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Introduction:

The Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched by the Government of India under the “Beti Bachao, Beti Padhao” campaign. Introduced in 2015, this scheme is specifically aimed at encouraging parents or guardians to save for the education and future marriage expenses of their girl child. The SSY scheme has gained popularity due to its high interest rates, tax benefits, and secure returns, making it one of the most preferred investment options for families with daughters.

Objectives of the Sukanya Samriddhi Yojana

The primary objective of the SSY is to:

• Promote the welfare and education of the girl child.
• Encourage parents to build a financial corpus for the future expenses of their daughters.
• Address gender disparity by creating financial security for girls.
• Discourage child marriage by mandating the maturity of the scheme around the girl’s adulthood.

Key Features of the Scheme

1. Eligibility:
   The account can be opened in the name of a girl child by her parents or legal guardians. The girl child must be below 10 years of age at the time of opening the account. Only one account per girl child is allowed, and a family can open a maximum of two accounts (for two girl children). In the case of twins or triplets, more than two accounts are allowed.
2. Account Opening and Operation:
   The SSY account can be opened at any post office or authorized bank. The parent or guardian manages the account until the girl turns 18.
3. Deposit Amount:
   A minimum of ₹250 and a maximum of ₹1.5 lakh can be deposited in a financial year. Deposits can be made monthly or annually for 15 years from the date of account opening.
4. Interest Rate:
   The interest rate is revised quarterly by the government and is generally higher than other small savings schemes. As of July–September 2025, the interest rate is around 8.2% per annum, compounded yearly.
5. Maturity:
   The account matures after 21 years from the date of opening or upon the marriage of the girl child after she turns 18, whichever is earlier.
6. Premature Withdrawal:
   Up to 50% of the balance can be withdrawn after the girl turns 18, for higher education or marriage purposes.
7. Tax Benefits:
   The SSY scheme falls under the EEE category – Exempt, Exempt, Exempt. This means that the principal amount, the interest earned, and the maturity amount are all exempt from income tax under Section 80C of the Income Tax Act.

Benefits of the Sukanya Samriddhi Yojana

• Financial Security: It ensures a secure financial future for the girl child, especially for higher education and marriage.
• High Returns: Compared to other fixed income investment options, SSY offers one of the highest interest rates.
• Tax Savings: The complete tax exemption makes it a very attractive scheme for parents looking to save for their daughter’s future.
• Discipline in Savings: With a long-term deposit plan, it encourages disciplined saving habits among parents.
• Government Backing: Being a government-supported scheme, it offers a high degree of safety with guaranteed returns.

Limitations

• Lock-in Period: The long maturity period may not suit those looking for flexible or short-term liquidity.
• Girl-Child Only: It is limited to girl children, which though intentional for social reasons, excludes families with only boys.
  

Conclusion

The Sukanya Samriddhi Yojana is a visionary financial scheme that aligns with India’s broader social goals of gender equality and women’s empowerment. By motivating families to plan early for their daughters’ future, it reduces the financial burden that might come later, especially for higher education and marriage. It is a powerful initiative, not just for financial planning but for changing societal attitudes toward the girl child. When wisely utilized, it can serve as a key tool for both financial growth and social reform.