As a piece of the Beti Bachao Beti Padhao , Head of the state Narendra Modi sent off a plan called ‘Sukanya Samriddhi Yojana (SSY)’, the mission in a real sense means ‘Young lady Kid Flourishing Plan’ in accordance with the above targets. It was sent off on 22 January 2015 in Panipat, Haryana.

Investment Details of Sukanya Samriddhi Yojana (SSY)2024?
- Least worth: Rs.250
- Greatest worth: Rs.1.5 lakh per annum
- Interest rate: 8.2% per annum
- Record can be opened within 10 years of a young lady kid’s birth
- Duration: A long time from the date of investment
What is Sukanya Samriddhi Yojana (SSY)2024?
To significantly resolve the issue of the declining child sex ratio in our country, the Government of India launched a social mission on 22 January 2015. The Beti Bachao Beti Padhao (BBBP) crusade sends the message ‘Save girls, educate the girl child’. It is a public drive jointly operated by the Ministry of Women and Child Development, Ministry of Health and Family Welfare, and the Ministry of Human Resource Development.
BBBP aims to achieve the following:
- To prevent gender discrimination and eliminate the practice of sex determination.
- To ensure the survival and protection of girls.
- To ensure higher participation of girls in education and other fields.
SSY targets addressing significant issues associated with the girl child: securing a bright future in India by facilitating parents in building a fund for education and marriage expenses.
Eligibility, Age Cutoff, and Maturity Period
A young girl can have one SSY account, which can be opened at any post office or authorized bank until the child reaches 10 years of age.
Deposits under SSY
The guardian can deposit up to Rs.1,50,000 per year. Deposits can be made via cash, check, demand draft, or online transaction. The account will be operated by the guardian until the girl turns 18.
Interest on Deposits
For the second quarter of FY 2024-2025, the interest rate is 8.2% p.a., and it is tax-free.
Also check : सुभद्रा योजना 2024
Maturity Period of SSY
The SSY matures 21 years after account opening or upon the girl’s marriage after reaching 18 years of age. Contributions need to be made only for the first 15 years.
Advantages of Sukanya Samriddhi Yojana 2024
- Low Minimum Deposit: The minimum required deposit is Rs.250 per year, making it affordable for all segments of society.
- High Interest Rate: SSY accounts offer a high interest rate of 8.2% p.a.
- Tax Benefits: Full tax deductions up to Rs.1.5 lakh per year under Section 80C.
- Long Tenure: Ensures a secure future with a 21-year maturity period or until marriage after 18 years.
- Educational Withdrawals: Withdraw up to 50% of the account balance for educational expenses after age 18.
- Reliable Returns: Government-backed, ensuring returns upon maturity.
- Convenient Transfer: The SSY account can be transferred between post offices and banks across India.
Tax Benefits of Sukanya Samriddhi Yojana 2024
- Investments in SSY qualify for deductions under Section 80C, up to Rs.1.5 lakh.
- The accumulated interest is tax-free under Section 10 of the Income Tax Act.
- Maturity withdrawals are also tax-free.
Sukanya Samriddhi Yojana Interest Rate 2024
The interest rate for July to September 2024 is 8.2%, determined quarterly. Here is the historical trend:
Year | Apr-Jun | Jul-Sep | Oct-Dec | Jan-Mar |
---|---|---|---|---|
2024-2025 | 8.2 | 8.2 | – | – |
2023-2024 | 8.0 | 8.0 | 8.0 | 8.2 |
2022-2023 | 7.6 | 7.6 | 7.6 | 7.6 |
Eligibility for Sukanya Samriddhi Yojana 2024
- Only parents or legal guardians of a girl child below age 10 can open an SSY account.
- The girl must be an Indian resident.
- Only one account per girl child and two accounts per family are allowed.
How to Open an SSY Account at a Post Office?
- Visit the participating bank or post office.
- Fill out the application form (Form 1) with relevant details.
- Pay the first deposit, from Rs.250 up to Rs.1.5 lakh.
- The account will be opened, and a passbook will be issued.
Application Form Overview
Instructions for filling the SSY application form:
- Fill in post office/bank details and address.
- Attach the applicant(s) photo.
- Enter deposit amount in numbers and words.
- Provide guardian’s details including Aadhaar and PAN numbers.
- Attach necessary KYC documents.
- Provide two witnesses’ signatures if required.
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