Sukanya Samriddhi Yojana (SSY) is a savings scheme launched by the Government of India aimed at securing the future of the girl child by encouraging parents to save for her education and marriage expenses.

The current interest rate for Sukanya Samriddhi Yojana is 8.20% per annum (as of 2024), and it is compounded annually.

The maximum deposit limit for Sukanya Samriddhi Yojana is ₹1.5 lakh per financial year.

The maturity period of Sukanya Samriddhi Yojana is 21 years from the date of account opening or until the girl child gets married after the age of 18.

Yes, premature withdrawal up to 50% of the balance can be made for the girl's higher education after she reaches the age of 18.

The SSY account can be opened by parents or legal guardians of a girl child, who is a resident of India, and below the age of 10.

A family can open up to two accounts for two girl children. In the case of twins or triplets, three accounts can be opened.

If the minimum annual deposit of ₹250 is not made, the account will become inactive. However, it can be revived by paying a penalty of ₹50 per year along with the minimum deposit for that year.

Yes, investments in Sukanya Samriddhi Yojana are eligible for tax benefits under Section 80C of the Income Tax Act. The interest earned and the maturity amount are also tax-free.

No, only Indian residents are eligible to open an SSY account. If the account holder becomes an NRI after opening the account, the account will be closed, and only the principal amount will be returned.