What is Sukanya Samriddhi Yojana?

Since Independence whoever may the ruling party is, the government of India has taken steps by making programs and implementing them to promote gender equality in the society.

The constitution of India grants equality to every citizen irrespective of caste, creed and gender, but many a times it has been seen that women do not gets enough opportunity, especially in the rural areas due to the societal norms and patriarchal thinking.

We cannot deny the fact that by the untiring attempts of the Indian government status of women has profoundly improved in our country. Some of the major programs promoting women empowerment has been continuing in India since decades, we list out some of them below:


  • Development of women and children in Rural areas (DCWRA) (1982 – 1983)
  • National Credit Fund for Women (NCFW) (1993)
  • Mahila E Haat (2016)
  • STEP Support to training and employment program for women (1986-87)
  • SWADHAR (2002)
  • Beti Bachao Beti Padhao Scheme (2015)

The ambitious Beti Bachao beti Padhao scheme of current government under the leadership of Prime minister Narendra Modi was started on 22 January 2015 with an objective to promote education among girls and create a progressive future for them.

The crux of this program lies in prevent the violation in the interest of girls and to celebrate the birth of a girl child. Sukanya Samriddhi account (Girl child prosperity account) is a government of India backed saving scheme provided to the parents for the benefit of a girl child.

The savings account provides a decent interest rate on deposits and the accumulated amount can be used by the girl account holder for education, marriage and other purposes. The details of this saving scheme are given point wise below:


  • Account can be opened in the name of the girl child by submitting the birth certificate anytime till she attains 10 years of age. Only one account can be opened in the name of one child. Parents are allowed to open maximum of two accounts for each of their children with some exceptions allowed for twins and triplet cases.


  • Other documents needed for opening up the account is identity proof and address proof of the parent or guardian with duly filled and signed Sukanya Samriddhi Yojana form.


  • It is not possible to open the account online, one can at most download the form from internet fill it, attach the necessary documents and physically submit it to the bank and post office of choice.


  • Account can be opened in post office or authorized public and private sector banks as per convenience and choice.


  • Account can be opened with a minimum amount as low as 250 rupees and thereafter a multiple of 100 rupees can be deposited. For keeping the account operative a minimum 250 rupee needs to be deposited in the amount every financial year. The maximum cap on the deposit is 150k per financial year. If the minimum deposit amount of 250 rupee is not deposited in a year a fine of Rs 50 is charged from the account.


  • Interest as notified by the government from time to time will be calculated on annual compounded basis and credited to the account only. The interest rate is pretty decent and higher than what most bank fixed deposits offer. The current interest rate from 1 April 2020 to 30 June 2020 has been announced as 7.6% which was as high as 9.1% when the scheme was launched.


  • The account holder girl can operate the account when she attains the age of 10 till then the legal guardian or parents are permitted to operate the account on behalf of the child.


  • One withdrawal is permitted on attaining age 18 of the account holder to meet education expenses at least 50% of the balance at the end of the preceding financial year. Only girl account holder can make the withdrawal either complete or partial.


  • Deposit in the account can be made only till 15 years from the date of opening after which the account only earns applicable rate of interest.


  • The account shall mature on completion of 21 years from the date of account opening or on marriage of the account holder whichever is earlier. Normal closure is allowed in case the account holder is above 18 and married. No interest is payable once the account completes 21 years from its date of opening.


  • Pre mature closure of the account is only available in extreme cases like in severe situation like death of the girl account holder on providing the death certificate savings is forwarded to the depositor. In other case premature close is possible if government feels that the depositor is unable to continue the deposits on account of medical exigency or severe illness of the depositor.


  • The account can be transferred from one post office or bank to another in India by providing the proof of residence change of either guardian or account holder and paying a fee of 100 rupees to the bank or post office where transfer is made.


  • The tax benefit has now been made similar to that of a PPF account and falls in the EEE (exempt – exempt – exempt pattern). Earlier there was tax benefit on the deposit only i.e. upto 150k as under section 80 C of IT act which was later extended to exempt on the interest from the account and withdrawal of the fund after maturity.





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