Sukanya Samriddhi Yojana 2026: Eligibility, Benefits and Rules

Sukanya Samriddhi Yojana (SSY) is one of the small savings schemes by the government which aims to foster savings in the long term for the financial purposes of a girl child. Introduced in 2015 under the program named ‘Beti Bachao, Beti Padhao’, the scheme facilitates eligible parents or legal guardians to open an account on behalf of the girl child who is less than 10 years of age. By considering the interest rate offered, tax benefit and long-term investment horizon, along with other factors, SSY is a relevant subject for the personal finance education and exam purpose.

What Is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a small savings scheme introduced by the Government of India for girl children in 2015. The parent or the legal guardian of the girl child can open the account for her at an authorised bank/post office.

The scheme is meant for building a special corpus fund for meeting future financial needs of the girl child. Deposits can be made for 15 years, and the account usually matures when the girl child becomes 21 years old from the date of account opening.

Sukanya Samriddhi Yojana Eligibility Criteria

The major criteria are,

• The account should be opened under the name of a girl child less than 10 years old.
• This account should be opened by the girl’s parent/legal guardian.
• In general, only one account can be opened in the name of the girl child.
• A family can open accounts for up to 2 girl children at most.
• In case of twins/triplets, there are some exceptions applicable according to the rules.

The plan is meant to be used by those girl children who are eligible residents of India; the plan is not available for NRIs’ girl children.

Sukanya Samriddhi Yojana Contribution Limit

There are the following minimum and maximum limits of contributions,

• Minimum first time deposit amount: ₹250
• Minimum yearly contribution: ₹250
• Maximum yearly contribution: ₹1.5 lakh
• Yearly contributions can be made for 15 years starting from the moment of opening of the account.
• Contributions can be made in the multiple of ₹50.

In case the minimum yearly contribution is not made, the account is considered to be in default.

How to Open Sukanya Samriddhi Yojana?

SSY account can be opened through the post office or bank where the scheme is offered by visiting there.

The steps involved are,

• Get and fill up the form for opening Sukanya Samriddhi Account.
• Give information about birth of the girl child along with the parent/guardian details.
• Get the KYC and other necessary documentation done.
• Deposite the first amount of not less than ₹250.
• On completion of the process, get the account passbook.

Documents Needed

The documents needed includes,

• Birth Certificate of the Girl Child
• Proof of Identity and Address of Parent/Guardian
• Passport sized Photograph
• Form for Opening Sukanya Samriddhi Account
• First Deposit

Interest Rate, Maturity, and Premature Withdrawal Conditions

The SSY interest rate is provided by the Government and may fluctuate from time to time. The interest rate as per the quarter July-September 2026 as per the given source material is 8.2% per annum.

Maturity occurs at the end of 21 years from the date of opening of the account, but deposits are made for only the first 15 years.

For purposes of higher education, partial withdrawals up to 50% of the eligible balance are allowed subject to conditions prevailing in the scheme and age requirements.

In the following conditions, premature closure of the account is allowed:

If the girl gets married after reaching the prescribed age.

Benefits of Sukanya Samriddhi Yojana

Some of the key benefits of SSY are as follows,

• Government backed savings: It is a small savings scheme that is backed by the Government of India.
• High interest rate: The interest rate is notified from time to time by the government.
• Tax benefits: Payments made to the scheme can be claimed as a deduction under Section 80C of the Income Tax Act.
• Compounding of interest: The interest can keep earning on the balance even after the expiry of the payment period till maturity.
• Higher education assistance: Partial withdrawals allowed under the scheme can help in meeting higher education expenses.
• Transferability: Transfer of the account is allowed between eligible post offices and designated banks in India.