Sukanya Samriddhi Yojana: Complete Guide for Parents
Eligibility, deposit limits, the 8.2% tax-free return, and where SSY fits into your daughter's education plan.
SSY is the highest-yielding small savings scheme for a girl child — 8.2% tax-free as of 2026, fully EEE. Parents underestimate it because of the 21-year lock-in, but for a long-term education or wedding corpus, it's hard to beat.
Eligibility & Rules
- Account in the name of a girl child below age 10
- Maximum 2 accounts per family (3 if twins/triplets)
- Minimum ₹250/year, maximum ₹1.5 lakh/year
- Deposits required for 15 years; account matures in 21 years
- Partial withdrawal allowed from age 18 (up to 50%) for higher education
The Numbers
Deposit ₹1.5 lakh/year for 15 years at 8.2%. Total contribution: ₹22.5 lakh. Maturity value at year 21: ~₹69-72 lakh. All tax-free.
Run the projection: SSY Calculator → https://calculatordesk.in/ssy-calculator
Where SSY Fits
Use SSY as the debt allocation in your girl child's education plan — it gives PPF-like safety with higher returns. Add equity mutual fund SIPs for growth: e.g., ₹50,000/year SSY + ₹10,000/month equity SIP. The combination delivers a higher and more flexible corpus than SSY alone.
Frequently Asked Questions
Can SSY be opened at any post office?
Yes, any post office or authorised public/private sector bank. Documents: girl's birth certificate, parent's KYC, photo.
What if I miss a year's deposit?
Account becomes inactive. Revive by paying ₹50 penalty per missed year plus minimum ₹250 contribution.
Can NRIs invest in SSY?
No. The account holder (girl) and guardian must be Indian residents at the time of opening and throughout. If the girl becomes NRI later, account is closed.