Just the girl’s biological parents or legal guardians may administer the SSY account, according to the Department of Posts’ circular (dated August 21, 2024).
Raising a kid in today’s society may be quite expensive, particularly when it comes to providing a girl with a good education and financial stability. The Indian government launched the Sukanya Samriddhi Yojana (SSY) in 2015 as part of the Beti Bachao, Beti Padhao campaign to lessen this burden and promote saving for girls’ futures.
With regular annual or monthly donations, parents may create a designated fund for their female child via this government-backed modest savings plan. They can also take advantage of tax advantages under the previous tax system. With an interest rate of 8.2% for the October–December 2025 quarter, SSY has one of the highest rates available for modest savings products.
What we are aware of about the Sukanya Samriddhi Yojana
A female kid who is ten years of age or younger may establish an account.
₹250 is the minimum annual deposit.
The annual maximum deposit is ₹1.5 lakh.
The deposit period is 15 years from the date of opening.
After twenty-one years, the account matures.
The girl’s account is canceled if she gets married before turning 21.
SSY continues to be one of the safest long-term investments for a girl child’s education and marriage costs because of its governmental guarantee and tax advantages.
Qualifications and guidelines for the account
The girl must be less than ten years old in order to establish an SSY account. The goal of the program is to assist parents or guardians in methodically saving for her marriage and further education.
What restrictions are you going to encounter?
Each female kid may only have one account.
It is possible for a family to create two accounts for two distinct daughters.
It is possible to create more than two accounts under certain circumstances in unique situations, such twins or triplets.
Rules for annual deposits:
The account must have a minimum deposit of ₹250 every fiscal year in order to be active. If you do not deposit this sum, the account will be “defaulted.”
Paying the outstanding minimum deposit and a penalty of ₹50 each year of default, within 15 years of the account’s inception, will restore a defaulted account.
Who has the authority to manage the account?
Just the girl’s biological parents or legal guardians may administer the SSY account, according to the Department of Posts’ circular (dated August 21, 2024).
An account must be transferred to the proper guardian, who may be the parents or a court-appointed legal guardian, if it was established by grandparents or other non-legal guardians.
After 21 years, how much can you anticipate?
The total amount contributed over a 15-year period would be ₹22.5 lakh if parents began investing ₹1.5 lakh annually when their daughter was five years old. By the time the account matures in 2042, this investment might increase to around ₹70 lakh at an average annual rate of 8.2%.
But it is crucial to take inflation into account. The buying power of ₹70 lakh in 2046 would be about equal to ₹20–22 lakh in current currency, assuming an average annual inflation rate of 6%.
Why SSY is still a smart option
One of the most dependable long-term savings programs for parents preparing for their daughter’s future is Sukanya Samriddhi Yojana, which continues to stand out for its risk-free returns, tax exemptions, and government support, even if inflation may erode some of the gains over the course of two decades.