Sukanya Samriddhi Yojana: The Sukanya Samriddhi Yojana (SSY), a flagship savings scheme for the girl child, completes 11 years on January 22, 2026, having emerged as one of the government’s most widely adopted financial initiatives under the Beti Bachao, Beti Padhao campaign. Launched in 2015, the scheme was conceived to encourage families to plan early for a girl child’s education and future needs, while also addressing long-standing concerns around financial security and gender equality.
Over the past decade, SSY has grown into a nationwide movement. According to official data, more than 4.53 crore accounts have been opened since the scheme’s inception, reflecting strong public trust. The initiative combines financial planning with social objectives, positioning savings for daughters not merely as an economic choice but as a step towards broader empowerment.
Strong returns and government backing
The Sukanya Samriddhi Yojana is a low-risk, government-backed deposit scheme that guarantees both principal and interest, with rates notified quarterly and credited annually.
The current interest rate in the SSY scheme of 8.2% per annum is among the highest for savings instruments dedicated to daughters.
The scheme is designed to help meet major life expenses such as education and marriage, while encouraging long-term savings habits within families. By focusing on education and financial independence, SSY aligns with the government’s vision of strengthening women’s participation in India’s future growth.
Who can open an SSY account and how it works
An SSY account can be opened by parents or legal guardians for an Indian girl child at post offices or authorised public and private sector banks. The account can be opened anytime from the child’s birth until she turns 10 years old. Only one account is permitted per girl child, with a maximum of two accounts per family, except in cases of twins or triplets, subject to documentation.
The account remains under the control of the parent or guardian until the girl turns 18, after which she can manage it independently. Required documents include the account opening form, the girl child’s birth certificate, Aadhaar details, and PAN or Form 60.
Deposits, interest and withdrawals
Parents can begin with a minimum annual deposit of ₹250, with contributions allowed up to ₹1.5 lakh per financial year. Deposits can be made for up to 15 years from the date of opening.
Total deposits in SSY accounts have crossed ₹3.33 lakh crore as of December 2025.
Interest is calculated monthly and credited at the end of each financial year, even if the account is transferred between banks or post offices. Partial withdrawals of up to 50% of the balance are permitted for educational purposes once the girl reaches 18 years of age or passes Class 10, subject to documentation.
Maturity, early closure and long-term impact
The SSY account matures after 21 years from the date of opening. Early closure is allowed only under specific conditions, such as marriage after the age of 18 or in the event of the account holder’s death, with clear procedural safeguards in place.
Investments under the scheme are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. The scheme offers flexible deposits, allowing a minimum annual contribution of Rs 250 and a maximum of Rs1.5 lakh, along with the option of partial withdrawals. Even after maturity, if the account is not closed, it continues to earn interest at the rate applicable to Post Office Savings Accounts.
As India continues to focus on gender equity and inclusive growth, the scheme remains a key pillar in supporting girls’ education, financial security and independence, ensuring that savings grow alongside their aspirations.