Sukanya Samriddhi Yojana 2021: Save 15 Lakh Investing 100 Rupees Every Day


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15 lakhs will be available if you saving 100 rupees every day. Know Online Registration, Objectives, Eligibility & Benefits of Sukanya Samriddhi Yojana 2021

Sukanya Samriddhi Yojana was inaugurated by the Prime Minister of our country Shri Narendra Modi on 22 January 2015 under Beti Bachao Beti Padhao. Under this scheme savings account is opened for daughters of the country. This scheme is called “Sukanya Samriddhi Yojana“. It is also said that under this scheme, the account of girls below the age of 10 years can be opened by the post office, national bank, other agency. Dear friends, I will share complete information related to Sukanya Samriddhi Yojana 2021 like the application process, documents, etc.

Table of Contents

Sukanya Samriddhi Yojana 2021

Sukanya Samriddhi Account, which was launched on 2nd December 2014 under Beti Bachao Beti Padhao Scheme. The account is open under PM Kanya Yojana from the birth of the child until the age of ten years. Sukanya Samriddhi Accounts can be opened at any local post office. The minimum amount that can be deposited into this account is 250. Sukanya Samriddhi Yojana. It’s primary objective is to improve girls’ futures. 

Girls shouldn’t have to worry about money when they are eligible to study or marry. Let us tell you, this scheme allows girls 18 and older to withdraw money from their account. If girls in our country make progress, we will also be able move forward.

As part of “Beti Bachao , Beti Padhao Yojana” Sukanya Samriddhi Yojana is the government-supported savings scheme for children. The parents of a young girl under the age of 10 will open it. This plan includes a 7.6 per cent average cumulative interest rate from April 2020.

Changes made in Sukanya Samriddhi Yojana

Five changes have been made by the government under this scheme. Which you need to know about. We have given below about these five changes. You should read this information carefully.

Changes in premature account closing rules

According to this new rule, the account can be closed before maturity on the basis of the death or sympathy of the girl under this scheme. Sympathy refers to the situation where the account holder has to undergo treatment for a fatal illness or death of the guardian. In such a situation, the bank can close the account before the maturity period.

High interest rate on default account

Under Sukanya Samridhi Yojana, if a person does not deposit a minimum amount of Rs 250 in a year in Sukanya Samriddhi account, then it is considered as a default account. As per the new rule notified by the government on December 12, 2019, now the interest rate will be given on the amount deposited in such default account as fixed under this scheme. Also 8.7% on Sukanya Samriddhi Yojana account post office savings An interest rate of 4% will be available on the account.

Opening account of more than two girls

According to the new rule under this scheme, if a person has to submit additional documents to open an account of more than two daughters, now you are also required to submit an affidavit along with the daughter’s birth certificate.

Account handling

Under this scheme, according to the new rules of the government, the girl in whose name the account is, she cannot take control of her account till she turns 18, whereas earlier it was 10 years of age. When the child turns 18, the guardian will have to submit documents related to the child to the post office.

Other changes

In addition to the above changes to the rules of Sukanya Samridhi Yojana, some new provisions have been added, while some have been removed. It has not been clarified about them yet. As soon as we get some information about it, we will let you know through our article.

PM Kanya Yojana Account Transfer

Under Sukanya Samriddhi Yojana, accounts can be transferred from one place to another. This transfer can be done without any fees. For this, the account holder has to provide proof of transfer to the post office or bank. If the account holder is unable to provide proof of transfer, then he has to transfer the transfer by paying a fee of ₹ 100.

Objective of Sukanya Samriddhi Yojana 2021

The aim of Sukanya Samriddhi Yojana 2021 is to advance girls in the field of education and to not let the lack of money on getting married. And your daughter’s account can be opened in the bank for a minimum of Rs 250. With this SSY 2021, the girls of the country will get encouragement and will be able to move forward. Preventing feticide of girls through this scheme.

Sukanya Samriddhi Yojana Interest Rates 2020-21

Sukanya Samriddhi Yojana interest rate 2020-21: Sukanya Samriddhi Yojana interest rate (alone), which is 7.6%, is multiplied every year. Samridshi Yojana interest rate 2020: The government’s interest rate is set and periodically updated. The historical interest rates for girls in this government system are as follows:

Time PeriodInterest Rate (%)
April to June 20207.6
January to March 2020 8.4
July-Sep 20198.4
Apr-June 20198.5
Jan-March 20198.5
Oct-Dec 20188.5
July-Sep 20188.1
Apr-June 20188.1
Jan-March 20188.1
Oct-Dec 20178.3
July-Sep 20178.3
Apr to June 20178.4

Age Limit To Open Account Under Sukanya Samriddhi Yojana

Under Sukanya Samriddhi Yojana, a daughter’s bank account can be opened from 0 to 10 years of age. Bank account cannot be opened under this scheme if the daughter’s age is more than 10 years. The account will be operated by the daughter’s parents or guardian.

SSY Sukanya Samriddhi Yojana Maturity and Partial Withdrawal

Some people think that the sukanya Samriddhi account matures with the age of 21 but it is completely wrong. The age of the girl has no relation with the maturity of the account. However, the account holder can withdraw the amount only when he attains the age of 18 years and the amount is being used for higher studies and marriage. The account will be closed later. Premature closure of account is allowed in the event of death of the account holder on production of death certificate issued by the competent authority. The balance is then credited to the parent and the account is closed.

Sukanya Samriddhi Yojana 2021

PM Kanya Yojana Tax Benefit

Under Section 80C of the Income Tax Act 1961, the amount deposited in Sukanya Samriddhi Yojana, the amount of interest and maturity amount is tax free. A rebate has been provided by the government on contributions made under this scheme, which is up to ₹ 150000 per year.

Major Benefits

Beneficiary Benefits

  • As per the Income Tax Act, all investments made under this scheme are eligible for the benefit of tax deduction. A maximum tax deduction of 1.5 lakh is allowed towards SSY.
  • Under this, interest is credited, which is credited to the account on an annual basis. There is no tax levied on this accrued / accumulated interest. This allows the funds under the scheme to be maximized.
  • The tax exemption can be claimed by either the girl’s parents or legal guardian. Only a depositor is eligible for tax exemption under Section 80C of the Income Tax Act.

Benefits of PM Kanya Yojana 2020

  • The benefit of this scheme will be provided to girls below 10 years of age.
  • Under Sukanya Samriddhi Yojana, guardians of girls can open a savings account for them. Until that girl turns 10.
  • Under this scheme, a maximum of Rs 1.5 lakh can be deposited during the current financial year.
  • Under PM Kanya Yojana 2020, you can easily secure the future of your girls.
  • This will help in your girl’s education or marriage.
  • You can easily start this scheme in any bank or post office.

Authorized bank for Sukanya Samriddhi Yojana

There are a total of 28 banks authorized by the Reserve Bank of India (RBI) to open Sukanya Samriddhi Yojana accounts. Users can open SSY account in any of the following banks and avail this scheme.

  • Allahabad Bank
  • State Bank of India (SBI)
  • axis Bank
  • Andhra Bank
  • Bank of Maharashtra (BOM)
  • Bank of India (BOI)
  • Corporation Bank
  • Central Bank of India (CBI)
  • Canara Bank
  • Dena Bank
  • Bank of Baroda (BOB)
  • State Bank of Patiala (SBP)
  • State Bank of Mysore (SBM)
  • Indian Overseas Bank (IOB)
  • Indian Bank
  • Punjab National Bank (PNB)
  • IDBI Bank
  • ICICI Bank
  • Syndicate bank
  • State Bank of Bikaner and Jaipur (SBBJ)
  • State Bank of Travancore (SBT)
  • Oriental Bank of Commerce (OBC)
  • State Bank of Hyderabad (SBH)
  • Punjab and Sindh Bank

SSY 2021 Documents (Eligibility)

  • To open an account under this scheme, the girl’s age should be less than 10 years.
  • Aadhar Card
  • Baby and parents photo
  • Girl Child Birth Certificate
  • proof of residence
  • Depositor (parent or legal guardian) ie PAN card, ration card, driving license

Sukanya Samriddhi Yojana (SSY) Registration: Apply Now

A new account application form can be obtained by visiting a post office nearby or a public/private sector bank participating for Sukanya Samriddhi Yojana (SSY). In addition, you can also download the RBI website SSY New Account Request Form.

Step to Download Sukanya Samriddhi Yojana Application Form Online 2021

Step 1: You can download the application form for Sukanya Samriddhi Yojana Account from different source sources, such as:

  • Individual websites of public sector banks (SBI, PNB, BoB, etc.)
  • The websites of participating private sector banks (e.g. ICICI Bank, Axis Bank and HDFC Bank)
  • The Reserve Bank of India Website
  • The India Post Website

Step 2: While the SSY application form is available from many outlets, the form areas are the same irrespective of their source.

Step to fill SSY Application Form 2021

In the SSY form, applicants are required to provide certain key information regarding the child under Beti Bachao , Beti Padhao Yojana in whose name investment is made. Specifics are also requested of the parent / guardian who will be opening the deposits for him / her. The main fields in the SSY application form are as follows:

  • Name of Girl Child (Primary Account Holder)
  • Name of Parent/Guardian opening the account (Joint Holder)
  • Initial deposit amount
  • Cheque/DD Number and Date (used for initial deposit)
  • Date of Birth of girl child
  • Birth Certificate details of primary account holder (Certificate number, date of issue, etc.)
  • ID Details of Parent/Guardian (Driving License, Aadhaar, etc.)
  • Present and Permanent Address (as per ID document of parent/guardian)
  • Details of any other KYC Documents (PAN, Voter ID card, etc.)

Check the balance of the SSY account

  • If your account is kept by a participating banking branch, the balance of your account can easily be reviewed by Internet banking or mobile banking.
  • However, for easier access to account information, you need to ensure this account is linked to your existing net banking account.
  • In addition to the upgrade option for the passbook by physically visiting the banking branch, this alternative is an online balance check on SSY accounts with participating banks

Sukanya Samriddhi Yojana Calculator

When you plan to invest in the method, you can measure the maturity at the end of your tenure using the Sukanya Samriddhi Yojana calculator. The calculator can be used to figure out how much you can save for the higher education and/or marriage of your daughter using this system.

Up to Rs 1.5 lakh can be invested in Sukanya Samriddhi Yojana in a year.

The central government has not made any change in the interest rates of small savings schemes for the July-September quarter. Along with this, now the interest on Sukanya Samriddhi Yojana is also getting the same as the last quarter. Sukanya Samridhi Yojana is one of the savings schemes of the central government, in which tax free investment can be made for daughters till a certain age. Exemption is available under section 80C of the Income Tax Act. This tax exemption is available on investments up to a maximum of Rs 1.5 lakh in a year.

SSY was launched by the Central Government in the year 2015 to create a capital for the education, marriage and other expenses of daughters. If you look at it compared to other schemes, then it also gets better interest. For the July-September quarter, the scheme is earning an interest rate of 7.6 per cent per annum. The interest earned on this is also compounded annually.

Benefit of interest at the rate of 7.6 per cent if you start investing before September 30

If invested in this scheme in the right way, then big capital can be made for the daughter. Today we are telling you that if you invest in this scheme before 30th September, then how will you make a huge capital of Rs 15 lakh on maturity. Keep in mind that the maturity amount is paid only to the person in whose name the investment has been made in this scheme.

Make Rs 15 lakh by saving Rs 100 everyday

If a person invests Rs 3,000 every month in this scheme, then the total amount invested by him in a year will be Rs 36,000. After investing for 14 years, he will get Rs 9,87,637 in terms of interest at the rate of 7.6 per cent per annum. Under the rule of this scheme, the maturity of Sukanya Samriddhi Account is completed only when the daughter attains the age of 21 years. In such a situation, on the completion of 21 years of the daughter’s age, you can get Rs 15,27,637.


How to deposit funds in Sukanya Samriddhi Yojana Account?

You can deposit the Sukanya Samriddhi Yojana 2021 account by cash, demand draft or in electronic transfer mode in the post office or bank where the core banking system can be deposited, for opening the account, the name and the name of the account holder will have to be written. Any person can deposit money in his daughter’s accounty by following this various ways.

What is the investment limit in this scheme?

For Sukanya Samriddhi Yojana, you can open an account in any bank or post office. In this scheme, you can invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh during a year. The account may also get closed if the minimum amount is not invested every year.

Under what conditions can Sukanya Samriddhi account be closed before maturity?

Sukanya Samriddhi Yojana account can be closed if the account holder dies. In this case, it will be mandatory to show the death certificate of the account holder. After which the amount deposited in this account will be returned to the daughter’s guardian along with interest.
Apart from this, Sukanya Samriddhi Yojana can be closed due to any reason even after 5 years of opening the account. In this case, the interest rate will be available according to the savings bank account. 50% of the funds can also be withdrawn from the account for the daughter’s education. This withdrawal can be done after the daughter is 18 years old.

What will happen if Sukanya Samriddhi is not deposited under the scheme?

If for some reason the account holder is unable to deposit the amount under Sukanya Samriddhi Yojana, then he will have to pay a penalty of ₹ 50 per annum. And with this, the minimum amount to be paid every year. If the penalty is not paid, the Sukanya Samriddhi Yojana account will get an interest rate equal to the savings account which is four per cent.

How do I use Sukanya Samriddhi?

The calculator will ask you to include your daughter’s age and the sum you would like to investite in the scheme if you meet the eligibility criteria. In a single financial year the minimum amount you can spend is Rs 1 000 and the limit is Rs 1.5 lakh. The Government reduced the minimum expenditure to Rs 250 with effect from 5 July 2018.

Who can use the Calculator?

The first step to take advantage of the SSY calculator is to check whether the eligibility criteria of the scheme have been met. The SSY account may be opened by the legal guardians of the child provided that the following conditions are set out below in Eligibility Criteria & Important Document.

How to use the Samriddhi Sukanya calculator?

If you meet the eligibility requirements, the calculator will ask you to specify the age of your daughter and the amount you want to invest in the scheme. 
The minimum amount you can invest is Rs 1,000 and the maximum amount is Rs 1.5 lakh in a single financial year.The Government reduced the minimum investment amount to Rs 250 with effect from 5 July 2018.

How this calculator works?

The formula measures the average value you earn at maturity depending on the number you reach. After 21 years from the day the account is opened, the scheme matures.

How many daughters can get benefit under Sukanya Samriddhi Yojana?

Under Sukanya Samriddhi Yojana only two daughters of one family can get benefit. If there are more than 2 daughters in a family, then only two daughters of that family can avail of this scheme.
But if there are twin daughters in a family, then they will get the benefit of this scheme separately, that is, then three daughters of that family will be able to benefit. The twin daughters will be counted the same but their benefits will be given separately.

How much money is required to Deposit and Timeline for it?

Under Sukanya Samriddhi Yojana, there was earlier a provision of giving ₹ 1000 per month. Which has now been worked out to ₹ 250 per month. Investments from ₹ 250 to ₹ 150000 can be made under this scheme. Under this scheme, it will be mandatory to invest for 14 years after opening a bank account

Important Links

Online ApplicationSign-in/Register
Sukanya Samriddhi Yojana 2020Website

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Raushan Kumar
A Cook, Software analyst & Blogger.



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