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All About Sukanya Samriddhi Account

Published On Jan 27, 2022

The majority of parents have a significant financial goal of saving for their children's future. The government also helps parents save for their daughters under the Sukanya Samriddhi Yojana (SSY). A parent or guardian of a girl child from zero to ten years old can open an SSY account in her or her child's name. For the next 15 years after the account is formed, deposits can be made monthly or annually. There are no investments allowed after the 15-year term, but the account earns interest for the next seven years and matures after 21 years. Withdrawal is only allowed after the child has reached the age of eighteen, and only under specified circumstances.

All About Sukanya Samriddhi Account

Sukanya Samriddhi Yojana Features

The following are some of the most important characteristics of the Sukanya Samriddhi Yojana:

  • Returns are higher.
  • The Ministry of Finance, Government of India, has given its approval.
  • Start investing with a minimum of Rs 250 and a maximum of Rs 1,50,000, with a 21-year lock-in term.
  • After the girl child reaches the age of 18, partial withdrawal is permitted.

Advantages Of Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana has the following advantages:

1. High Rate of Interest

When compared to other investment options, the Sukanya Samriddhi Yojana has a high rate of interest. On a yearly basis, the government announces the interest rate. You can build a corpus for your female kid and assist her to reach her goals with the help of a high rate of interest. The maturity funds can assist you in meeting the financial needs of your girl child in the future.

2.Guaranteed Maturity Returns

At maturity, the account holder, who is a girl child, will receive the amount of the Sukanya Samriddhi Yojana account plus accrued interest. As a result, this Yojana provides financial security to your girl child and encourages her to make her own decisions. The earned investments under the Sukanya Samriddhi Yojana will continue to accrue by compounding interest even after the account is closed by the account holder.

3. Fund your Girl Child's Future Financial Expenses

With the Sukanya Samriddhi Yojana, you can build a corpus large enough to cover our girl child's expenses till she reaches the age of eighteen. Both the parent and the girl kid benefit from the Sukanya Samriddhi Yojana. You can construct a corpus to pay your girl child's higher education, marital expenditures, or any other financial expenses with the use of a Sukanya Samridhi Yojana account.

4. Significant Tax Savings

You can deduct donations to Sukanya Samriddhi Yojana for your daughter's future under Section 80C of the Income Tax Act of 1961. Following that, you'll be able to claim tax benefits up to Rs 1.5 lakh spent on the plan. Furthermore, tax benefits are available on both the interest earned and the balance received at maturity or withdrawal. The Sukanya Samriddhi Yojana, which is one of the most popular exempt-exempt (EEE) investment programs, is administered by the Department of Revenue (DOR).


Sukanya Samriddhi Yojna is one of the best investment options accessible, and it can assist you in building a corpus for your daughter after she turns 18. Sukanya Samriddhi Yojana is a high-yielding account that will ensure that your female kid has enough money to satisfy her future financial demands, rather than a life insurance policy. This technique ensures that you save aside enough money for your daughter's future financial needs, such as higher schooling, a career jumpstart, or wedding costs.

Also read- How To Purchase The Right Child Plan?

Chief Advantages Of Purchasing A Child Life Insurance Plan

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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