Girl : Scheme to give Rs 5 lakhs to a family with a girl child! Here is the procedure to apply
In India, where the focus on women’s empowerment and education is growing stronger every year, the government has launched several welfare schemes to support girls’ futures. Among these, the Sukanya Samriddhi Yojana (SSY) stands out as one of the most rewarding and secure savings options for families with a girl child. Launched in 2015 under the “Beti Bachao, Beti Padhao” initiative, this scheme aims to help parents save systematically for their daughters’ higher education, marriage, and future security — without financial stress or the burden of loans. If you start early and save just ₹1,000 per month, you can create a corpus of over ₹5 lakh by the time your daughter turns 21. Let’s understand how this powerful savings scheme works and why every parent should take advantage of it.
What is Sukanya Samriddhi Yojana (SSY)?
The Sukanya Samriddhi Yojana is a government-backed small savings scheme exclusively designed for the girl child. It offers one of the highest interest rates among all savings schemes, ensuring long-term financial growth.
Currently, the SSY offers an interest rate of over 8% per annum, which is much higher than most fixed deposits or recurring deposits. The best part? The returns are completely tax-free.
Key Features of the Sukanya Samriddhi Yojana
Here are the main highlights of this 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: Only the parents or legal guardian of the girl child can open the account.
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Where to open: You can open an SSY account at any post office or authorised bank 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: The account matures 21 years from the date of opening.
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Deposit duration: You need to deposit money for only 15 years. After that, it continues to earn interest until maturity.
This makes it a simple yet powerful tool to secure your daughter’s financial independence.
Save ₹1,000 per Month and Earn Over ₹5 Lakh
Let’s understand with an example how your savings can grow over time.
If you deposit ₹1,000 per month (that is, ₹12,000 per year) for 15 years, your total contribution will be ₹1.8 lakh.
At the current interest rate of 8%, your maturity value after 21 years will be around ₹5.3 lakh.
This amount can play a major role in supporting your daughter’s:
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Higher education
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Professional training
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Marriage expenses
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Or any other future financial goal
Additionally, the scheme allows partial withdrawals after the girl turns 18, which can help fund her college education.
Tax Benefits Under SSY
The Sukanya Samriddhi Yojana enjoys the EEE (Exempt-Exempt-Exempt) tax status, which means:
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Investments up to ₹1.5 lakh per year qualify for tax deduction under Section 80C of the Income Tax Act.
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Interest earned is tax-free.
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Maturity amount is completely tax-free.
This triple exemption makes SSY one of the most tax-efficient investment schemes in India.
Documents Required to Open an SSY Account
To open a Sukanya Samriddhi account, you’ll need the following documents:
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Birth certificate of the girl child
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Aadhaar card of the girl and the parent/guardian
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Address proof of the guardian
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Two passport-size photographs
Once submitted, the account will be opened immediately, and you’ll receive a passbook with all the details.
What Happens in Special Cases?
If, unfortunately, the girl child passes away before maturity, the entire amount along with accumulated interest is refunded to the parents or legal guardian.In case the family shifts to another location, the account can easily be transferred anywhere in India without losing benefits.
Why Every Parent Should Invest in SSY
In today’s time, education costs and living expenses are rising rapidly. Planning early for your daughter’s future ensures that she never faces financial barriers to achieving her dreams.
The Sukanya Samriddhi Yojana isn’t just a savings scheme — it’s a promise of empowerment and security for your child. By contributing a small amount regularly, you’re laying a foundation for her higher education, career, and marriage.
Final Thoughts
If you have a daughter below 10 years old, don’t delay — visit your nearest post office or authorised bank and open a Sukanya Samriddhi Yojana account today. By saving just ₹1,000 per month, you can build a safe and guaranteed fund of over ₹5 lakh for her future. This small financial decision today can become the stepping stone for your daughter’s dreams tomorrow — because every small saving today creates a big future tomorrow.