Sukanya Samriddhi Yojana (SSY) is an important scheme launched by the Government of India for bright future and economic security of daughters. The objective of this scheme is to provide financial assistance for the education and marriage of daughters. The scheme is part of Beti Bachao, Beti Padhao campaign and was launched on 22 January 2015.
Recently, social media and other mediums are being claimed that on applying online in the SSY scheme, there will be ₹ 12,000 in the bank account directly. In this article, we will discuss in detail about the truth of this claim, the characteristics of the plan, the benefits, eligibility and application process.
What is Sukanya Samriddhi Yojana?
It is a government savings scheme especially made for daughters. Under this scheme, parents or parents can open an account in their daughter’s name and invest in it regularly. This account can be opened for 10 years of the age of the daughter. The account is matured in 21 years or the daughter’s wedding (after the age of 18) can be closed.
Brief description of Sukanya Samriddhi Yojana
| Description | Acquaintance |
| Name of the scheme | Sukanya Samriddhi Yojana (SSY) |
| Launch date | 22 January 2015 |
| Interest Rate (2025) | 8.2% per year |
| Minimum investment amount | ₹ 250 per year |
| Maximum investment amount | ₹ 1.5 lakh per year |
| Account opening age limit | Daughter age up to 10 years |
| Maturity period | 21 years or at the time of marriage |
| tax benefits | Tax exemption under Section 80C |
Main benefits of Sukanya Samriddhi Yojana
- High interest rate: This scheme provides higher interest rates than other savings schemes. The current interest rate is 8.2% per year.
- Tax exemption: In this scheme, investment, earned interest and maturity amount get tax exemption on all three.
- Long -term investment: This scheme promotes long -term investment, which gives the benefit of compound interest.
- Assistance for education and marriage: Partial withdrawal facility is available to meet the daughter’s higher education and wedding expenses.
- Safe investment: It is a government guarantee scheme, so it does not risk.
Eligibility Criteria
- Only Indian citizens can avail this scheme.
- The age of the daughter should be less than 10 years at the time of opening an account.
- A family can open accounts for a maximum of two daughters.
- Special discounts are given in the case of twin or three girls.
Application process (how to register for Sukanya Samriddhi Yojana)
Offline application:
- Visit the nearest post office or bank branch.
- Get SSY application form and fill the required information.
- Submit all necessary documents like Aadhaar card, birth certificate etc.
- Submit the initial amount of minimum ₹ 250.
Online application:
- Go to the official website of the concerned bank or post office.
- Choose the option of opening SSY account.
- Fill the form and upload the document.
- Complete the payment process.
Do ₹ 12,000 directly come to the bank account in SSY?
This claim is completely misleading and wrong. There is no such provision in Sukanya Samriddhi Yojana that the government will submit ₹ 12,000 directly to the bank account on applying online. The scheme is a savings account-based scheme in which parents have to deposit the amount regularly.
The government provides high interest rates on this account which continues to grow over time. So avoid this rumor spread on social media and rely only on official information.
Sukanya Samriddhi Yojana vs other savings schemes
| Speciality | Sukanya Samriddhi Yojana (SSY) | Public Provident Fund (PPF) | Fixed Deposit (FD) |
| Interest rate | 8.2% | 7.1% | 6-7% |
| Tax exemption | Yes | Yes | In some cases |
| hazard | No | No | No |
| Maturity period | 21 years | 15 years | Flexible |
Required documents
- Birth certificate of daughter
- Parent or guardian identity card
- Address proof
- Passport Size Photo
Important things
- Only after opening the SSY account can invest only for 15 years.
- Interest continues till the account is matured, even if the investment stops.
- Partial withdrawal for education or marriage is possible when the daughter is 18 years old.
Disclaimer:
The claims spread on social media are “₹ 12,000 will be directly in account” on applying online in SSY scheme “is completely wrong. This is a savings based scheme in which you have to invest regularly. Please do not trust any rumor and get information from official sources.
Sukanya Samriddhi Yojana is a great way to secure the future of daughters. If you want financial security for your daughter, then definitely take advantage of this scheme.
