Token amount of Rs.250 to open a Sukanya Samriddhi Yojana account

With a minimum deposit of Rs.250, you can open an SSY account and the maximum deposit amount can be Rs.1,50,000. Subsequent deposits shall be in multiples of fifty rupees subject to the condition that a minimum of two hundred and fifty rupees shall be made as deposit in a financial year in one account. The deposits can be made in one lumpsum or in multiple instalments in a Financial Year.

Double Tax Benefits

Under Section 80C of Income Tax Act, deposits up to Rs.1,50,000 are eligible for a deduction.

The interest earned on the deposit is tax free.

Attractive rate of interest

Account holders can earn 7.6% interest (01.07.2020 -to-30.09.2020) on their deposits.

Yearly interest credited in the account at the end of Financial Year

No interest is payable after completion of 21 years from the date of opening.

Deposit to be made for 15 years and not after

You only need to keep making deposits every year until 15 years from the day you opened the account.

Under special circumstances, premature withdrawal is allowed

On account of death of the Account holder.

After having maintained the account payment for 5 years from opening of account in cases of extreme compassionate grounds supported by complete documentation.

After attaining the legal age of 18, if the girl child enters a wed lock, the account can be prematurely closed. The beneficiary will have to show related documents within three months after marriage or intent of marriage can be shown a month before the marriage.

If the account holder becomes NRI during the currency of the account, the account shall be continued till maturity. However, the account shall be closed or deemed to be closed if the account holder ceases to be a citizen of India.

Premature closure of an Account may be permitted, anytime after the opening of an account for any reason other than mentioned above and in that case the whole deposit shall be eligible only for the interest rate prescribed for the Post Office Savings Bank

Under special circumstances, premature closure is allowed: