Sukanya Samriddhi Account meaning Girl Child Prosperity Scheme is a special deposit scheme launched by Prime Minister Narendra Modi on 22 January 2015 for girl child.

Who Can Open and Age Limit:

Under this scheme a saving account can be opened by the parent or legal guardian of a girl child of less than 10 years of age (born on or after: 02-December-2003; For FY 2014-15) with a minimum deposit of 1,000/- in any post office or authorised branches of commercial bank.One can’t open SSA account for his/her sisters or brothers daughter’s account. In case you want to open this account for your sister in absentee of your father in your family you can open.
Govt is providing a grace period of 1 year till December 2015. Any girl child born between 2 December 2003 and 1 December 2004 can open account up to till 1 December 2015.

Documents Needed:

  1. Birth documents of girl child(Birth certificate)
  2. Address proof
  3. Identity proof

Interest Rate:

  • Under the scheme, an interest of 9.1 per cent is provided on deposited amount which is tax free.


    • The account will remain operative for 21 years from the date of opening of the account or till marriage of the girl child.

      Deposit Term:

      • One can deposit in SSA upto 14 years from the opening of account after that no deposits are allowed but will get the compounded interest till maturity.

        Pre-Mature Withdrawl:

        • Partial withdrawal up to 50 per cent of the account balance is allowed, only once after the girl child completes age of 18 years, for the purpose of financing her higher education.


          • Though the duration of the Sukanya Samriddhi account is 21 years from the date of the opening of the account except for the case when the marriage of the account holder (girl child) takes place before the completion of those 21 years, then the account has to be closed. 

          Number of Accounts:

          • Per girl child only single account is allowed. Parents can open this account for maximum two girl child. In the event of birth of twin girls in 2nd birth or birth of 3 girl child’s in 1st birth itself, this facility will be extended to third child


          • In case you forget to deposit the minimum amount of rs 1000 in your Sukanya Samriddhi Account then your account will be discontinued. But nothing to worry, you can pay a penalty of Rs 50 only and again activate the account. The account will continue from where it has stopped operating.

          Other Features:

          1. Minimum deposit amount for this account is 1,000/- and maximum is 1,50,000/- per year.
          2. Money to be deposited for 14 years in this account.
          3. Interest rate for this account is 9.1% per annum, calculated on yearly basis ,Yearly compounded.
          4. Interest rate is tied to 10 year Government of India Bond Yield, and will be 75 basis point higher than the respective year’s bond yield.
          5. Passbook facility is available with Sukanya Samriddhi account.
          6. From FY 2015-16 the interest earned on account will be tax exempted. As per Finance Bill 2015-16.
          7. Enjoy interest from 14 – 21 years without deposit
          8. After budget 2015, Sukanya Samriddhi Account has been income tax exempted 100%
          9. So far there is no scope for NRIs (Non Resident Indian) to open SSY account. Govt has to clear about this in future notifications.