{"id":7688,"date":"2025-07-11T11:23:44","date_gmt":"2025-07-11T11:23:44","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=glossary&#038;p=7688"},"modified":"2025-07-11T11:23:52","modified_gmt":"2025-07-11T11:23:52","slug":"what-is-sukanya-samriddhi-yojana-ssy","status":"publish","type":"glossary","link":"https:\/\/lemonn.co.in\/blog\/glossary\/what-is-sukanya-samriddhi-yojana-ssy\/","title":{"rendered":"What is Sukanya Samriddhi Yojana (SSY)?"},"content":{"rendered":"<p>The <strong>Sukanya Samriddhi Yojana (SSY)<\/strong> is a government-backed savings scheme launched in 2015 under the <strong>Beti Bachao, Beti Padhao<\/strong> initiative. It aims to encourage parents to build a fund for the future education and marriage <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/expense\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">expenses<\/a> of their girl child. The scheme offers attractive interest rates and <a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/tax\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>tax<\/a> benefits, making it a popular choice among Indian families.<\/p>\n\n\n\n<h2 id=\"key-features-of-ssy\" class=\"wp-block-heading\">Key Features of SSY<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest Rate<\/strong>: 8.2% per annum (compounded annually) for the quarter July&#x2013;September 2025.<\/li>\n\n\n\n<li><strong>Minimum Deposit<\/strong>: &#x20B9;250 per financial year.<\/li>\n\n\n\n<li><strong>Maximum Deposit<\/strong>: &#x20B9;1.5 lakh per financial year.<\/li>\n\n\n\n<li><strong>Maturity Period<\/strong>: 21 years from the date of account opening or upon the marriage of the girl after attaining 18 years of age, whichever is earlier.<\/li>\n\n\n\n<li><strong>Deposit Duration<\/strong>: Deposits can be made for 15 years from the date of account opening.<\/li>\n\n\n\n<li><strong>Account Limit<\/strong>: Only one account per girl child; a maximum of two accounts per family (exceptions for twins\/triplets).<\/li>\n<\/ul>\n\n\n\n<h2 id=\"eligibility-criteria\" class=\"wp-block-heading\">Eligibility Criteria<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Who Can Open<\/strong>: Parents or legal guardians of a girl child.<\/li>\n\n\n\n<li><strong>Age Limit<\/strong>: The girl child must be below 10 years of age at the time of account opening.<\/li>\n\n\n\n<li><strong>Residency<\/strong>: The girl child must be an Indian resident.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"tax-benefits\" class=\"wp-block-heading\">Tax Benefits<\/h2>\n\n\n\n<p>SSY offers <strong>Exempt-Exempt-Exempt (EEE)<\/strong> tax status:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Investments<\/strong>: Eligible for deduction under <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/section-80c\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Section 80C<\/a> of the <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/income-tax-act\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Income Tax Act<\/a>, up to &#x20B9;1.5 lakh per annum.<\/li>\n\n\n\n<li><strong>Interest Earned<\/strong>: Completely tax-free.<\/li>\n\n\n\n<li><strong>Maturity Amount<\/strong>: Fully exempt from tax.<\/li>\n<\/ol>\n\n\n\n<p>This makes SSY one of the most tax-efficient savings schemes in India. <\/p>\n\n\n\n<h2 id=\"how-to-open-an-ssy-account\" class=\"wp-block-heading\">How to Open an SSY Account<\/h2>\n\n\n\n<p>You can open an SSY account at:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Post Offices<\/strong><\/li>\n\n\n\n<li><strong>Authorized Banks<\/strong>: Including State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, ICICI Bank, and others.<\/li>\n<\/ul>\n\n\n\n<p><strong>Required Documents<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Birth certificate of the girl child.<\/li>\n\n\n\n<li>Identity and address proof of the parent\/guardian (Aadhaar card, <a class=\"glossaryLink\" href=\"https:\/\/lemonn.co.in\/blog\/glossary\/pan-card\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">PAN card<\/a>, etc.).<\/li>\n\n\n\n<li>Passport-sized photographs of the parent\/guardian and the girl child.<\/li>\n\n\n\n<li>Initial deposit amount (minimum &#x20B9;250).<\/li>\n<\/ul>\n\n\n\n<h2 id=\"example-potential-returns\" class=\"wp-block-heading\">Example: Potential Returns<\/h2>\n\n\n\n<p>If you invest &#x20B9;1.5 lakh annually for 15 years:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Total Investment<\/strong>: &#x20B9;22.5 lakh<\/li>\n\n\n\n<li><strong>Maturity Amount after 21 years<\/strong>: Approximately &#x20B9;46.5 lakh (at 8.2% interest rate)<\/li>\n<\/ul>\n\n\n\n<p>This corpus can significantly aid in funding higher education or marriage expe<a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/nse\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>nse<\/a>s.<\/p>\n\n\n\n<h2 id=\"withdrawal-rules\" class=\"wp-block-heading\">Withdrawal Rules<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Partial Withdrawal<\/strong>: Up to 50% of the account balance can be withdrawn after the girl turns 18, for education purposes.<\/li>\n\n\n\n<li><strong>Premature Closure<\/strong>: Allowed in cases of marriage after the girl attains 18 years of age or in unfortunate events like the death of the account holder.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"conclusion\" class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>The Sukanya Samriddhi Yojana is a secure and beneficial scheme for parents aiming to ensure a financially stable future for their daughters. With its high-interest rates, tax exemptions, and government backing, it stands out as a preferred choice for long-term savings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 under the Beti Bachao, Beti Padhao initiative. It aims to encourage parents to build a fund for the future education and marriage expenses of their girl child. The scheme offers attractive interest rates and tax benefits, making it a popular choice among [&#x2026;]<\/p>\n","protected":false},"author":9,"featured_media":0,"menu_order":0,"template":"","meta":{"footnotes":""},"class_list":["post-7688","glossary","type-glossary","status-publish","hentry"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/glossary"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/9"}],"version-history":[{"count":2,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7688\/revisions"}],"predecessor-version":[{"id":7690,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7688\/revisions\/7690"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=7688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}