Sukanya Samriddhi Yojana: Eligibility & Features

In terms of education and financial freedom, the government has taken a lot of measures and initiatives for the country’s people. One such initiative is the Sukanya Samriddhi Yojana. With this scheme, parents will save money for their girl child that they can spend on her education. However, some people also choose to spend it on her marriage. To open a Sukanya Samriddhi account, you just have to visit a nearby post office, and you will be made aware of the entire process. This scheme is helping tremendously in promoting education for the girl child in India.

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Eligibility and Features of the Sukanya Samkrddhi Yojana

  • The minimum money that you need to deposit in order to open a Sukanya Samriddhi account is only Rs. 250. Earlier, this value was Rs. 1000 but it was brought down so that people who do not earn very well could also think of opting for such great schemes for their daughter.
  • Annually, you have to deposit at least Rs 250 to keep the account active. This, too, was Rs 1000 earlier, and it has recently been brought down.
  • This account can only be opened by either the legal guardians or the parents of the girl child.
  • The girl child that will be having the account should be aged below ten years when you open the Sukanya Samriddhi account.
  • Every quarter the interest rates of the Sukanya Samriddhi account are revised. Currently, the interest rate is 8.1% per annum. This interest is compounded yearly.
  • You can withdraw money from the Sukanya Samriddhi account only after 15 years. This means that you will have to keep the account active for 15 years and only use it for depositing money and not withdrawal.
  • The maturation of the account happens after 21 years of completion.
  • One girl cannot have multiple Sukanya Samriddhi accounts under her name.
  • For the purpose of marriage, premature closure of the account is allowed.
  • Other than most of the high-interest rate benefits, your daughter will also be able to enjoy tax-free money withdrawals. This is not something that you will be able to enjoy if you open a savings account for her in banks.
  • The interest money that you earn on the savings is also exempted from tax deductions. You can read more about it under the Income Tax Act.
  • Partial withdrawals from this account are also offered to girls who are doing so to pay for their education. However, she must reach the age of 18 to do so.

Also Read: National Pension Scheme (NPS)


According to many financial experts, Sukanya Samriddhi Yojana is a great initiative. Many times people do not think of saving for their girls as they only think of doing so for their boys. Therefore, for people who live in rural areas, Sukanya Samriddhi Yojana will help as an aid to them. Even little deposits in the account will let their daughters have some money in their hands at the hour of need. If your daughter’s age is below 10, you should think of opening one such account for her too.