BEST FOR

Parents saving for their daughter’s future

  • Invest in her dreams today

  • Tax - Free Savings for girl child

  • Easy Account opening

  • High returns. Her bright future.

Important Things to Know

  • No Account Opening Charges 

    SSY account can be opened with no charges at ICICI Bank branches

  • No Monthly Deposit Requirement

    Deposit at any time in the year; maintain an annual minimum of ₹250

  • Maximum Deposit Limit: ₹1.5 lakh

    You cannot deposit more than ₹1.5 lakh in a financial year

  • Account Valid for One Girl Only

    Only one SSY account can be opened per girl child

  • Early Withdrawal Only After 18

    Up to 50% withdrawal allowed for education or marriage

  • Premature Closure Conditions Apply

    Permitted only for marriage, death, or financial hardship with proof

About Sukanya Samriddhi Yojana

Government-Backed Savings for the Girl Child

Sukanya Samriddhi Yojana (SSY) is a long-term savings scheme introduced under the “Beti Bachao, Beti Padhao” initiative. It offers attractive interest rates (currently 8.2% per annum (p.a.)*),  triple tax exemption benefits under Section 80C and is backed by the Government of India. ICICI Bank is an authorised institution where you can open an SSY account.

Eligibility Criteria to Open an SSY Account

The account can be opened in the name of a girl child by a parent or legal guardian. The girl must be below 10 years of age at the time of opening. A maximum of two SSY accounts can be opened per family, one for each girl child. In the case of twins or triplets, exceptions apply.

Simple and Offline Application Process

To open an SSY account, visit any ICICI Bank branch with the required documents – girl child’s birth certificate, proof of identity and address of the parent or guardian and the SSY application form. A minimum deposit of ₹250 is required to start the account. The passbook will be issued after successful account creation.

Key Requirements and Contribution Rules

Deposits must be made for 15 years from the date of opening, but the account matures after 21 years. You can contribute any amount from ₹250 to ₹1.5 lakh per financial year. There are no penalties for not depositing monthly, as long as the annual minimum is met. Partial withdrawal (up to 50%) is allowed after the girl turns 18 for education or marriage purposes.

FAQs

What is Sukanya Samriddhi Yojana and who can open it?

SSY is a government savings scheme for the girl child. A parent or legal guardian can open it for a girl below 10 years of age. A maximum of two accounts is allowed per family.

How much can I invest in an SSY account?

You can invest between ₹250 and ₹1.5 lakh per financial year. Deposits can be made in one lump sum or multiple instalments, with no monthly obligation.

What are the tax benefits of SSY?

SSY offers triple tax exemption: deposits qualify under Section 80C, the interest earned is tax-free, and the maturity amount is also exempt from tax.

Can the account be closed before 21 years?

Yes, but only in specific cases-on the girl’s marriage after 18, her death, or extreme financial hardship. Proper documentation must be submitted to process premature closure.

Where can I open an SSY account?

You can open an SSY account at any ICICI Bank branch by submitting the required documents and a minimum deposit of ₹250.

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