Sukanya Samriddhi Yojana (SSY) is a savings scheme started by the Government of India. It is part of the Beti Bachao, Beti Padhao program. The plan helps parents save money for their daughter’s education and marriage.
Parents can open this account from the girl’s birth until she turns 10 years old. Only one account is allowed for each daughter, and a family can open it for up to two daughters. The account stays active for 21 years or until the girl gets married after 18.
How ₹104 Per Day Grows into ₹17.5 Lakh
Saving just ₹104 every day means ₹3,120 per month or ₹37,440 per year. If parents keep saving this amount for 15 years, the money will continue to grow with interest until maturity.
At the current 8.2% interest rate, the savings can reach nearly ₹17.5 lakh after 21 years. This amount can help with higher education or marriage expenses.
| Daily Saving | Monthly Saving | Yearly Saving | Total Value After 21 Years* |
| ₹104 | ₹3,120 | ₹37,440 | ₹17.5 lakh (approx.) |
*Based on 8.2% annual interest.
Who Can Open the Account
- The girl must be below 10 years of age.
- She must be an Indian resident.
- Parents or legal guardians can open the account.
- Minimum yearly deposit: ₹250.
- Maximum yearly deposit: ₹1.5 lakh.
- Account can be opened at post offices or selected bank branches.
Main Features and Benefits
- High Interest: Better returns than fixed deposits.
- Triple Tax Benefit: Deposits, interest, and maturity are tax-free.
- Government-Backed: Safe and risk-free.
- Flexible Payments: Save between ₹250 and ₹1.5 lakh per year.
- Builds Discipline: Encourages long-term savings.
Withdrawal Rules
- Deposit Period: 15 years. After that, no deposit needed, but interest continues.
- Partial Withdrawal: Allowed up to 50% after the girl turns 18, for education or marriage.
- Premature Closure: Only for emergencies or death of the account holder.
Tax Benefits
SSY gives one of the best tax benefits. Parents can claim up to ₹1.5 lakh under Section 80C every year. The interest and final maturity amount are also fully tax-free.
This makes SSY better than fixed deposits where interest is taxable.
Comparison with Other Options
- Fixed Deposits: Safe but low returns, taxable.
- Public Provident Fund (PPF): Good but not focused on children’s needs.
- Mutual Funds: Higher returns possible but risky.
- SSY: Balanced option with safety, good returns, and tax benefits.
Mistakes Parents Should Avoid
- Not keeping up with minimum deposits of ₹250.
- Depositing beyond 15 years (not needed).
- Opening the account late, which reduces growth.
Why Early Planning is Best
Starting early gives more time for savings to grow. Parents who open the account soon after birth can enjoy full 21 years of interest. Even small daily savings, like ₹104, grow into a big fund with time.
Conclusion
Sukanya Samriddhi Yojana is one of the best ways to secure your daughter’s future. With just ₹104 per day, parents can save nearly ₹17.5 lakh by maturity. The scheme is safe, tax-free, and backed by the government.
By starting early and saving regularly, parents can give their daughters a strong financial base for education or marriage.
Disclaimer: This article is for learning purposes only. It is not financial advice. Rules, interest rates, and benefits may change as per government updates. Always check details and consult a financial advisor before investing.