Sukanya Samriddhi Yojana: Eligibility, Investment, and Benefits Explained

Sukanya Samriddhi Yojana: A Comprehensive Guide to Eligibility, Investment, and Benefits

In today's ever-changing world, ensuring the financial security of our loved ones has become a top priority. The Sukanya Samriddhi Yojana is a government-backed savings scheme designed to provide a secure future for the girl child. This blog aims to provide a comprehensive understanding of the scheme, including eligibility criteria, investment options, and the benefits it offers. Whether you're a parent, guardian, or simply interested in financial planning, this guide will help you navigate the Sukanya Samriddhi Yojana with ease.

Eligibility for Sukanya Samriddhi Yojana

To participate in the Sukanya Samriddhi Yojana, certain eligibility criteria must be met. The scheme is exclusively available for the benefit of the girl child and has specific age requirements. The minimum age for Sukanya Samriddhi Yojana is 10 years, and the maximum age for Sukanya Samriddhi Yojana is 10 years and 1 month. This ensures that parents or guardians can start planning for their daughter's future at an early stage.

Calculate Your Earnings: Use our Online salary calculator to estimate your take-home pay accurately. Get financial clarity now!

How to Invest in Sukanya Samriddhi Yojana

Investing in the Sukanya Samriddhi Yojana is a straightforward process. The first step is to visit a designated bank or post office and fill out the necessary application form. Along with the form, you will need to provide essential documents such as the birth certificate of the girl child, proof of identity and residence of the parent or guardian, and a photograph of the child. Once the account is opened, you can start making contributions. The minimum deposit amount is Rs. 250, and the maximum is Rs. 1.5 lakh per financial year. These contributions can be made through cash, cheque, demand draft, or online transfer. It is important to note that the contributions made to the Sukanya Samriddhi Yojana are eligible for tax deductions under Section 80C of the Income Tax Act.

Plan with Precision: Plan your financial future better by delving into the income tax slabs 2023-24 and strategizing your investments and expenses.

Details Required for the Sukanya Samriddhi Yojana Application Form

  1. Name of the girl child who is the primary account holder.
  2. Name of parent or the legal guardian opening the account on behalf of the girl child.
  3. The initial deposit amount that is required for opening the Sukanya Samriddhi Yojana
  4. Cheque or the DD number and date that will be used for an initial deposit
  5. Date of birth of girl child
  6. Birth certificate details of the girl child or the primary account holder
  7. ID details of the parent or guardian opening the Sukanya Samriddhi Yojana on behalf of the girl child. ID details can include driving license, Aadhaar card, PAN card, etc.
  8. Permanent address
  9. A medical certificate, in case multiple children are born under one order of birth.
  10. Any other documents that are requested by the bank or post office.

Plan Your Payments: Use our EMI calculator to plan your repayments and take control of your financial journey.

Benefits of Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana offers a range of benefits that make it an attractive investment option for parents and guardians.

  1. Substantial Interest Rate: Firstly, the scheme provides a higher interest rate compared to other savings schemes. As of August 2023, the interest rate stands at 7.6% per annum, compounded annually. This ensures that your investment grows steadily over time.
  2. Tax Benefits: Additionally, the Sukanya Samriddhi Yojana offers tax benefits. The contributions made to the scheme are eligible for tax deductions under Section 80C, and the interest earned is tax-free. This makes it a tax-efficient investment avenue for parents looking to secure their daughter's future.
  3. Flexibility of Investment:  Furthermore, the scheme provides flexibility in terms of contributions. Parents or guardians can choose to contribute any amount between the minimum and maximum limits, depending on their financial capabilities. This allows for personalized financial planning and ensures that the investment aligns with your goals.
  4. Maturity Benefit: One of the key advantages of the Sukanya Samriddhi Yojana is its long-term nature. The account matures after 21 years from the date of opening or when the girl child gets married, whichever is earlier. At maturity, the accumulated amount, including interest, is paid out to the account holder. This provides a substantial corpus that can be utilized for higher education, marriage expenses, or any other financial requirements.

Calculate NPS Contributions: Curious about your pension fund growth? Use our NPS calculator to project your retirement savings.


The Sukanya Samriddhi Yojana is a valuable savings scheme that offers financial security for the girl child. By understanding the eligibility criteria, investment process, and benefits of the scheme, parents and guardians can make informed decisions to secure their daughter's future. It is important to consult with a financial advisor to assess your specific financial goals and determine the suitability of the Sukanya Samriddhi Yojana in your overall financial plan. Remember, responsible financial decision-making is crucial. It is advisable to read the related product brochures, terms and conditions, and consult with professionals before making any investment decisions. By taking advantage of the Sukanya Samriddhi Yojana, you can pave the way for a brighter and more secure future for your beloved daughter.


The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale.
Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

Suggested Plans

Bharti AXA Life Guaranteed Wealth Pro

  • A non-linked, non-participating individual savings life insurance plan
  • Flexibility to choose the payout structure
  • Multiple income options
  • Option to receive tax free income beginning from the second policy year itself
  • Option to get lifelong income along with life cover till 100 years of age

Bharti AXA Life Shining Stars

  • Non-linked, non-participating limited pay endowment Life Insurance plan
  • Designed to take care of the financial needs of your child.
  • Flexibility to opt between 2 Maturity Payout Options
  • Flexibility in Policy Term/Premium Payment Terms
  • A great short-term investment option for a child insurance policy.

Bharti AXA Life Super Series

  • A non-linked non-participating individual life insurance savings plan
  • Range of investment duration and returns
  • Guaranteed money back benefits (provided policy is in force and all due premiums have been paid)
  • Income tax benefits (as prevailing tax laws in India that are subject to changes)