With regular deposits, a substantial amount may be created over the years using this scheme, that may help fulfill child's goals.

What is the Sukanya Samriddhi Yojana scheme? The Sukanya Samriddhi Yojana, a Central government savings scheme, is one of the main components of the "Beti Bachao, Beti Padhao" campaign. It aims to empower the girl child.

What is the Sukanya Samriddhi Yojana scheme?

As per this scheme, the parents or guardians of girls aged 10 or below can initiate a bank account under this scheme. It offers a higher interest rate and various tax benefits. Sukanya Samriddhi Yojana also serves as a dedicated savings plan.

This scheme ensures a "financially secure" future for the girl child. With regular deposits, a substantial amount may be created over the years, that may be utilized to fulfill the child's goals.

Sukanya Samriddhi Yojana: Eligibility 

The scheme may be initiated by the parent or legal guardian of the girl child, who must be below the age of 10 years at the time of opening the account. In this scheme, only one SSY account is allowed per girl child. In the meanwhile, a family can open a maximum of 2 SSY scheme accounts.

How to Apply for Sukanya Samriddhi Yojana? 

• Step 1: Visit the post office or a public/private bank to initiate the SSY application process.
• Step 2: Carry necessary documents that include the birth certificate of the girl child, photo ID of the parent or legal guardian who is applying for the same, address proof, and other KYC proofs that may include PAN card, Voter ID, etc.
• Step 3: Give the required documents to the post office or bank along with a filled-out application form.
• Step 4: Complete additional KYC requirements, if asked.
• Step 5: You may make an initial deposit in cash, check, or demand draft for a minimum amount of Rs 250, and the maximum deposit stands at Rs 1.5 lakh rupees.
• Step 6: Once your account is opened, you'll be issued a passbook that contains the details of the SSY account.

How to Apply for Sukanya Samriddhi Yojana online? 

• Visit the official website of RBI, Indian Post, or a bank. Download the Sukanya Samriddhi Yojana application form.
• Fill in your details for the girl child and parent/guardian.
• Scan and make additional documents ready to upload.
• Complete the online form and upload the required documents.
• Await confirmation.

Interest rate on Sukanya Samriddhi Yojana:

For the fiscal year 2023-24, the Central government has set the interest rates at 8 percent per annum.