Sukanya Samriddhi Yojana

[ Introduced in 2015]

• Funding agency: central government

• Brief description : Sukanya Samriddhi Yojana encourages parents

to build a fund for the future education and
marriage expenses for their female child

• Eligibility Criteria :

Only a girl child can open this account.

The maximum age of this child should be 10 years. However a grace
period of 1 year is granted.
For the parents-
Only biological parents or legal guardians of the child can open the
account on the child's behalf.
One parent or legal guardian can open up to two accounts for their girl
children. In case of twins or triplets the parent or legal guardian can
open up to three accounts.

• How to apply :
Fill out the SSY Account opening form
Keep the documents ready along with photographs
 Pay the deposit amount (any amount between Rs. 250 and Rs. 1.5 lakh
will do)
You can give a standing instruction at the branch or you can set up
automatic credit to SSY Account through NetBanking.

• Documents required :
SSY Account opening form
Beneficiary’s birth certificate
Address proof of the guardian or parents of the beneficiary
Id proof of the guardian or parents of the beneficiary.

• Full description of the scheme

Sukanya Samriddhi Yojana is a government-backed savings scheme
as part of the “Beti Bachao, Beti Padhao Yojana” for the benefit of
the girl child. It can be opened by the parents of a girl child below
the age of 10. A Sukanya Samriddhi Account has a tenure of 21
years or until the girl child marries after the age of 18. From April
2020, this scheme offers an interest rate of 7.6% compounded
annually.
Parents can now open up to two SSY accounts for girls and a third
account can be opened in case of birth of twins/triplets.

• Auxiliary Scheme : part of Beti Bachao, Beti Padhao Yojana