Sukanya Samriddhi Yojana: Steps To Open an Account With SBI

Check prime highlights of Sukanya Samriddhi Yojana and steps to open an SBI account to avail the scheme.

Tech and Auto
2 min read
Hindi Female

The Sukanya Samriddhi Yojana (SSY) was launched by PM Narendra Modi in 2015, as part of his Beti Bachao, Beti Padhao campaign.

The SSY is a savings scheme backed by the Centre for parents of a girl child. It provides a good interest rate along with several other benefits.

To avail this scheme, one must have an SBI bank account and a girl child. It can be opened for two girls or even three, in case of twin girls.

Currently, for the January-March 2022 financial quarter, the SSY Yojana is offering an interest rate of 7.6 percent.


Sukanya Samriddhi Yojana: Steps to Open SBI Account

  • Download the SSY account opening form from the official website of SBI, and fill in the required details. This is the first and most important document needed.

  • You will require the beneficiary's birth certificate

  • An address proof and ID proof of the beneficiary's guardian or parents is also needed.

  • Once the above-mentioned documents are in order, you need to submit it to the nearest SBI bank branch.

  • Readers must note that you are also required to make a starting deposit of Rs 250 to open the account.


There is no online account opening system for the Yojana at present. The SSY is classified as exempt-exempt-exempt (EEE). This means that the annual contributions under it are tax deductible under Section 80C, but the maturity perks are not.


Sukanya Samriddhi Yojana: Prime highlights

  1. The minimum deposit in a financial year is Rs 250 and the maximum deposit is Rs 1.5 lakh.

  2. A girl child's account can be opened till she reaches the age of 10 years.

  3. Only one account can be opend in the name of a girl child.

  4. Account opening facility is available at authorised banks and post offices.

  5. Withdrawals will be permitted to pay for the account holder's higher education.

  6. The account can be closed prematurely if the girl marries before the age of 18.

  7. The account can be transferred from one post office/bank to another place in India.

  8. It will mature once a period of 21 years has passed after being opened.

  9. The deposit is deductible under Section 80C of the IT Act.

  10. Section 10 of the IT Act exempts interest earned in the account from income tax.

  11. Deposits can be made for a maximum of 15 years from the day the account was opened.

  12. The account can be closed early if the account holder dies or in case of exceptional humanitarian reasons.

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