sukanya samriddhi yojana

Sukanya Samriddhi Yojana 2024: Benefits, Features, Eligibility, Rules and Documents

Sukanya Samriddhi Yojana: The Central Government has launched a new programme under the Beti Bachao Beti Padhao campaign to improve daughters’ futures and pay for their schooling, further education, marriage, and other expenses. The Sukanya Samriddhi Yojana is their name. This is a modest savings plan. This allows parents to invest in this scheme to safeguard their daughter’s future if she is younger than ten years old. This scheme allows investments of up to Rs 1.5 lakh and a minimum of Rs 250. This plan is exclusively intended for females. The daughter’s future expenses can be covered by investing in it. Through this method, money can be saved for the costs of the daughter’s schooling and other expenses by investing for 15 years.

Should you also like to invest in your daughter’s name, you have the opportunity to enhance her future by participating in the Sukanya Samriddhi Yojana. We will give you all the information you need about the Sukanya Samriddhi Yojana today in this article.

Sukanya Samriddhi Yojana

Also Read: Pradhanmantri Kaushal Vikas Yojana


Sukanya Samriddhi Yojana 2024

The Central Government’s Sukanya Samriddhi Yojana aims to invest in daughters’ names. A yearly deposit of Rs 10,000 can be made under this scheme, which, when it matures, will total Rs 4.48 lakh. The purpose of this programme is to protect the future of the nation’s women. This permits any family member—parents, for example—to register a Sukanya Samriddhi account in the daughter’s name. This plan will not only earn you a lot of income, but it is also completely safe because it has government backing. By making consistent investments, this method can help raise a sizable amount of money at maturity.

Account holders of the Central Government’s SSY, which aims to empower daughters to become self-sufficient, must contribute a minimum of Rs 250 during a fiscal year. If you haven’t yet invested the required minimum for this fiscal year, finish this task as soon as you can. since you still have until March 31, 2024, to make the required minimum deposit. Your account will be closed if the required amount is not deposited by March 31. To revive the inactive account, you will also need to pay a penalty of Rs 50 every year. Holders of SSY accounts should therefore make the required investments before March 31, 2024.

Information about Sukanya Samriddhi Yojana 2024

Name Of Scheme Sukanya Samriddhi Yojana
was started by central government
beneficiaryGirls aged 0 to 10 years  
Objective improving the future of daughters
investment amount Minimum 250, Maximum 1.5 Lakh
investment periodup to 15 years 
Rate of interest8% per annum   

Better interest in Sukanya Samriddhi Yojana, along with tax-free

Investing in the SSY yields an interest rate of 8%. For the July–September 2023 quarter, for example, there is an interest rate of 8% annually available. This is a tax-free programme that offers triple tax exemption, or three distinct degrees of tax exemption. The Income Tax Act’s Section 80c offers an exemption for investments up to Rs 1.5 lakh per year. The third benefit is that the money received at maturity is also fully tax-free. The second benefit is that there is no tax on the returns you get.

Sukanya Samriddhi Yojana

Maximum deposit amount in Sukanya Samriddhi Yojana

A post office account can be registered for a girl under the age of ten under the SSY. Two daughters can each have their account set up under this plan. More than one account can be opened if there are twin daughters. A minimum deposit of Rs 250 is required under the SSY, and a maximum deposit of Rs 1.5 lakh may be made for the financial year. You can also split this sum and deposit it every month if you’d like. Additionally, by adding Rs 12,500 to your account each month, you can deposit up to Rs 1.5 lakh in a year. Likewise, should you allocate Rs 1,11,400 per year towards the SSY,

How do I invest in the Sukanya Samriddhi Yojana?

  • Cash
  • Check
  • demand draft
  • Online E-Transfer (if available)

Also Read: Mukhyamantri Amrutum  Yojana

Banks offering Sukanya Samriddhi Yojana      

The Sukanya Samriddhi Yojana application form is available at the post office or from the private sector bank participating in the scheme. In addition, the RBI and bank websites offer the Sukanya Samriddhi Yojana new account application form for download. Below is a list of banks that are part in the Sukanya Samriddhi Yojana.

  • Indian Bank
  • State Bank of India
  • Bank of Maharashtra
  • Punjab and Sindh Bank
  • Indian Overseas Bank
  • UCO Bank
  • IDBI Bank
  • Bank of Baroda
  • Bank of India
  • HDFC bank
  • Canara Bank
  • Central Bank of India
  • Axis Bank
  • Union Bank of India
  • Punjab National Bank
  • ICICI Bank

Benefits and features of Sukanya Samriddhi Yojana

  • Accounts under the name of girls under the age of ten may be opened under this program.
  • An individual can invest as little as Rs 250 and as much as Rs 1.5 lakh a year under the Sukanya Samriddhi Yojana.
  • Due to its government sponsorship, the Sukanya Samriddhi Yojana offers assured returns.
  • Account transfers for Sukanya Samriddhi are possible across locations inside the nation. However, one continues to get interest if the account is kept open even after it matures.
  • The girl can withdraw half of the funds for her education after she reaches eighteen.
  • This strategy allows for the adoption of a daughter as well as the making of investments.
  • Sukanya Samriddhi Yojana stipulates that the premium money must be deposited for 15 years, with a 21-year maturity period.
  • In this arrangement, interest is paid at the rate of eight per cent for the fiscal year 2023–2024.
  • The girl will be able to handle her account on her own after reaching 18.

Required Documents

  • birth certificate of girl child
  • Address proof
  • Parents’ PAN card, Aadhar card
  • mobile number

Eligibility for Sukanya Samriddhi Yojana

  • Only parents or legal guardians may open an SSY account in the girl’s name.
  • When the account is opened, the girl must be younger than ten years old.
  • A family is only permitted to register two accounts under the SSY.
  • A girl child cannot have more than one Sukanya Samriddhi account opened for her.
  • An account for three daughters can only be formed if two girls have twin daughters for the second time after having a daughter for the first time.
Sukanya Samriddhi Yojana

How to apply for the Sukanya Samriddhi Yojana 2024?

  • The first step in opening an account under the Sukanya Samriddhi Yojana is to visit the bank branch or post office that is closest to you.
  • You must obtain the application form there to invest under the SSY.
  • Subsequently, you will need to input the details of the guardian or parents who will open the account and make investments on the female child’s behalf.
  • You will need to attach the form with copies of the necessary papers once you have entered all the necessary data.
  • You will need to send this application form and the premium payment to the bank or post office once you have finished the entire process.
  • You can apply for the SSY in this manner.

Also Read: Digital India Internship Scheme


Q: What is the minimum amount of rupees one can invest under SSY?

Ans: A minimum of Rs 250 can be invested under the SSY.

Q: Can a loan be taken against the remaining amount in SSY?

Ans: No, a loan option is not offered for the Sukanya Samriddhi Yojana’s remaining balance. Under this arrangement, you can only withdraw 50% of the total sum after you reach eighteen.

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