As parents, one of the greatest gifts we can offer our daughters is the freedom to dream — and the means to pursue those dreams without financial roadblocks.
That’s where the Sukanya Samriddhi Yojana (SSY) comes in — a government-backed savings scheme under the Beti Bachao, Beti Padhao initiative. With a generous interest rate of 8.2% p.a. and Section 80C tax benefits, the SSY is designed to help families create a safe, long-term corpus for their girl child’s education and marriage.
But like any financial decision, knowing the details — and having backup options — is key.
What is the Sukanya Samriddhi Yojana Post Office Scheme?
The Sukanya Samriddhi Yojana (SSY) offered through post offices is a government-supported savings scheme aimed at building a secure financial future for girl children in India. Introduced under the Beti Bachao, Beti Padhao initiative, it helps parents or guardians systematically save for a daughter’s education and marriage.
The scheme currently offers an attractive interest rate of 8.2% per annum and comes with full tax efficiency. Investments qualify for deductions up to ₹1.5 lakh annually under Section 80C, while both the interest earned and the maturity proceeds are completely tax-free, making SSY an EEE investment. An SSY account can be opened at any post office across the country.
Interest Rate for Sukanya Samriddhi Yojana Post Office
For Q2 of FY 2024–25, the Sukanya Samriddhi Yojana Post Office scheme offers an interest rate of 8.2% per annum, compounded annually.
Who is Eligible to Apply for the Sukanya Samriddhi Yojana Post Office Scheme?
The key eligibility conditions for opening an SSY account are as follows:
- The scheme is available for girl children aged up to 10 years.
- The girl child must be an Indian resident and citizen until account maturity.
- The account can be opened only by a parent or legal guardian.
- One account per girl child is allowed.
- A family can open accounts for a maximum of two girl children.
- In case of twins or triplets, up to three accounts are permitted.
What Makes the SSY So Powerful?
Here is a snapshot of what the Post Office Sukanya Samriddhi Account offers:
- Eligibility: The account can be opened anytime before the girl turns 10.
- Flexibility: Start with as little as Rs. 250/year; invest up to Rs. 1.5 lakh annually.
- Tenure: The scheme matures after 21 years or when the girl marries post 18.
- Returns: Offers 8.2% p.a., compounded annually.
- Withdrawals: Up to 50% can be withdrawn after she turns 18 for education or marriage.
- Tax Savings: Enjoy tax benefits under Section 80C and completely tax-free returns.
It is one of the few investment products where the contribution, interest, and maturity amount are all exempt from tax.
Already maxed your SSY limit or need additional savings for your daughter’s future?
Open a Fixed Deposit with Bajaj Finance — earn high interest and enjoy predictable returns alongside your SSY investment. Check FD rates and open FD account now!
Who Can Open an SSY Account?
To make it even simpler, here’s a quick checklist:
- Girl child must be below 10 years old.
- Must be an Indian resident.
- One account per child; maximum of two per family (exceptions for twins/triplets).
- Parent or legal guardian must open the account.
You’ll need basic documents like the child’s birth certificate, guardian’s ID and address proof, and proof of relationship.
