Sukanya Samriddhi Yojana (SSY)

Who can apply

Parents or legal guardians of a girl child below 10 years of age.

• The girl is below 10 years of age when the account is opened.
• One account per girl, and generally up to two girls per family (exceptions apply for twins or triplets).

₹Benefits

• Minimum deposit ₹250 and maximum ₹1.5 lakh per financial year.
• Deposits are made for 15 years; the account matures 21 years after opening.
• Up to 50% can be withdrawn after the girl turns 18, for higher education.
• Interest rate is set by the government every quarter. Check the current rate at the post office or bank.
• Deposits qualify for tax deduction under Section 80C (old tax regime).

Documents you will need

• Birth certificate of the girl child
• Identity and address proof of the parent or guardian
• Photographs

The exact list can vary by state and office. Carry originals and photocopies.

How to apply

1. Visit a post office or an authorised bank branch.
2. Fill in the SSY account opening form and submit the documents.
3. Make the first deposit (at least ₹250).

When to apply: The account must be opened before the girl turns 10.

Common mistakes to avoid

• Missing the minimum yearly deposit, which makes the account "defaulted" until you pay a penalty.

Official links and sources

• India Post – savings schemes (www.indiapost.gov.in)

Create a free account to open the official application portal from here. Your account also lets you save schemes and results.

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