Who can open a Sukanya Samriddhi Yojana account?

A parent or legal guardian can open one account for each girl child (maximum two) any time from her birth till she turns 10, subject to scheme rules.

Where can I open the account?

You can open a Sukanya Samriddhi Yojana account at a Post Office or at authorised banks across India. Many leading banks facilitate account opening at branches.

What are the tax benefits in Sukanya Samriddhi Yojana?

Deposits are eligible for deductions under the Income Tax Act (as per prevailing rules). Interest and maturity proceeds are tax-beneficial as per scheme norms.

Can I partially withdraw or close the account early?

Partial withdrawal for education is allowed after the girl turns 18, subject to limits. Premature closure is allowed in special cases as per scheme rules.

Sukanya Samriddhi Yojana: Complete Guide for Parents in India

Q: What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a Government of India small savings scheme for the financial security of a girl child, offering attractive interest (notified quarterly), tax benefits, and long-term growth until maturity.

The Sukanya Samriddhi Yojana interest rate is notified by the Government of India every quarter. Always check the latest circular or your bank/post office before depositing.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a long-term small-savings scheme designed to build a dedicated education and marriage corpus for a girl child. With disciplined deposits, attractive government-notified interest, and tax benefits, Sukanya Samriddhi Yojana helps parents invest early and grow their daughter’s future funds in a safe and transparent way. The account can be opened for a girl from birth till she turns 10, and Sukanya Samriddhi Yojana continues until maturity after 21 years from opening (with contribution allowed for a fixed period as per rules).

Key Benefits of Sukanya Samriddhi Yojana

Government-backed safety: Sukanya Samriddhi Yojana is part of the National Small Savings framework.
Attractive interest: Rate notified quarterly; interest is compounded annually in Sukanya Samriddhi Yojana.
Tax advantages: Deposits may qualify for deductions; maturity enjoys favourable tax treatment under Sukanya Samriddhi Yojana norms.
Goal-based savings: Sukanya Samriddhi Yojana supports education and marriage needs for the girl child.
Nationwide access: Open or service your Sukanya Samriddhi Yojana account at Post Offices and authorised bank branches.

Eligibility

Account in the name of a girl child (from birth to under 10 years).
Opened by parent or legal guardian; one Sukanya Samriddhi Yojana account per girl (max two girls; exceptions as per rules).

Documents

Birth certificate of the girl child.
Address & identity proof of parent/guardian.
Passport-size photographs and account opening form for Sukanya Samriddhi Yojana.

How to Open a Sukanya Samriddhi Yojana Account (Step-by-Step)

Visit your nearest Post Office or authorised bank branch and ask for the Sukanya Samriddhi Yojana form.
Carry KYC documents and the girl’s birth certificate; fill the Sukanya Samriddhi Yojana application accurately.
Make the initial deposit as per the scheme rules to activate the Sukanya Samriddhi Yojana account.
Collect the passbook; keep deposit receipts for your Sukanya Samriddhi Yojana records and tax proof.

Deposits, Interest & Maturity in Sukanya Samriddhi Yojana

Under Sukanya Samriddhi Yojana, you can deposit annually within the permitted minimum and maximum limits. Interest is compounded annually and credited to the account. Contributions are allowed for a defined period from account opening; after that, the balance keeps earning interest till maturity. Sukanya Samriddhi Yojana also allows partial withdrawal for higher education once the girl turns 18, and the account matures after 21 years or upon marriage after 18 (subject to rules).

Tax Benefits of Sukanya Samriddhi Yojana

Deposits in Sukanya Samriddhi Yojana may be eligible for deductions under the Income Tax Act (as per prevailing provisions). Interest and maturity amounts receive favourable tax treatment in Sukanya Samriddhi Yojana, helping families save more efficiently for long-term goals. Always retain your Sukanya Samriddhi Yojana passbook and deposit proofs for tax filing.

Authorised Resources & Forms

For additional reading and branch-level processes, check these resources:
• Bank information page: Axis Bank – Sukanya Samriddhi Account

FAQs on Sukanya Samriddhi Yojana

Is the Sukanya Samriddhi Yojana interest rate fixed?

Interest under Sukanya Samriddhi Yojana is notified every quarter by the Government of India and is compounded annually.

Can NRIs open a Sukanya Samriddhi Yojana account?

Scheme rules apply; typically, the account is for residents. Check the latest guidelines before applying for Sukanya Samriddhi Yojana.

What is the minimum deposit in Sukanya Samriddhi Yojana?

The minimum and maximum deposit limits are set by the scheme and may be revised. Confirm the latest limits at your Post Office or bank for Sukanya Samriddhi Yojana.

Can I transfer my Sukanya Samriddhi Yojana account?

Yes. Sukanya Samriddhi Yojana accounts can be transferred between Post Offices and authorised banks, subject to documentation.

When can I withdraw money?

Partial withdrawal for education is allowed after the girl turns 18 under Sukanya Samriddhi Yojana. Full maturity is after 21 years from account opening or upon marriage after 18, as per rules.

Sukanya Samriddhi Yojana: Benefits, Eligibility, Documents & Online Account Guide (2025)