Explore: What is Sukanya Samriddhi Yojana? 2024 Interest Rates, Benefits, Calculation, and Age Limit at PrimeNewsly.
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The Indian government has launched many schemes to benefit girls and women in India. The Sukanya Samriddhi Yojana (SSY) is one of those schemes, intended specifically for girl children. This scheme is a part of India’s well-known “Beti Bachao Beti Padhao” scheme. Parents of the girl child can use this scheme to save money for the girl’s education and other future needs.
Although SSY is a beneficial scheme for young girls and their parents, many Indians are unaware of its benefits. Continue reading to reveal Sukanya Samriddhi Yojana kya hai and how it can help girls and their parents financially.
It is a government saving scheme, benefiting millions of girl children in India. The Indian government launched this scheme in 2015 and it became an integral part of the Beti Bachao Beti Padhao initiative.
Parents, who cannot afford to pay lumpsum fees in top-end institutions or accumulate sufficient funds for marriage, can take advantage of this scheme. It helps parents steadily save money for the girl child to afford her education, wedding, and important expenses. Continue reading to reveal Sukanya Samriddhi Yojana interest rates and other important details.
The Sukanya Samriddhi Yojana age limit is 10 years and other eligibility criteria include:
The Sukanya Samriddhi Yojana age criteria are important to keep in mind if parents wish to take advantage of the scheme. The SSY account cannot be opened for girls, who are older than 10 years of age.
Parents can use the Sukanya Samriddhi Yojana post office or designated branches to open the SSY account for the girl child. The parents have to complete the KYC process and provide documents, such as an Adhaar Card, Passport, etc. to open the account.
The Sukanya Samriddhi Yojana application form will be available at the bank or post office. Parents have to fill out that form and provide the required documents with the initial deposit. The below-listed sources also provide the Sukanya Samriddhi Yojana form:
The Sukanya Samriddhi Yojana application form remains the same, regardless of the source of the form. Parents need the following documents when opening the SSY account for the girl child:
The Sukanya Samriddhi Yojana interest rate 2024 is 8.2% between January and March 2024. The accumulated amount under this scheme can change depending on the amount of money the girl child’s parents or guardians deposit every year.
Year |
Financial Year |
Deposited amount during the year (Rs.) |
Generated Interest in That Year (Rs.) |
Balance at the end of the year (Rs.) |
Rate of Interest (%) |
1 |
2023-2024 |
1,00,000 |
8,000 |
1,08,000 |
8.2 |
2 |
2024-2025 |
1,00,000 |
7,600 |
1,07,600 |
7.6 |
3 |
2025-2026 |
1,00,000 |
15,777.60 |
2,23,378 |
7.6 |
4 |
2026-2027 |
1,00,000 |
24,576.72 |
3,47,955 |
7.6 |
5 |
2027-2028 |
1,00,000 |
34,044.60 |
4,82,000 |
7.6 |
6 |
2028-2029 |
1,00,000 |
44,232.00 |
6,26,232 |
7.6 |
7 |
2029-2030 |
1,00,000 |
55,193.64 |
7,81,426 |
7.6 |
8 |
2030-2031 |
1,00,000 |
66,988.32 |
9,48,414 |
7.6 |
9 |
2031-2032 |
1,00,000 |
79,679.52 |
11,28,094 |
7.6 |
10 |
2032-2033 |
1,00,000 |
93,335.16 |
13,21,429 |
7.6 |
11 |
2033-2034 |
1,00,000 |
1,08,028.56 |
15,29,458 |
7.6 |
12 |
2034-2035 |
1,00,000 |
1,23,838.80 |
17,53,297 |
7.6 |
13 |
2035-2036 |
1,00,000 |
1,40,850.60 |
19,94,148 |
7.6 |
14 |
2036-2037 |
1,00,000 |
1,59,155.28 |
22,53,303 |
7.6 |
15 |
2037-2038 |
1,00,000 |
1,78,851.00 |
25,32,154 |
7.6 |
16 |
2038-2039 |
1,00,000 |
2,00,043.72 |
28,32,198 |
7.6 |
17 |
2039-2040 |
1,00,000 |
2,15,247.00 |
30,47,445 |
7.6 |
18 |
2040-2041 |
1,00,000 |
2,31,605.88 |
32,79,051 |
7.6 |
The top 3 GOVT Schemes for girls are as follows:
The BJP led central government launched the Beti Bachao Beti Padhao Yojana in January 2015. This scheme was introduced to save girl children in India. It was also launched to improve the sex ratio in India, which has been pretty successful since the launch. A girl child who gets a Beti Bachao Beti Padhao account, gets financial security to get better education and financial support at the time of wedding.
The Balika Samriddhi Yojana was launched in 1997 to improve the status of girl children in India. This scheme provides financial aid to parents and girls for their education. The central government provides scholarships to girl children, who are beneficiaries of this scheme. Therefore, it is one of the most admired schemes of Indian government.
As described in this post, the SSY has been helping many parents save funds for their girl children’s education and marriage. Millions of girl children became beneficiaries of this scheme and getting money saved for a secure financial future.
Being a part of the Beti Bachao Beti Padhao Yojana, the following Sukanya Samriddhi Yojana benefits make it a highly sought-after scheme in India:
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A: Parents or guardians must deposit at least 250 rupees to invest in the SSY scheme.
A: Parents can withdraw the money after 21 years for higher education or marriage of the girl.
A: Two girl children are eligible for the SSY account and the third girl child can also open the SSY account in special conditions.
A: Parents can deposit 1.5 lakh rupees maximum in one financial year under the SSY scheme.
A: Parents or guardians, who wish to save sufficient funds for the education and marriage of their girl child, should invest in the Sukanya Samriddhi Yojana.
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Conclusion
The Sukanya Samriddhi Yojana is one of the top 3 GOVT Schemes for girls in India. Millions of Indian parents have opened the Sukanya Samriddhi Yojana account for their girl children. This scheme offered an opportunity to provide better education to girl children and save more than the required sum of money for a memorable wedding. Try this scheme now if you also wish to provide a financially secure future to your girl child.
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