Girl : Scheme to give Rs 5 lakhs to a family with a girl child! Here is the procedure to apply
The Sukanya Samriddhi Yojana (SSY) is one of the most popular government savings schemes designed to secure the future of the girl child. Launched in 2015 under the “Beti Bachao, Beti Padhao” initiative, the scheme aims to help parents save systematically for their daughter’s education, marriage, and other future needs — without financial stress. If you start early and deposit just ₹1,000 per month, you can create a fund of over ₹5 lakh for your daughter by the time she turns 21. Let’s understand the full details.
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana is a small savings scheme backed by the Government of India. It offers one of the highest interest rates among all savings options, currently around 8% per annum. The interest is compounded annually, making your savings grow faster compared to traditional bank deposits.
The scheme ensures financial independence for girls and encourages parents to start saving early.
Key Features of the Scheme
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Eligibility: The account can be opened in the name of a girl child below 10 years of age.
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Who can open: Parents or legal guardians.
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Where to open: Available at all post offices and authorised banks across India.
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Minimum deposit: ₹250 per year to keep the account active.
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Maximum deposit: ₹1.5 lakh per year.
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Tenure: 21 years from the date of opening.
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Deposit duration: Deposits are required for the first 15 years only; after that, the account continues to earn interest until maturity.
Save ₹1,000 Monthly to Get ₹5 Lakh
If you deposit ₹1,000 per month (₹12,000 per year) for 15 years, your total contribution will be ₹1.8 lakh. At the current 8% interest rate, you will receive approximately ₹5.3 lakh after 21 years.
The amount can be used for your daughter’s:
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Higher education
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Marriage expenses
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Skill development or professional courses
Partial withdrawals are also allowed after the girl turns 18 years old, mainly for educational expenses.
Tax Benefits
Sukanya Samriddhi Yojana offers triple tax benefits (EEE):
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Investments up to ₹1.5 lakh per year qualify for deduction under Section 80C.
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Interest earned is tax-free.
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Maturity amount is also fully tax-free.
This makes it one of the most tax-efficient schemes in India.
Documents Required
To open an SSY account, you’ll need:
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Birth certificate of the girl child
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Aadhaar card of the girl and guardian
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Address proof of the guardian
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Passport-size photographs
Once verified, you’ll receive an SSY passbook showing your deposits and interest.
Why You Should Invest in SSY
In today’s time of rising education costs, planning early is essential. Sukanya Samriddhi Yojana helps you build a secure future for your daughter with minimal monthly savings. It is safe, government-backed, and offers guaranteed returns.
Final Thoughts
If you have a girl child under 10 years, open an SSY account at your nearest post office or bank today. A small monthly saving of ₹1,000 can grow into a ₹5 lakh fund, ensuring your daughter’s education and dreams are never compromised. The Sukanya Samriddhi Yojana is more than just a savings plan — it’s a step towards your daughter’s empowerment and financial security.