Sukanya Samriddhi Yojana (SSY): If you have a daughter and want to save for her future, Sukanya Samriddhi Yojana is a great choice.
The good news is that for the April to June 2025 quarter, the government has kept the interest rate steady at 8.2% per annum.
This continues to be the highest interest rate among small savings schemes.
What is Sukanya Samriddhi Yojana?
This scheme is specially designed to support the education and marriage expenses of girls.
Parents or guardians can open an account in the daughter’s name and grow their savings over time.
It is a safe and trustworthy scheme, as it runs under the Beti Bachao, Beti Padhao initiative of the government.
How Much Can You Deposit?
You can open an account with just Rs 250. Each year, you can deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh.
You can deposit the amount once a year or in monthly installments of Rs 50 or more — whatever suits you best.
What Are the Benefits?
This scheme gives compound interest, meaning the interest keeps getting added to your savings, helping your money grow faster.
Plus, the interest and maturity amount are completely tax-free. The account matures in 21 years, after which you get the entire amount tax-free.
Can You Withdraw Money for Education?
Yes, you can. Once your daughter turns 18 or passes Class 10, you can withdraw up to 50% of the amount in the account to pay for her education.
This money can be taken all at once or yearly for up to 5 years, depending on your needs.
When Can the Account Be Closed Early?
Though the account runs for 21 years, it can be closed after 5 years in certain cases — such as the death of the daughter, serious illness, or death of the guardian.
You Can Also Close the Account for Marriage
If your daughter gets married after the age of 18, the account can also be closed at that time, and the money can be used for wedding expenses.
