India NewsInformation

Sukanya Samriddhi Yojana 2024: Interest Rate, Apply Online, Eligibility and All You Need To Know

Sukanya Samriddhi Yojana is a flagship scheme under the Ministry of Finance, started by the Central Government as a part of the “Beti Bachao Beti Padhao” campaign. 

The scheme is specifically designed to meet the future expenses of a daughter’s marriage, education and higher education. Sukanya Samriddhi Yojana helps parents to raise their daughters nicely without worrying about their future. 

Objective of Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana was initially started by the Government of India to secure the future of a girl child.

Interest Rate

With this scheme, parents can save some amount of money for their daughter’s future, for which they will be getting an impressive interest from the government as well. Currently, Sukanya Samriddhi Yojana offers 8.2% per annum.

Via Sukanya Samriddhi Yojana, poor parents of a daughter can open a savings bank account and invest money in their daughter’s future. 

Eligibility Criteria for Sukanya Samriddhi Yojana

In order to avail the benefits provided under the Sukanya samriddhi Yojana, the following eligibility criteria must be met. 

1. The girl’s child and her parents should be Indian residents in order to open an account under the scheme. 

2. A total of two accounts can be opened by a family. However, an exception is allowed in the case of twins or triplets. Thus, a maximum of three accounts can be opened under the scheme. 

3 Sukanya Samridhi Yojana account must be opened before the girl attains the age of 10. 

4. Only one account can be opened in the name of a beneficiary. 

Premature Withdrawal

Premature withdrawal is possible in the case of the following situations. 

Only 50% of the funds can be withdrawn, the minimum after five years from the date of initial investment. 

A girl child attaining 18 years of age can withdraw up to 50% of the total invested amount for her higher education. 

The maximum tenure until which money is invested is 15 years under Sukanya Samriddhi Yojana. 

Premature Closure of SSY Account

An SSY account can be closed before its completion under the following circumstances.

1. If the beneficiary gets married after completion of 18 years. 

2. If the account holder meets an unexpected death. 

3. If the beneficiary is financially insufficient to continue the account.

Documents Required

Documents required to open an account under an SSY account are the following. 

1. Birth certificate of the girl’s child.

2. Aadhar Card/PAN Card/Identity Card of Parents

3. Address proof

4. Documents demanded by the bank and post office

5. Passport size photo

How to open an account under Sukanya Samriddhi Yojana

Follow the following steps to open an account under the SSY 2024.

1. Eligible parents or children are required to visit the nearest post office or bank to open an SSY account. 

2. Get an application form to fill up the Sukanya Samriddhi Yojana.

3. Fill up the application form with all the correct information asked carefully on the application form. 

4. After filling in the form, attach the documents mentioned above with the form. 

5. Then go back to the post office or bank and submit the duly filled application form along with attested documents. 

6. After submission, an SSY account will be opened in your daughter’s name.

How to Apply for a Sukanya Samriddhi Account Online?

Until now there is no such provision for opening the Sukanya Samriddhi Yojana account online. Neither the post offices nor the authorized bank branches are allowed to open an SSY account online. However, you can visit the post office or bank branch with documents and can set the standing instructions by paying online via net banking.


1. What is the Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana is a savings scheme launched by the Government of India as part of the “Beti Bachao Beti Padhao” campaign. It is designed to meet the future financial needs of a girl child, including her education and marriage.

2. Who is eligible to open an SSY account?

To open an SSY account, the girl child and her parents must be Indian residents. The account must be opened before the girl child attains the age of 10 years.

3. How many SSY accounts can a family open?

A family can open up to two SSY accounts. However, in the case of twins or triplets, a maximum of three accounts can be opened.

4. What documents are required to open an SSY account?

Birth certificate of the girl child
Identity proof of parents (Aadhar Card/PAN Card/Identity Card)
Address proof
Passport size photo
Any other documents as demanded by the bank or post office

5. What is the interest rate for the Sukanya Samriddhi Yojana?

The interest rate for SSY is subject to change and is decided by the Government of India. Currently, Sukanya Samriddhi Yojana offers 8.2% per annum.

Also Read:

PM Vishwakarma Yojana 2024: How to Apply Online; STEP-BY-STEP Guide

Pradhan Mantri Surya Ghar Yojana 2024: Scheme Details, Eligibility, Subsidy and How To Apply Online?

Subhashree Panda

Subhashree Panda: A proficient content writer, editor, and researcher. With 4 years of experience and an MBA in finance, she crafts compelling narratives on global events. Her passion for diverse journalism genres resonates widely, fostering broad audience connections.

Related Articles