Sukanya Samriddhi Yojana is a govt saving scheme under Beti Bachao, Beti Padhao Yojana. In this scheme, Girls are eligible to open an account in Sukanya Samriddhi Yojana. Girl's age must below the age of 10 years. The parents can open only two girls' account in Sukanya Samriddhi Yojana.
The girl can run this account up to the age of 21 years or till her marriage after 18 years. When the girl reaches the age of 18, the Parent can withdraw 50% of the total amount for girl higher education.
Table of Contents
Sukanya Scheme Eligibility
To open an account under Sukanya Samriddhi Yojana, the girl must fulfill the following conditions:
- The Girl's age under 10 year.
- Rs. 1000/- need to deposit while opening an account.
- Minimum Rs 250 or Maximum Rs. 1.5 Lakh can deposit into the account.
- The Parents of Girl need to deposit money in the account for 15 years.
Sukanya Yojana Maturity
Parents of girls can open the account when a girl age is 9 years or 10 years. They have to deposit money regularly in the account until the girl reaches up to 24 years. The Maturity of Sukanya Samriddhi Yojana comes when the girl reaches the age of 21 years or till her marriage after 18 years. The following condition should match for Sukanya Samriddhi Yojana Maturity:
- First of all, if the girl gets married before 21 year then parents cannot deposit the amount into account.
- if the girl wants to close this account then she needs to submit an affidavit about her age.
The girl needs to present Withdrawl slip and bank passbook at the time of Maturity. After that total amount will be deposit into the girl's bank account.
Sukanya Samriddhi Scheme Interest Rate
Rate of Interest on Sukanya Samriddhi Yojana account is 8% per annum. You can almost double your money in Sukanya Samriddhi Yojana in the long term.
Sukanya Yojana Benefits
This scheme is the instrument of the Guaranteed return backed by a sovereign guarantee and with an IET status. Parents can claim Tax exemption under 80c Section for income tax. Interest in the maturity of Scheme is also Tax exempted. Parents don't need to pay any taxes on SSY amount and Interest amount.
What Document Required for Scheme?
You need the following documents for this scheme:
- Birth Certificate of Girl.
- Account opening form of Sukanya Samriddhi Yojana.
- Parent's identity proof like Aadhaar Card, Pan Card.
- Address Proof of Parents like Ration Card, Passport or Electricity Bill.
How to calculate premium on Sukanya Yojana ?
| Child’s Age | account age | amount yearly | The Amount at the end of the year | Interest rate | interest amount | total at the end of the year |
| 3 | 1 | 12000 | 12000 | 9.1 | 1092 | 13092 |
| 4 | 2 | 12000 | 25092 | 8.61 | 2160.42 | 27252.42 |
| 5 | 3 | 12000 | 39252.4212 | 8.61 | 3379.63 | 42632.05 |
| 6 | 4 | 12000 | 54632.05467 | 8.61 | 4703.81 | 59335.87 |
| 7 | 5 | 12000 | 71335.87457 | 8.61 | 6142.01 | 77477.89 |
| 8 | 6 | 12000 | 89477.89337 | 8.61 | 7704.04 | 97181.93 |
| 9 | 7 | 12000 | 109181.94 | 8.61 | 9400.56 | 118582.50 |
| 10 | 8 | 12000 | 130582.505 | 8.61 | 11243.15 | 141825.65 |
| 11 | 9 | 12000 | 153825.6587 | 8.61 | 13244.38 | 167070.04 |
| 12 | 10 | 12000 | 179070.0479 | 8.61 | 15417.93 | 194487.97 |
| 13 | 11 | 12000 | 206487.979 | 8.61 | 17778.61 | 224266.59 |
| 14 | 12 | 12000 | 236266.594 | 8.61 | 20342.55 | 256609.14 |
| 15 | 13 | 12000 | 268609.1478 | 8.61 | 23127.24 | 291736.39 |
| 16 | 14 | 12000 | 303736.3954 | 8.61 | 26151.70 | 329888.09 |
| 17 | 15 | 0 | 329888.0991 | 8.61 | 28403.36 | 358291.46 |
| 18 | 16 | 0 | 358291.4644 | 8.61 | 30848.89 | 389140.35 |
| 19 | 17 | 0 | 389140.3595 | 8.61 | 33504.98 | 422645.34 |
| 20 | 18 | 0 | 422645.3444 | 8.61 | 36389.76 | 459035.10 |
| 21 | 19 | 0 | 459035.1086 | 8.61 | 39522.92 | 498558.03 |
| 22 | 20 | 0 | 498558.0314 | 8.61 | 42925.84 | 541483.87 |
| 23 | 21 | 0 | 541483.8779 | 8.61 | 46621.76 | 588105.63 |
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