Sukanya Samriddhi Yojana (SSY)
High-interest, tax-free savings account for a girl child
Government
Central Government
Who it’s for
Girl Child (under 10 years)
Application mode
In-person at Post Office/Bank (some banks offer online)
Processing time
Same-day account opening at the branch/post office once documents and deposit are submitted.
Deadline / renewal
Deposits must be made for a minimum of 15 years to avoid the account going into default (revivable by paying Rs 250/defaulted year + Rs 50 penalty per year). Partial withdrawal (up to 50%) allowed after the girl turns 18, for education or marriage expenses.
What it provides
Small savings account for a girl child with high, government-guaranteed interest (8.2% p.a. for Q2 FY2026-27, revised quarterly) and EEE tax status; matures at 21 years or girl's marriage after 18.
Benefits breakdown
Who’s eligible
Girl child below 10 years; account opened and operated by parent/legal guardian; max 2 accounts per family (relaxations for twins/triplets).
Documents required
- SSY account opening form (Form-1)
- Girl child's birth certificate
- Guardian's identity proof (Aadhaar/PAN/Voter ID)
- Guardian's address proof
- Passport-size photograph of the guardian (and sometimes the child)
- Initial deposit (minimum Rs 250, cash/cheque/DD)
How to apply
Online
- Some banks (e.g., select branches of HDFC, Axis, ICICI, SBI, India Post Payments Bank) offer partial online facilitation for existing customers, but full account opening still requires a branch visit for most institutions
In-person / offline
- Visit any post office or SSY-authorised bank branch
- Collect and fill Form-1 (SSY account opening form)
- Attach the girl child's birth certificate and guardian's KYC documents
- Make the initial deposit (minimum Rs 250)
- Set up nomination (mandatory — up to 4 nominees can be added)
- Collect the passbook — this is your proof of account and is needed for all future deposits/withdrawals
Helpline
India Post customer care / your specific bank's SSY helpline
FAQs
Can I open an SSY account fully online?
Not fully — SSY account opening generally requires a physical visit to a post office or bank branch, though a few banks allow partial online initiation for existing customers.
What if I miss a deposit in some years?
The account goes into default but can be revived by paying Rs 250 for each defaulted year plus a Rs 50 penalty per year.
Can grandparents open the account?
Only if they are the legal guardian of the girl child; otherwise, only the natural parent can open the account.
What happens after 15 years of deposits?
No further deposits are needed — the balance continues to earn 8.2% compound interest until the account matures 21 years after opening.
Last verified 31 August 2026