What is Sukanya Samriddhi Yojana? Eligibility, How to Apply, and Benefits Explained

Sukanya Samriddhi Yojana is a savings scheme for the girl child in India, it is one of the highest paying and lowest risk savings scheme available for Indian parents today. But most of the people are unaware of the rules, eligibility and exact steps to open the account. Let us explore the Sukanya Samriddhi Yojana in detail and also learn about how to apply, eligibilty and rules.

What Is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a small saving scheme launched by the Government of India in 2015 under the Beti Bachao, Beti Padhao initiative. In this scheme a parent or a legal guardian can open a long term savings account in the name of the girl child, which will be useful for building funds for her education and marriage. The scheme is backed by the government and hence is risk free.

Sukanya Samriddhi Yojana - Eligibility

The eligibility for opening a Sukanya Samriddhi Yojana account is as follows:

1.  The girl child should be less than 10 years at the time of opening of the account.

2.  The account can be opened by one of the parents or a legal guardian of the child.

3.  Only one account can be opened for the girl child.

3.  A maximum of only two Sukanya Samriddhi Yojana accounts can be opened in a family with the exception that the first born or second born child are not born as twins or triplets.

Here is a more detailed explanation of the same rule as per theSukanya Samriddhi Account Scheme, 2019:

An account under this Scheme may be opened for a maximum of two girl children in one family:

Provided that more than two accounts may be opened in a family if such children are born in the first or in the second order of birth or in both, on submission of an affidavit by the guardian supported with birth certificates of the twins/triplets regarding the birth of such multiple girl children in the first two orders of birth in a family:

Provided further that the above proviso shall not apply to girl child of the second order of birth, if the first order of birth in the family results in two or more surviving girl children. 

Sukanya Samriddhi Yojana - Deposit Rules

The following are the deposit rules for Sukanya Samriddhi Yojana:

1. The account should be opened with a deposit of minimum Rs.250, and subsequent deposits shall be in multiples of 50 rupees, a minimum of Rs.250 should be deposited in the account annually.

2. The maximum deposit in the account should not exceed Rs 1,50,000 in a year.

3. Deposits can be made in the account for a maximum period of 15 years.

4.  If the minumim deposit of Rs.250 is not made in a year, then the account will be considered as default.

How Do You Apply for Sukanya Samriddhi Yojana?

The process for applying a Sukanya Samriddhi Yojana account (SSA) is simple, you have to visit the nearest post office or authorised bank branch to open the account. It is SSA-1 form in post office and Form-1 in banks. Fill in the details of the girl child exactly as per the birth certificate along with the guardian's details.

What are the Documents required for applying for Sukanya Samriddhi Yojana?

The following documents are required for the opening of Sukanya Samriddhi Yojana account.

1. Birth Certificate of the Girl Child.

2. Identity and Address proof of the parent or guardian, along with passport size photographs.

3. Submit the form with an inital deposit of atleast Rs.250 in the post office or bank counter.

4. The account opening process typically takes 3-5 days, once it is done collect the passbook which contains account number, IFSC code and maturity date of the scheme.

What are the rules for Maturity and Withdrawal of the Sukanya Samriddhi Yojana Account?

The SSA account attains maturity once the girl child attains the age of 21 years. For withdrawals of the fund from the account it is permitted once the girl has attained 18 years or passed 10th standard whichever is earlier. The withdrawal is capped at 50% for the same, and requires furnishing of documents indicating admission to any institute or a fee slip of the institution indicating financial requirement.

The full amount can be withdrawn once the account has attained maturity at 21 years. One exception is that premature closure of the account can also take place in the event of marriage of the girl after 18 years of age or any time before 21 years.

Note: The account will be transferred under the girl child's name once she attains 18 years of age, and on successful production of required address and identity proof documents.

What Are the Key Benefits of Sukanya Samriddhi Yojana?

The following are the benefits of Sukanya Samriddhi Yojana as of 2026:

1. High rate of interest, capped at 8.2% per annum for the July-September 2026 quarter, which is higher than most fixed deposit schemes ad Public provident funds or PPF.

2. This scheme is EEE status, which means deposits qualify for deduction under Section 80C, and the interest and maturity amount is also exempt from tax.

3. Partial withdrawal up to 50% once girl child attains 18 years, or completes class 10, for higher education purposes. Full withdrawal after 21 years.

4. The account can be transferred to any post office or authorised bank branch in India.

5.  The account enjoys the benefits of compounding, deposit for 15 years, but the balance amount compounds till 21 years.

Can a family open more than two Sukanya Samriddhi accounts?

No in most cases but the only exception is that a family can open more than two accounts only in case where the second birth results in twins or triplets, or the first birth is a twin or a triplet. But in such cases maximum account limit is 3.

Can NRIs open a Sukanya Samriddhi Yojana account?

No, the scheme is currently not available for NRI's, it is only for resident Indian girl child.

What happens if the annual deposit falls below ₹250?

If the annual deposit falls below Rs.250 then the account will be treated as default, and it can be activated anytime within the first 15 years of account opening by paying Rs.50 for every missed year of paymentand the minumum deposit for each of the defaulted year.

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Disclaimer: This article is for general information only and should not be considered a financial advice. The interest rates, tax rules and scheme conditions are revised periodically by the Government of India, please confirm the same at the time of account opening with the post office or authorised bank.