The Sukanya Samriddhi Yojana (SSY) has emerged as a beacon of hope and empowerment for millions of daughters across India. Launched on January 22, 2015, by Prime Minister Narendra Modi under the Beti Bachao, Beti Padhao campaign, this scheme reflects the government’s steadfast commitment to realizing the aspirations and dreams of young girls. January 22, 2025, marks the 10th anniversary of Sukanya Samriddhi Yojana, encouraging families to invest in their daughters’ bright futures while fostering a culture of inclusion and progress.
As of November 2024, over 4.1 crore Sukanya Samriddhi accounts have been opened. This is not just a figure but a testament to India’s collective journey toward securing an equitable and promising future for every girl child. The scheme celebrates the immense potential of daughters, reiterating the belief that empowering a girl strengthens the foundation of society.
Opening the Account: An account can be opened for a girl child immediately after birth until she reaches the age of 10 years. Eligible only for resident Indian girls from account opening to maturity, each child is allowed only one account. Parents can open a maximum of two accounts for their children, with exceptions for twins or triplets. The account is transferable anywhere within India.
Deposit Details: The account can be opened at any post office or designated bank branch with a minimum deposit of ₹250. Subsequent deposits must be in multiples of ₹50, ensuring a minimum yearly deposit of ₹250. The maximum annual deposit limit is ₹1,50,000, with excess deposits refunded without interest. Deposits can be made for 15 years from the account opening date.
Managing the Account: The account is managed by the guardian until the girl turns 18. After that, she can operate it independently by submitting the necessary documentation.
Interest Calculation: Interest is calculated monthly on the lowest balance between the 5th and the last day of the month. It is credited annually to the account, ensuring steady financial growth for the girl child.
Maturity and Premature Closure: The account matures 21 years after opening. However, premature closure is allowed in specific cases, such as the girl’s marriage after turning 18, severe health issues, or the death of the guardian.
50% Withdrawal for Education: Withdrawals of up to 50% of the account balance are permitted for educational purposes once the girl turns 18 or completes her 10th standard. This can be utilized for tuition fees or other related expenses, provided adequate documentation are submitted.
A Step towards a Bright Future for Girls: Sukanya Samriddhi Yojana is more than a financial scheme; it is a movement towards building an equitable and empowered society. By investing in the education and future of daughters, families contribute to a stronger foundation for a progressive nation.
