Post Office Sukanya Samriddhi Yojana

Post office sukanya samriddhi yojana

Post Office Sukanya Samriddhi Yojana

The Post Office Sukanya Samriddhi Yojna (SSY) is a government-backed savings scheme that aims to promote financial security for a girl child. The post office sukanya samriddhi yojana scheme encourages parents to save for their daughter’s future education or marriage expenses. The scheme was launched as a part of the ‘Beti Bachao, Beti Padhao’ campaign in 2015, offering attractive interest rates, tax benefits, and a secure investment avenue for parents and guardians. Let’s explore how to open an Indian post office sukanya samriddhi yojana account and learn more about its features and benefits.
The interest rate for Sukanya Samriddhi Yojna is revised every year by the government. It is reviewed every quarter and for the financial year 2023-24, the interest rate is 8%.

SSY Interest rate 8% per annum  (Effective from July 01, 2023)
gold image

Apply for Personal Loan with Quick Approval

How To Open A Sukanya Samriddhi Yojana Account With Post Office?

The post office provides a straightforward process which can be done both online and offline. However, some criteria must be met before opening a new account; these are:

  1. The account can be opened by the parents or guardians of a girl child below the age of 10 years.
  2. Only two accounts can be opened for two girl children in one family. However, there is an exception if the family has twins allowing them a maximum of three accounts.
  3. The account must be active for 21 years or until the daughter marries after 18 years.

How to Apply Offline?

The offline process is easy. All you have to do is follow the steps given below to start a new account for your daughter:

  1. Visit the nearest post office: Find the nearest branch offering the SSY scheme.
  2. Collect required documents: Collect all the necessary documents, such as the birth certificate of the child, identity proof of the parents or guardians, and address proof of the child’s parents or guardians.
  3. SSY account opening form: Ask for the account opening form from the post office and fill in all the necessary details.
  4. Provide the KYC documents: After filling the indian post office sukanya samriddhi yojana form, submit it along with the necessary KYC documents to the staff at the post office for verification.
  5. Make the initial deposit: The minimum amount required to open an account is ₹250, which can be paid in cash or cheque. Making this payment will initiate the account activation.
  6. Get the passbook and account details: The post office will issue a passbook when the application has been processed, and the deposit has been received. The passbook will contain all the details related to the account, including the account number and the deposited amount.
credit score

Check Your Credit Score for Free

Also get a Free Credit Report

How to Apply Online?

Opening a Post Office Sukanya Samriddhi Yojana account online is easy and convenient. Below are the steps to open a post office SSY account:

  1. Go to the India Post website:
  2. Click on Post Office Saving Banks
  3. Click on the “Sukanya Samriddhi Yojana” link.
  4. Click on the “Open an account online” link.
  5. Fill in the application form and enter the required information, such as the girl child’s name, date of birth, and the parent’s or guardian’s name.
  6. Upload documents like the child’s birth certificate and the parent’s or guardian’s identity and address proof.
  7. Pay the initial deposit of ₹250 through the online payment gateway.
  8. Click on the “Submit” button.

Once the form has been submitted, India Post will process the request and send you a confirmation email. Then visit the nearest post office with the confirmation email and documents to collect the passbook.

Features of Sukanya Samriddhi Yojana

Features of Sukanya Samriddhi Yojana

The Post Office Sukanya Samriddhi Yojana has many features that make it popular and attractive to many parents or guardians looking to secure their daughter’s future. Some of these features are:

  • High-interest rate: The Sukanya Samriddhi Yojana offers the highest interest rates among small savings schemes. The government reviews and revises the interest rate every quarter which is also compounded annually.
  • Long tenure: The tenure for the scheme is 21 years from the date of opening or when the girl gets married after she attains 18 years of age, whichever is earlier.
  • Tax benefits: Contributions to the scheme are eligible for tax deductions under section 80 C of the Income Tax Act. The interest earned and maturity amount are also exempted from tax.
  • Flexible investment options: SSY scheme allows people to invest any amount of money starting from ₹250 to ₹1.5 lakhs per financial year.
  • Partial withdrawal facility: Partial withdrawal is permitted when the child is 18 years of age under certain circumstances.
gold image

Apply for Personal Loan with Quick Approval

What Are The Benefits of Sukanya Samriddhi Yojana in The Post Office?

Getting an SSY account from the post office is highly beneficial for several reasons, these are:

  • As of 2023 – 2024, the interest rate compounded is 7.6% per annum, credited to the account monthly.
  • If the amount is not withdrawn after the maturity of 21 years, the interest will keep compounding as per the current rate.
  • The SSY account in the post office is transferable if the depositor relocates. The account can be transferred to any authorised post office in the new place.
  • Any funds deposited in the post office sukanya samriddhi yojana are eligible for tax deduction per Section 80C of the Income Tax Act.

In Conclusion

The Indian post office sukanya samriddhi yojna is an excellent initiative by the government to secure the future of India’s daughters. Through attractive interest rates and flexibility in investments, parents and guardians are encouraged to plan financially for the well-being of their children. Empowering their daughters to achieve their dreams and aspirations.

Download Personal Loan App

Get a loan instantly! Best Personal Loan App for your needs!!

Looking for an instant loan? Buddy Loan helps you get an instant loan from the best RBI-approved lenders. Download the Buddy Loan App from the Play Store or App Store and apply for a loan now!

buddyloan logo

Rated 4.5 on Google Play

Apply for Loan on BUDDYLOAN App

Interest rates starts @11.99% p.a. onwards

10mn+ App Installs

Having any queries? Do reach us at


Q. What is the interest rate for Sukanya Samriddhi Yojana 2023?
The interest rate for Sukanya Samriddhi Yojana 2023 is 8%.

Q. What is the age limit for Sukanya Samriddhi Yojana?
The SSY account can be opened at any time till the girl attains 10 years of age.

Q. How many years need to pay for Sukanya Samriddhi Yojana?
The minimum contribution that is required to be made is for 15 years.

Q. How can I change my address in Sukanya Samriddhi Yojana?
To change the address in a SSY account, all you have to do is go to the post office or bank and submit the SSY transfer request form.

Q. What is the maturity amount of Sukanya Samriddhi Yojana?
The maturity amount of SSY will be the total amount deposited plus the interest.

Q. Can parents withdraw money from Sukanya samriddhi account?
Yes, withdrawal by parents can be done if it’s for the child’s education or marriage expenses.

Q. Can Sukanya Samriddhi Account be extended after maturity?
No, an extension cannot be made after maturity.

Q. Can I deposit 10 lakhs in Sukanya Samriddhi?
No, the maximum amount that can be deposited is 1.5 lakhs.