Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana Account, popularly known as SSA, is basically a savings scheme that is especially designed for the welfare and benefits of the girl child, evident enough by the name. Introduced by the Ministry of Finance and launched by the Prime Minister of India, Mr. Narendra Modi, on 22nd January 2015, the SSA is a part of the ‘Beti Bachao Beti Padhao‘ campaign.

The Government of India has made the Sukanya Samriddhi Yojana easily accessible and reachable to female citizen by enabling them to open an account available at any post office.

You can also open a Sukanya Samriddhi Yojana account at any one of its extensive list of authorized banks. The initial deposit can range between Rs. 250 and Rs. 1,50,000 annually, as per the financial objectives of the account holder depending on the nature of income. The subsequent deposits can be made in multiples of Rs.100.

While the procedure says, account holder has to pay towards Sukanya Samriddhi Yojana savings scheme for 14 years, but the investment reaches its maturity term after 21 years since the date it was issued. The government enables the flexibility of the savings scheme account to be transferred from one bank or post office to another bank or post office within India.

The Pm Kisan Yojana website stopped, all information switched to the Prime Minister Kisan Mahan Nidhi Yojna


The aim of the Sukanya Yojana savings scheme is to empower the girl child in India by enabling her to achieve her ambitions and ensuring her financial independence.


The objective is to ensure the financial independence and secure moves of women by initiating there steps to invest in such a savings scheme that would enable them to fulfill their long-term life goals and dreams like higher education, marriage, etc. and ensure financial stability-making them powerful enough to live independently.

As per the Financial Years 2018-19 AY 2019-20, the rate of interest is 8.5%, one of the best for savings schemes of this nature. This further emphasizes on investing in Sukanya Samriddhi Yojana savings scheme. Not only this but, it also offers tax benefits under Section 80C of the Income Tax Act, 1961.


Sukanya Samriddhi Yojana can be opened by the guardian in the name of a beneficiary who has not attained the age of ten years as on the date of opening of the Account. An Account shall be opened for a maximum of two girl children in one family with an exception of triplet, as per rules.

Entry age From birth
Maximum entry age 10 years
Minimum limit for deposits per year INR 1000
Maximum limit for deposit per year INR 1.5 lakh
Withdrawal age 18 years
Maturity duration of account 21 years
Mode of payment Cheque, cash, DD or online

Minimum deposit of Rs.250/- and maximum deposit of Rs.1,50,000/- in a financial year.


An Account under SSA will be regularized on payment of a penalty of fifty rupees per year along with the minimum specified amount for the year or years of SSA scheme.

If in the case, the default SSA is not regularized under any Account within fifteen years of the opening of the Account, then the whole deposit, including the deposits made prior to the date of default, shall be eligible only for interest rate prescribed for Post Office Savings Bank at the onset time of its maturity.


Interest on SSA as verdicted by Govt. Of India will be applicable after every quarter and compounded annually. The interest shall be calculated for the calendar month on the lowest balance in an Account on the deposits made between the close of the tenth day and the end of the month.


The Account will be eligible to be transferred anywhere in India and from post offices to post offices and from Banks to Banks and between post office and Bank.


Withdrawal of up to a maximum of fifty per cent of the balance in the Account at the end of the financial year preceding the year of application for withdrawal, shall be allowed strictly only for the purpose of higher education of the Account holder.

Here the basic rule applies that the provided withdrawal shall not be allowed unless the Account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.


On the maturity of Sukanya Samriddhi Yojana savings scheme, the balance that the girl child will be eligible for is the sum total of the principal amounts consistently deposited in the account and the accrued interest on this principal amount over the years.

This amount has full rights to be directly payable to the account holder, the girl child for whom the account was opened in the initial year.

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