.

Selection Procedure

The selection procedure for opening a Sukanya Samriddhi Yojana account is simple and straightforward. The account can be opened by the natural or legal guardian of a girl child below the age of 10 years. The guardian needs to visit the nearest post office or authorized bank branch and submit the necessary documents, including the birth certificate of the girl child and proof of identity and address of the guardian. Once the account is opened, the guardian will receive a passbook, which will serve as a record of all transactions.

Implementation Procedure

After the account is opened, the guardian can start making deposits into the Sukanya Samriddhi Yojana account. The minimum deposit amount is Rs. 250, and the maximum deposit amount is Rs. 1.5 lakh per financial year. The deposits can be made in cash, check, or demand draft. It is important to note that the account will remain active until the girl child reaches the age of 21 years. After that, the account will continue to earn interest until the completion of 21 years, but no further deposits can be made.

Supervision Body

The Sukanya Samriddhi Yojana is supervised by the Ministry of Finance, Government of India. The scheme is implemented through authorized banks and post offices across the country. These institutions are responsible for opening and maintaining the accounts, accepting deposits, and providing necessary assistance to the account holders. The government regularly monitors the scheme to ensure its smooth functioning and to make any necessary policy changes.

Key Guidelines

Here are some key guidelines to keep in mind while availing the benefits of the Sukanya Samriddhi Yojana-

  • The account can be opened only for a maximum of two girl children in a family.
  • The age of the girl child should be below 10 years at the time of account opening.
  • The account can be opened with a minimum deposit of Rs. 250.
  • The maximum deposit amount allowed in a financial year is Rs. 1.5 lakh.
  • The account can be operated by the guardian until the girl child reaches the age of 10 years. After that, the girl child can operate the account herself.
  • The account will earn a higher rate of interest compared to other savings schemes.
  • The account can be closed prematurely in case of the girl child’s marriage after attaining the age of 18 years.
  • The account can also be closed prematurely in case of the girl child’s death.
  • The account can be transferred from one post office or bank branch to another.
  • The account can be extended for a maximum of two times, each for a period of 5 years.

Important Instructions

Here are some important instructions to follow while managing a Sukanya Samriddhi Yojana account:-

  • Regularly check the account balance and interest earned.
  • Make timely deposits to ensure maximum returns.
  • Keep the passbook and account documents in a safe place.
  • Update any change in the guardian’s address or contact details with the bank or post office.
  • Ensure compliance with the rules and regulations of the scheme.
  • Seek guidance from the authorized institutions in case of any queries or concerns.
  • Encourage the girl child to actively participate in managing her account.
  • Utilize the maturity amount for the girl child’s higher education or marriage expenses.
  • Spread awareness about the Sukanya Samriddhi Yojana among friends and family.
  • Take advantage of the tax benefits offered under Section 80C of the Income Tax Act.

Tips and Tricks

Here are some tips and tricks to make the most out of the Sukanya Samriddhi Yojana:-

  • Start investing early to maximize the compounding effect.
  • Consider setting up an automatic deposit system to ensure regular contributions.
  • Explore the option of transferring the account to a higher interest rate bank or post office.
  • Encourage friends and relatives to gift contributions to the girl child’s account on special occasions.
  • Stay updated with any changes or updates in the scheme through official government sources.
  • Monitor the interest rates offered by different banks or post offices to choose the best option.
  • Keep track of the maturity date and plan the utilization of the funds accordingly.
  • Consider seeking professional financial advice to optimize the benefits of the scheme.
  • Encourage the girl child to develop a habit of saving and financial planning.
  • Spread awareness about the importance of girl child education and empowerment.

Benefits Of Sukanya Samriddhi Yojana 

The benefits of this scheme are as follows:- 

  • This scheme has been launched under the Beti Bachao Beti Padhao scheme, emphasizing the importance of saving for the girl child’s future.
  • The account can be opened in any authorized branch of the post office or commercial branch.
  • The account can be operated till the daughter attains the age of 21 years or until she gets married after the age of 18 years.
  • 50% of the amount can be withdrawn after the age of 18 for the higher education of the daughter.
  • Money can now be deposited in the account through the digital savings account service in the post office, eliminating the need to visit the post office in person.
  • Account holders can transfer money through their mobile devices, making it convenient and hassle-free.
  • This scheme provides a secure savings option specifically tailored for the future education and marriage expenses of the girl child.
  • By offering a digital account and convenient banking services, this scheme promotes financial inclusion
  • This will also encourage more people to save for their daughters’ future.

Features Of Sukanya Samriddhi Yojana 

The features of this scheme are as follows:- 

  • The Central Government has launched the Sukanya Samriddhi Yojana.
  • The account can be opened in the name of a girl child until she reaches the age of 10 years.
  • Only one account can be opened for a girl child.
  • Accounts can be opened in Post Offices or notified branches of commercial banks.
  • The birth certificate of the girl child must be produced and submitted at the time of opening the account.
  • Minimum deposit amount of Rs. 250 and subsequent deposits in multiples of Rs. 50.
  • Deposits can be made until completion of 14 years from the date of opening the account.
  • A minimum deposit of Rs. 250 must be made per financial year.
  • Interest is calculated on a yearly compounded basis and credited to the account.
  • A maximum deposit limit of Rs. 1,50,000 per financial year can be made. 

Sukanya Samriddhi Yojana Eligibility Criteria 

The applicants will need to attain the below-mentioned points to apply online for this scheme:- 

  • The applicant must be an Indian citizen.
  • The father must open a bank account for his daughter in the age group of 10 years. 
  • A maximum of 2 bank accounts of girls can be opened by a single family. 

Important Documents 

Some of the important documents required to apply online for this scheme are as follows:- 

  • Aadhar Card
  • Residence Certificate
  • Girl Child Birth Certificate
  • Income Certificate 
  • Educational Certificates 
  • Bank Account Details 
  • Latest Passport Photos 
  • Mobile No
  • Email ID 

Sukanya Samriddhi Yojana Apply Online 

As this scheme has been recently launched no such information has been released with the help of various social networking sites regarding the application procedure to apply online for the Sukanya Samriddhi Yojana. Whenever the application procedure is launched, we will update you through this article otherwise, the applicant can visit the Official Website.

Sukanya Samriddhi Yojana Apply Online 

Sukanya Samriddhi Yojana Apply Offline

The applicants will need to attain the below-mentioned points to apply offline for this scheme:-

  • Visit either the bank or the Post Office where you want to open an SSY (Sukanya Samriddhi Yojana) account.
  • Fill out an application form with all the necessary information and attach any required supporting documents.
  • Pay your first deposit in cash, check, or demand draught. The amount can be anywhere between Rs.250 and Rs.1.5 lakh.
  • The bank or Post Office will process your application and payment.
  • Once processed, your SSY account will be activated.
  • You will be provided with a passbook.

Getting Contact Details

The applicants will need to follow the below-mentioned points to get contact details:-

  • The applicant will need first to visit the official website.
  • The homepage will be displayed on your screen.
  • Now you will need to click on the Contact Us link.
Getting Contact Details
  • The contact details will be displayed on the screen.

Contact Information

In case queries and questions come to your mind regarding the Sukanya Samriddhi Yojana, then you may contact this mentioned office address, & email ID:-

  • Office Address:-
    • Office of the Director,
    • National Savings Institute
    • Ministry of Finance (DEA) Govt. of India
    • 1st Floor,
    • Indian Council For Child Welfare.
    • 4,Deen Dayal Upadhayaya Marg,
    • New Delhi-110002
  • Email

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