Sukanya Samriddhi Yojana (SSY)
A small savings scheme to secure the future of the girl child.
The Sukanya Samriddhi Yojana (SSY) was launched on 22 January 2015 as part of the Beti Bachao Beti Padhao campaign. It is a small deposit savings scheme designed to encourage parents to build a fund for the future education and marriage expenses of their girl child.
Scheme at a Glance
| Launched | 22 January 2015 |
| Lead Ministry | Ministry of Finance (Small Savings) |
| Account For | Girl child below 10 years of age |
| Deposit Range | Min ₹250 to Max ₹1.5 lakh per year |
| Tax Status | EEE (Exempt-Exempt-Exempt) |
Key Features
- Account can be opened by parents/guardians for a girl child below 10 years.
- Deposits are made for 15 years and the account matures after 21 years from opening.
- A maximum of two accounts are allowed per family (one per girl child, with exceptions for twins).
- Partial withdrawal allowed for higher education after the girl turns 18.
- SSY typically offers one of the highest interest rates among small savings schemes (revised quarterly by the government).
- Deposits qualify for deduction under Section 80C of the Income Tax Act.
- Accounts can be opened at post offices and authorised banks.
Practice MCQs
Q1. Sukanya Samriddhi Yojana is associated with which campaign?
a) Make in India b) Beti Bachao Beti Padhao c) Digital India d) Skill India
Answer: b) Beti Bachao Beti Padhao
Q2. An SSY account can be opened for a girl child below what age?
a) 5 years b) 8 years c) 10 years d) 12 years
Answer: c) 10 years
Q3. What is the maximum annual deposit allowed in an SSY account?
a) ₹50,000 b) ₹1 lakh c) ₹1.5 lakh d) ₹2 lakh
Answer: c) ₹1.5 lakh
Q4. After how many years from opening does an SSY account mature?
a) 15 years b) 18 years c) 21 years d) 25 years
Answer: c) 21 years
Q5. The tax status of SSY is:
a) Fully taxable b) EEE (Exempt-Exempt-Exempt) c) Taxable on maturity d) Partially taxable
Answer: b) EEE (Exempt-Exempt-Exempt)