Top 9 Things To Know About Sukanya Samriddhi Yojana

Outlook Money

What is SSY?

Sukanya Samriddhi Yojana SSY is a government supported scheme that is extended to Indian parents to financially secure their daughter’s future for marriage or studies purposes.

Who Is Eligible For SSY?

SSY can be opened by the parents or the guardian of a girl child below 10 years old. Accounts for each family is limited to 2 daughters except if there are twins during second birth.

What Are The Required Documents?

Documents such as SSY form, birth certificate of the daughter(s), guardian or the parents’ ID proof as well as an address proof of the parent(s) or guardian(s).

Interest Rate

The rate of interest for the 1st quarter of FY 2025-2026, i.e. 1 April 2025 to 30 June 2025, is 8.2 per cent p.a. The interest earned is tax-free.  

Initiating Opening An Account

The parents can make an initial contribution of more than Rs 250 along with the form and necessary documents and photos.

What is the Minimum and the Maximum Limit?

A contribution ranging between Rs. 250 to Rs 1.5 lakh can be made by the parents per year. The Maximum annual cap of contribution is 1.5 lakh.

Maturity Period

The account matures when the daughter turns 21 or on marriage at any age above 18 years.

Allowed Contributions

The contributions can only be made in the first 15 years while the last 6 years still attract interest on the accumulated amount.

Free Lock-In Period

Missed Contributions

In case you miss contributions, the account is classified as defaulted. You can reactivate the account by paying a Rs 50 fine for each missed year.

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