Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to provide a financially secure future for girls. It offers a high interest rate of 8.2% (as of 2024) and benefits from compounded interest, making it one of the best investment options for parents.

Let’s dive into the details of how much you can invest, how many accounts you can open, and how much you will get on maturity if you invest ₹1,00,000 annually.

🎯 Who Can Open an SSY Account?

• Parents or legal guardians can open an SSY account for a girl child aged 10 years or younger.
• The account can be opened in any post office or authorized bank.
• Only two SSY accounts per family are allowed.
• If a second-born daughter is a twin or triplet, an additional account is permitted.

📊 Investment Limits in SSY

✅ Minimum Investment: ₹250 per year
✅ Maximum Investment: ₹1,50,000 per year
✅ Deposit Period: 15 years
✅ Account Maturity: 21 years from the date of opening

Once the account matures, the entire corpus (principal + interest) can be withdrawn tax-free under Section 80C of the Income Tax Act.

💰 How Much Will You Get on Maturity?

If you invest ₹1,00,000 per year for 15 years, let’s see how much you will receive after 21 years.

• Total Investment = ₹15,00,000 (₹1,00,000 × 15 years)
• Interest Earned = ₹31,18,385
• Maturity Amount = ₹46,18,385

This calculation is based on the current interest rate of 8.2%, which may change in the future.

Example Timeline:

• If you start investing in 2025, your account will mature in 2046.
• After 21 years, you can withdraw the full maturity amount or use it for education, marriage, or any other financial needs of your daughter.

🏦 How to Open an SSY Account?

1️⃣ Visit a Bank or Post Office

• Go to any authorized bank branch or post office where SSY is available.

2️⃣ Fill the SSY Account Opening Form

• Download the form from the official website or get it from the bank/post office.

3️⃣ Submit Required Documents

• Birth certificate of the girl child
• Address proof of parents/guardian
• ID proof (Aadhaar, PAN, passport, etc.)
• Passport-sized photographs

4️⃣ Make the First Deposit

• Deposit a minimum of ₹250 or up to ₹1,50,000 per year.

5️⃣ Account Activation

• After verification, your SSY account will be activated, and you will receive a passbook to track your investments.

🔍 Key Benefits of Sukanya Samriddhi Yojana

✔️ High Interest Rate (8.2% - subject to revision by the government)
✔️ Tax-Free Returns (under Section 80C and exempted interest income)
✔️ Guaranteed Long-Term Savings for Your Daughter
✔️ Flexible Investment Amount (₹250 to ₹1,50,000 per year)
✔️ No Market Risk – Government-backed scheme ensures safety
✔️ Partial Withdrawal for Education after the girl turns 18

⚠️ Things to Keep in Mind

• Account operation is mandatory – If no deposit is made in a year, the account will be deactivated, but it can be reactivated with a penalty of ₹50.
• Premature withdrawal is restricted – You can withdraw up to 50% of the balance only after the girl turns 18, and only for higher education or marriage.
• Interest rates may change – The government revises SSY interest rates quarterly.

Final Thoughts

Sukanya Samriddhi Yojana is an excellent savings scheme for parents who want to secure their daughter's financial future. With tax benefits, high returns, and long-term security, it ensures that your child's education, marriage, or other financial goals are met without worry.

💡 If you are planning for your daughter's future, start investing in SSY today!

Would you like help calculating a customized SSY investment plan? Let us know in the comments! 🚀