What is Sukanya Smridhi Yojna: Who is eligible, How to apply.. All you need to know

New Delhi: Sukanya Smridhi Yojna is one of the National Savings Schemes offered by the Government of India. The small deposit scheme is especially meant for the girl child. The scheme offers the highest rate of interest among all small savings schemes backed by the government of India. The rate of the scheme is 8.0% which is compounded anually.  The scheme was launched in 2015 under the Government of India’s ‘Beti Padhao Beti Bacho’. The scheme aims to promote the education of girl children. The Sukanya Smridhi Yojna can be opened through Post Offices and all Public and Private Sector banks.

What is Sukanya Smridhi Yojna? 

It is a scheme run by the Ministry of Women and Child Welfare and the Government of India under the Government’s ‘Beti Padhao Beti Bachao’

Main Targets of this Scheme are: 

Protection and survival of girls

Maximum number of girls participate in the areas of education

Ensure reduction in the practice of determination of sex and gender discrimination against children.

Following Banks that offer SSY Scheme:

Union Bank of India

State Bank of India

Punjab National Bank

Oriental Bank of Commerce

Indian Bank

ICICI Bank

Canara Bank

Corporation Bank

Axis Bank

Allahabad Bank

Syndicate Bank

Vijaya Bank

Punjab & Sind Bank

IDBI bank

Bank of Maharashtra

Central Bank of India

Bank of Baroda

Andhra Bank

Eligibility of Sukanya Smriti Yojna

Parents can open an SSY account until the girl child reaches 10

The child must be a resident of India

In a family account can be open for 2 girls

Third account can be opened in case of twin girls

Documents require to open the Account

Account Opening Form

Birth Certificate of the Girl Child

Address Proof of the Parent

Medical Certificate of the child

Benefits of the Scheme

Educational expenses covered

Tax benefits

Attractive Interest rates

Affordable Payments

Tax Exempt interest

Convenient Transfer

Guaranteed Returns

Some important details of the SSY Scheme

Interest rate: 8.00%

Investment Amount: Minimum rs 250, Maximum 1.5 Lakh per annum

Maturity Amount: Depends on invested amount

Maturity Period: 21 years, or till the girl is married.

If you are a parent or a guardian of a girl child who is less than 10 years then you must enroll for the scheme to secure your child’s future and her education.