The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme aimed at securing the future of your daughter.
It offers high, tax-free returns and is ideal for long-term goals like her higher education or marriage.
With an interest rate of 8.2% per annum, investing even a small amount regularly can grow into a significant corpus.
For example, by investing ₹1 lakh per year, parents can potentially accumulate ₹46.18 lakh by maturity, making SSY a safe and rewarding investment option.
What is Sukanya Samriddhi Yojana (SSY)?
SSY is a small savings scheme for girl children, providing financial security and tax benefits.
The money saved in this account can be used later for her education, health, and overall well-being.
Key Features
Interest Rate: 8.2% per annum, compounded annually.
Minimum Deposit: ₹250 per year
Maximum Deposit: ₹1,50,000 per year
Deposits can be made as lump sum or multiple installments in multiples of ₹50, with no monthly limit.
Eligibility and Account Details
A guardian can open an account for an Indian girl below 10 years of age.
The account can be operated until she turns 18, after which she takes over.
Families can open up to two accounts (exceptions for twins or triplets), and each girl can hold only one account.
Investment Tenure and Maturity
Investments are made for 15 years, but the account matures after 21 years.
After 15 years, no further deposits are required.
The maturity amount is paid as a lump sum and is fully tax-free, ready to be used for her education, marriage, or other needs.
How Your Investment Grows
By investing ₹1 lakh annually, your total contribution over 15 years is ₹15 lakh.
The investment earns ₹31.18 lakh in interest, resulting in a total corpus of ₹46.18 lakh at maturity.
Premature Account Closure
The SSY account can only be closed before five years under special circumstances:
Medical treatment for a life-threatening illness
Death of the guardian operating the account
Situations causing undue financial hardship
Financial Independence for Your Daughter
A disciplined investment in SSY ensures that your daughter’s higher education and marriage expenses are covered without financial stress.
It gives her financial freedom and security, making it a reliable choice for every parent planning for their daughter’s future.
