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Sreekanth Reddy:

Sreekanth is the Man behind ReLakhs.com. He is an Independent Certified Financial Planner (CFP), engaged in blogging & property consultancy for the last 11 years through his firm ReLakhs Financial Services . He is not associated with any Financial product / service provider. The main aim of his blog is to "help investors take informed financial decisions." "Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion."

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  • If I pay lum sum 25000 in a particular year, the next year can i deposit more or less means can i deposit greater than or less than in the next financial year

    • Dear Shaik,
      Yes, you can..

      The minimum annual contribution to the Sukanya Samriddhi Account is Rs. 250 and the maximum contribution is Rs. 1.5 lakh in a financial year.

  • This scheme can also be viewed as an initiative on part of the Government, to increase the domestic savings percentage which had reduced from 38% of the GDP in 2008 to 30% in 2013. This scheme is expected to encourage parents/guardians to save for their girl child’s education and future

  • My Self chetan i have one daughter and i need to pay quarterly or yearly how much amount has to pay.

    i want to know how much amt l had to pay and what is the interest rate

    • Dear Chetananand,
      You can deposit monthly, quarterly or yearly as per your choice. The minimum amount you have to deposit is Rs 250 pa and the maximum amount is Rs 1.5 lakh p.a.

  • Hi
    Who can withdraw the money any time if both the account holder and the guardian is not available

  • if i withdraw after 14 years would i get maturity amount benefit.? please suggest…

  • My 1st daughter was born on 15.03.2013 and i want to open SSA in P&N Bank which was operated by my wife she was a house wife,if i attached my name as a 2nd account holder will i be able for Tax benefit u/s 80C.
    My second part was if in same bank after some time again,I open SSA for my next child than also can i get tax benefit collectively for both of my daughter collective amounts.
    waiting for your reply pls.

  • Hi,
    The information provided is very useful. Thanks.
    I have two questions.
    1) If I invest monthly or Annually, how will I be benefited compared to Interest amount calculated ?
    2) If I pay 2,500 inr/ monthly as a Standing Instruction in SBI, annually it would be around 30,000. Say, by year end I had some surplus amount 20,000. Can i deposit this amount in SSA as well and avail the benifits ?

    • Dear Sharath,
      If you invest say lump sum amount in the beginning of the year, the interest is payable for the entire year.
      This is not the case with monthly deposits. It is calculated monthly on the lowest balance between the end of the 5th day and last day of month,
      2 – Yes, you may do so.

  • I already opened SSA account in my daughter name and i am investing 1.5 Lakh per financial year .Now i would like to knwow who can claim this ( Father or Mother )while filing income tax. How do Income Tax Department verify these.

    I am an NRI and i want to include this investment in my income tax filing to avoid tax against the income earn from India.
    My wife is housewife and she doesnt have to file income tax.

    Baby

  • Dear Sir, My daughter’s D.O.B. was 07/04/2003. I was ppf account on her name from 14/02/2005. i want to open SSA account on her name. Is that possible? And one more thing , Is it possible to migrate PPF account in SSA account. I am waiting for your kind reply.

  • Dear Sir,
    My daughter’s DOB is 07/04/2003. I have PPF account in state bank of india from last 5 years. and i want to migrate my ppf account in SSA. Is that possible? I want to open SSA account for my daughter how and if any other investment government scheme are available? Please guide me for investment.

  • Dear Sir,

    My daughter is born on th April 2006 Pune, confirm if the SSA scheme applicable for her, if yes confirm the last date to submitt the scheme form in the bank.
    If not, kindly help any other government scheme feasible me to apply the same for future prospective.

    Thanks

  • Dear Sir,

    if i deposite 1000 every year then how much i will earn after 21 years, kindly send calculation in excel format

    Thanking you

    Reply

  • Dear Sir,

    I have opened Sukanya Samridhi Account for my girl child on 11/01/2017. I am planning to deposit INR 1,50,000 annually.
    I have made 1st deposit of INR 1,50,000 on 11/01/2017.

    Now my question is ….
    When should I deposit my 2nd installment ?
    case – 1 : at the start of financial year 2017-18 i.e on 01/04/2017
    case – 2 : at the opening date of next year i.e 11/01/2018
    case – 3 : anywhere in the middle of financial year 2017-18 i.e, say 01/08/2017

    which of the above case would be idle and will benefit me maximum….

    Thanks in advance
    Dinesh Ramakrishna
    9730490933

    • Dear Dinesh,
      Investing every month before 10th (or) in case of lump sum investment before 10th of April every year, you can get slightly better returns to a certain extent.

      • Dear Sreekanth,

        I wish to open next week for my daughter, kindly clarify the following
        1. Is possible to open Post office and SBI (two account for one name)?
        2. I wish to deposit lump sump now, is there is possible to change the mode of payment either lump sump/monthly?
        3. what is the maximum and minimum amount per year deposit?

  • Hi Sir,

    My daughter 2 years old. If i start deposit 1000 per month, how much child will be getting while reaching 18th years. Calculator link which you mentioned below doesn’t work. Please provide alternate link or can you calculate and let me know.

    Thank you.

  • I am 66 year old homemaker drawing family pension and earning rental income and interest on deposits. Can I open SSA account for my grand daughter and take income tax benefit upto 1.5 Lacs as a legal guardian ? My son is also working and paying income tax and taking exemption under section 80C on other investments like insurance.

  • Hi Concerned

    While I have read all details provided by you I am still little confused & would request you to please help answer my query as below:

    If I have opened SSA for my daughter in year 2015 who was 10 years old at the time of opening account; her account will get mature when she is 21 years old (i.e 11 years from 2015) or her account is matured after 21 years from the date of opening of account

    Regards

    • Dear Lalit,
      The maturity of the account is 21 years from the date of opening of account or if the girl gets married before completion of such 21 years (whichever is earlier).

  • sir if girl entered in 10 years on oct2016, will she eligible for this scheme? Kindly give clear details on that attain age. I read SSA scheme but i want to know above mentioned age(Now entered in 10 years not completed).

    • Dear parveen ..SA can be opened in the name of a girl child from the birth of the girl child till she attains the age of ten years. The scheme would mature on completion of 21 years from the date of opening of the account, with an option of keeping the account till marriage. So, the maturity of the account is 21 years from the date of opening of account or if the girl gets married before completion of such 21 years (whichever is earlier).

  • I have 2 daughter s of 11 yrs 9yrs of age.i have taken sukanya plan from post office now I want to know tht can I get my money backwhen my daughter will
    iattain 21 yrs of age

  • Is only girl child allow to withdraw the scheme amount ?? in case parents wants to withdraw at pre-maturity/maturity Will parents allowed to withdraw amt?

  • hello,
    I want to invest in this scheme for my brother’s daughter. can i show this as my investment? will it benefit me as tax saving under section 80c?

  • Respected sreekanth reddy garu
    My name is P.Nanaji I have two girl child 1st girl P.Surekha Dob 09/07/2004(12yrs)
    2nd girl P.Amrutha varshini Dob 03/01/2008(9yrs) this girl(2nd) already open SSA But 1st girl child not open SSA because her age 12yers sir is there any opportunity to open SSA for 1sd girl child plzzz reply to me sir thank you

    • hi sir,

      we want to join in this scheme, but my child birth date is 22.01.2007. how we can follow this and please explain me .

      how much we can deposit and till how many years. we are in UAE .

      • Dear Rajeshwari ..In case if you are NRIs then you may not be eligible to invest in this scheme.
        Girl’s age should be below 10 years and the contribution of minimum Rs 1,000 can be made every year for 14 years (from the date of account opening).

  • Dear Sir,

    This is kishore from Guntur dist. My Elder sister having two sisters. One girl born on 2003 & another girl born on 2005. For this girls having chance on this scheme. Please give me the clarity sir.

  • Sir,

    Can I transfer the SSA scheme amount directly from on line by my saving account( same Post Office) to SSA shceme of my daughter in post office.

    please suggest me the process what I have to do ?

  • sir my daughter is born in village at that time have not birth certificate. present 9 years old studied 3rd class.so how to open ssa?

    • Dear Srinu,
      In absence of the Birth Certificate the following documents can be submitted :

      Certificate of Date of Birth from the School Headmaster; or,
      Certificate of Date of Birth from the Hospital where the Girl Child was born.

  • Sir, Iwant to depisit 1 lakh per year in ssy. But in irregular intervals. One time 1000,another time 60,00; And payment maynot be every month. But in total 1lakh.How does is effect in getting interest and penalty ckass?

    • Dear Rajeshwari,
      Under SSA, the interest is compounded on yearly basis. The interest amount is calculated for the calendar month on the lowest balance in an Account on the deposits made between the close of the tenth day and the end of the month. So, it is now clear that no interest is paid on deposits made after 10th of the month for that specific month.

      No penalty is charged if you invest atleast Rs 1000 per financial year.
      Read:
      SSA new rules 2016.
      Latest interest rates – Small savings schemes.

  • Sir,
    above information very helpful though I want to know whether TDS on interest would be deducted or not on maturity of SSA?

  • Hi Sreekanth, thanks for great information! Our daughter was born in the US and is therefore US citizen. We are however now in India and are Indian citizens. Is our daughter eligible for this scheme since we would be the one to invest for her?

  • hi sir, i had opened sukanya samriddhi account in post office on 20-03-2015 and i had invested 1,50,000, but i had not received interest for the year 2014-15. please help me sir,

    kishore

  • I have One Message from My Friend is a – State Bank of India have a Sukanya Yojana f0r 01 to 10 years Girls, Every year we put the 1000/- up to continues 14 years means 14×1000=14000.00 after girl age of 21, we will receive 6,00,000.00??

    Kindly seggest the same

  • My niece age is 9 years. We want to open SSA. If we open an account under this scheme, is it necessary to deposit full 14 yeras. Then her age will be 23 yers. Can i withdraw the amount at 21 years or shall have to wait for more?

    • Dear Subhransu,
      The minimum deposit of Rs 1,000 has to be deposited till the time the account is active (for 14 years). The account can be operated till 21 years from the date of opening of account.
      Partial withdrawal of 50% can be made when girl child attains 18 years of age for pursuing higher education.
      Kindly read: Latest amendments to SSA scheme.

  • I have One Message from My Friend is a – State Bank of India have a Sukanya Yojana f0r 01 to 10 years Girls, Every year we put the 1000/- up to continues 14 years means 14×1000=14000.00 after girl age of 21, we will receive 6,00,000.00??

    Kindly seggest the same

  • D/Sir , I wants to open ssa for my two girl childs (09 yrs and 12 yrs.) with one time payment of 1 lack each.is it possible?if yes then what will be the rate of interest and can i get income tax exemption under 80 c for fy 2016-17

    • Dear Alok,
      The applicable interest rate for 1st Quarter of 2016-17 is 8.6%.
      One can deposit maximum Rs 1.5 Lakh per one SSA account. So, you can deposit Rs 3 Lakh but you can claim up to Rs 1.5 Lakh as tax deduction under section 80c.

  • Please tell me that if the investment is made for two Girl child. will the income tax rebate be available under income tax Act u/s 80C for two girl child.

  • Hello Mr Sreekanth Reddy,

    I have a 1 yr 5 months old daughter. I would like to go for some investments like SSA, kindly suggest me how soon can I open this account? And where do I get this done?

  • Dear Concern,

    Last year i opened an sukanya account & at that time they told me the interest rate around 9.1% anually. But i got around 3.3% of interest.I went to post office to know the reason they didn’t replied any satisfactory answer. So, My concern is that is the interest rate i got is right or there is some issue in it. And if yes than whom should i contact for it???

      • I am agree with your points but my concern is that why I got only 3% as an interest for the fy 2014-2015. To whom should I contact to know that why I got so less interedt rate.

  • Dear sir,
    how much amount initially required to open a SSA in BANK………..
    kindly share the information as early as possible

  • I am staying outside of india, I have opened SSY account of my daugher, can i transfer money through exchange office to SSY account?

  • Initially if account opened with 5000 per month & later can it be increased year on year basis?

  • Hi,
    i read read in couple of articles that, we have to do either cash/dd/cheque for sukanya samruddi account.
    Can we transfer amount online to SSY account from any bank?

  • My daughter’s age 1 years right now. If I’m investing 6000 per year on monthly basis what is maturity amount.

    Please send me detail.

  • My daughter age is 9 years old I am invest 10oo p.m. How many years can I pay and how much I get money maturity of time Pl.send details.

  • Plesae give me brief details for “SSA”
    My Daughter age 03 year Old:
    i am ready to SSA plan for monthly: 1000/-
    Yearly:12,000
    after (3+17):20 years how much of amount we are received form SSA

  • Plesae give me brief details for “SSA”
    My Daughter age 06 year Old:
    i am ready to SSA plan for monthly: 1000/-
    Yesrly:12,000
    after (6+14):20 years how much of amount we are received form SSA

  • SSA monthly cash deposit which date I should pay before every month 5th tel me

  • Hi , Gud Morning , i blessed with a baby girl in the month of Oct 2015 , can we start deposit in this Scheme plz clarify me and if a deposit Rs 1 Lack per year wat is the maturity amount at the age of 21 plz guide me.,

  • Dear Mr. Sreekanth Reddy,

    I have two daughter fast daughter age is 3 years and 2nd daughter age is 2 years, SSA it is eligible to open or no.?
    How i can open SSA in Telangana. kindly proved me details

    Thank you

  • Out of love Grandmother (who gets pension, saves 2000 INR per year) woud like to open a SSA for her granddaughter who is 8 years old (A foreign citizen-foreign passport holder with PIO–person of indian origin card). Is it possible or correct to do so?

  • Dear Sir

    Plz sir guide me i credit every month rs1000. so how much amount i recive at the time of maturity of sukanya plan.

  • Hello Shrikant,
    I have opened a SSA account for my daughter in June 2015 but since last 3-4 months I have not deposited money as I have lost the pass book due to shifting to another house.
    Shreekant let me know what to do now?

    • Dear Shaheen,
      It is ok even if you do not deposit every month, it is not mandatory. The minimum deposit is Rs 1,000 per year.
      Suggest you to kindly approach your post office / bank branch and apply for a new passbook.

  • Dear Sreekanth,
    in case there is a death of a person who is responsible for the installments to be paid of an account holder under the SSS yojana and there’s a very little expectation from anybody to pay for same
    then will the scheme end incomplete in that situation
    can the account holder withdraw the balance
    there’s no any undertaking on governments side

  • Dear Sir/ Mam

    I herein would like to state that I had opened an saving account date 18/3/15 (A/c no- 331000*** Bhawna Tomar) of my daughter in post office in Mullanpur, Garibdas, Punjab. Now as I have been transfered to Bhandoli, Palwal, Haryana,I applied to transfer the same account to Bhandoli Palwal from Mullanpur on 4/8/2015 but till date it has not been done. I have taken up the matter with all officials who are in cc of this email (Trailing mails are attached), but unfortunately nothing has been done, I herein in request you to please look into the matter and sought out at earliest. Also please take strict action against all culprit officials who are involved in the act.

    Thanks & Regards
    Arun Kumar
    99911515**

    • Dear Arun,
      Kindly do not share your bank account details in public forums. Do note that this blog is for information purposes only and we cannot help you in resolving your query. You may transfer the account to bank. That would be a better option.

  • dear sir my daughter birth on 01.01.2006 so please confirm this birthdate eligible sukanya yojna.i m openable my daughter account.reply me fast i m in bank.

  • HI
    srikanth

    my name is sudhakar and this blog gives very useful info on SSA completely , i like the way u explains ,if u dont mind could u pls explain me about mutual fund investments

  • Hi,

    My husband has opened a SSA for our daughter (3 years old). Can I also open an account for her ??

  • Hello Sreekanth,

    i have a child 5 year. when i invest 1000 rs. once in a year. after the maturity period then how amount will be received.

    hopes you got it my question.

  • Good day sir .
    My name is Naresh Arora , i have a quick question , my daughter she is 10 years ,& we had open an SSA a/ c on 10/04/2015 & we are planning to deposit 10000 rs every month now she is 10.can you pls help me when she will be 24 how much she will get because we have to pay till 14 years according to SSA.can you pls send me the chart so i can see.
    It would be kindly request if you do this needful.
    Thanks & best regards
    Naresh arora.

  • My daughter age 12 years now. Can you please suggest any better government Investment scheme like sukanya samriddhi Yojana?

  • sir, madam
    maine dt 24 march 2015 ko 1000 Rs bharke sukanya aacount kulvaya
    par passbook pe entry 31 march 2015 ki hai aur mujhe passbook 7 aprail 2015 ko mila hai

    lekin abhi mai har sal 3000 rs bharna chahta hu. to iskeliye muze kya karna hoga iski jankari jald aap muze email pe de.
    thank u !

  • I have one daughter age 7 year. I am opening account in SBI Rs. 1000/- per month after terms how much Rs. receive.

  • sir my nice is one yr old will I open a SSA or any other please tell me sir on my email

  • Hi Sreekanth Reddy,
    I have 2 questions regarding the SSA.
    1. We are currently in USA, but my kids(2 daughters) were born in India. Am I eligible to open the SSA account without physically present in India? If yes, please let us know the procedure.
    2. As the SSA matures after 21 years, will we be able to get the amount IF WE BECOME USA CITIZENS BY THEN?

    Thanks
    Vijay

  • Dear Sir,

    My daughter’s age 1.5 years right now. If I’m investing 6000 per year on monthly basis what is maturity amount.

    Please send me detail.

    Thanks Regard
    Moreshwar Patil
    98909887**

  • Dear Sree. My daughter DOB on 4th march 2005. But when i approached postoffice, they declined for account opening. please suggest. Is the age limit crossed? or still Im eligible for SSY account?

    Thanks, Prabu

  • Hi sreekanthji,

    I have enrolled my 5-year-old daughter for Sukanya samrudhi a/c as D/O…..with my wife name&given my wife PAN# in parent details and I am paying 1,000/month. Can i show this as my investment to incometax, because my wife is housewife and I am the one doing job.

    • Dear Ramdev..I believe that only the depositor can claim the tax benefits. kindly check with your banker/postoffice if you can change the depositor’s name?

  • Hi Sreekanth sir,

    For SSA, if i invest 10,000/month i.e., 1,20,000/- for an year(Apr 2015 to Mar 2016), Does this total 1,20,000/- can be shown as investment proof for tax exemption?

  • I have two daughters
    Can u suggest me best sip who gives me more returns
    I have invest maximum 5000 thousand per month

  • DEAR SIR

    MAINE APNE DAUGHTER KA SSA OPEN KIYA HAI OP. DATE : 07/11/2015. MAIN MONTHELY Rs. 4000/- SSA ME DEPOSIT KARTU HU.

    SO PLEASE AAP MUJE MONTHELY INTEREST CALCULATE KAR KE DE SKTE HAI ?
    OR MATURITY VALU KITNE HO SAKTE HAI?

  • Sir mujhe a bataye ki me apni beti ka ssukanya yojana post office me khole ya bank me …please sir

  • I have 2 daughters, the scheme in ssa is 14 year, I can complete in 8 year s can is possible, if possible means that same interest we get in 21 year pls tell me sir

    • Dear Shafiuddin,
      You can deposit as much as you want. But you need to deposit minium Rs 1000 per year after say 8 years also, to keep the account in active status.

  • Dear Sir sukhanya samruddi scheme is 14 years, can I pay total amount in 5 r 6 years, it is possible , I pay fast , I Pay double it is possible , I have already 2 account in SSA post office

  • Hi

    My daughter was born in usa and now staying in india . She is a PIO holder.Is my daughter eligible for Sukanya Samriddhi?

  • Sir, I want to know that if I deposit 1 thousands rupees per year for my girl up to when she become 20 yers old.how much ammount I will get?

  • sir i have 2 daughters one 1
    1 years old amd 8 years old plz tell me the scheme in details if i invest mont hly one thouasnd to each daughters

  • HI Dear,
    I have invested 12000 per year incase i dont have if money next year that time what can i do please suggest me
    thnks RAO

  • Dear Sreekanth,

    Nice article. In fact I was looking for the interest calculation of this scheme. I believed that investing on monthly basis (between 1st and 5th day of each month) would give best returns and so I am operating my PPF and SSA in that way.
    But seeing this article, it seems Yearly contribution yields better returns. So, 2 questions:
    1. On which DD/MM of each year should I invest on an Yearly basis?
    2. Does this benefit stand true for PPF also? If Yes, I will switch to Yearly investment.

    Thanks in advance
    Ganesh

  • Hi, I have new born baby about 15 days old, I want to create a Marriage courses of Rs.35,00,000/- in 15 Years, can you suggest me which is the best method to opt for corpus creation.

  • Dear srekanth appreciating your work …. my daughter is 4 yrs old , i want to open a SSA on her name but unfortunately there is printer problem in the branch of SBI … so they are unable to provide me a SSA form …. the forms i found online looked like for post office use only as all terms related to post offices were written on those forms …. i request you to kindly provide me a valid form which can be used in SBI

  • Mr.Srikanth reddy,
    I do appreciate the way you have explained.It helped me a lot.

  • I have already opened SSA account for my daughter last year march in post office.
    Can i shift SSA account to SBI bank ? if yes what is the procedure and documents required ?
    Can i deposit amount online for SSA ?

  • Dear Sir,
    My daugter D.O.B is 1809-2004, Can i opened sukanya Samridhi A/c. for my
    girl child

  • Sir can u suggest me about other companies insurance plans if I ask.
    Like I want to know about tata aig plans.

  • Sir,
    My doubt is after 21 years what ever lump sum amount i will be getting do i need to pay tax for that ? Please reply to this
    regards

  • Good morning sir
    mera name muskan he me agar aap mujhe iski jankari de sake to please bata dejiyega
    meri didi ki beti he 13 june 2015 ko hui he uske liye koi or suvidha mil sakti he kam bajat ki uske papa nahi he agar he to mujhe please bata dijiyega
    Thank you

  • Meri bhatiji 9years and5month ki hai agar main 36000/-per year jama kare to hamko kab tak jama karna hoga aur hamko matiurii kab aur kitana milaga jara vistaar se bata dijiye

    • Aap ko 14 Year jama karwane honge aur 21 Saal k bade mein lump-sum amount hoga 1893783
      Byaz ki dar har saal sarkar decide kargi to exact calculation karna impossible hoga .
      abhi yeh calculation 9.1 % k hisab se kari gai hai waise iss saal 9.2 % byaz taye hai

  • Sir I’m single parent, didn’t get married for certain reasons. My daughter is born on October 9th 2015. Can I open the account for her ? I’m not sure how to get dob without father name. Plz guide

    • October 9th 2015 ? are you serious ? today is 25 sept 2015
      and even for single parent their must a biological father you can mention her name
      and third blog is to discuses financial planing and related topic not to tell peoples how to get DOB for single parent

      Thanks

  • Sir humare paas bachchon ki date of birth certificates nahi hai meri badi bachchi 10 year ki aur chhoti 9 years ki hai to abhi khata khulwane hetu kya karna hoga
    With Regards
    Chandrashekhar Baghel

    • Khata khulwane k liye DOB ka certificate chhiye hoga , aap certificate local authorities se banwa sakte hai
      ya age proof k liye koi aur certificate hai to aap nizdiki post office se sampark kar lijiye

  • Hi
    We live in Canada.My daughter is a Indian citizen now.She is on permanent residence status.but she will become a Canadian citizen After 3years.she is now 8years old now.Is my daughter eligible for Sukanya Samriddhi?

    • Its not fixed you may deposit as much you want according to your convenience
      The upper limit is 1.5 Lakh Per year.

  • Dear Sir,

    Our daughter DOB 11.09.2003 egible open the account.

    please confirm me as soon as possible

    thanks
    suresh

    • Dear Sir,

      Account can be opened for any girl child in India who has not yet attained an age of 10 years. Since the plan has been recently launched, there is certainly a relaxation of one year for girls who have attained an age of ten year by 01st December 2014 ie girls born on or after 02.12.2003, only in case if their account is opened by 01st December 2015.

      Amit
      amit.khyalia@gmail.com

  • Hi Srikanth,

    My daughter is 6 months old and we would like to open this account in this year.

    Can both parents operate this account .. meaning… can both parents who are working contribute to this account.

    If yes then can both of us claim 1.5L 80C tax benifit. If no can one contribute to the account opened by other spouse and claim tax benefit.

    What documents are required to to claim tax exemption.

    thanks in advance

  • My daughter’s date of birth is 4-3-2005 if I deposit rs. 10000 per month for 14 years then what amount I will got

  • Hlooo Srikant can u giv calculator fr calculat SSA, fr 5 mnth child giv 1000 or 2000 pr mnth up2 14yrs n mature aftr 21st yr.

  • my daughter was born on 28.05.2013 so is she eligible for the sukanya samrudhi scheme..so please reply

  • My daugther is 2months i want open post office account plz kindly guide me that is benafact of girl child savings in fucture

  • Hi Sreekanth,
    I am thinking to open sukanya samriddi account during this Dec. Will be able to deposit 1,20,000 on yearly basis, will this totral amount be tax exempted for the year 2015-2016 else only a portion of it will be eligible for tax exemption as per pro rata basis as I am depositing in the month of Dec 2015.Kindly guide me.

  • my daughter is know 9 yera 5 month can u provide me the table for this. if i pay monthly 1000

  • Dear Sreekanth Reddy

    bank can do the transfer procedure, as post office people deny for transfer the AC

  • hi

    i have open SSA account in Post Office, now i want to transfer this account to bank, i visit post office they told me right now there is no provision to transfer this account. please help me out…

  • Hi Sreekanth,
    My question is ,
    Can already opened SSA in post office be transformed to ICICI bank .
    This is to keep all the transactions in one account.

    thanks / regards
    Mahesh prasad

  • Sir , if i deposit 1000/- when opening the account and pay 100/- every month till 15 year how much amount i can get while her age will be 21 year ,
    kindly let me know …
    Regards,
    kawsor

  • My grand daughter born in Dubai (UAE). Weather I can open a/c in Sukanya Samridhi Yogna in her name? Am I her legal guardian? What is the definition of Legal Guardian? My son is working in Dubai since last 10 Years. Her birth certificate is issued by Indian Consulate Office in Dubai. Please give me guidance in this regard.

    Som Datt Yadav

  • sir meri beti 1 month ki hai agar mai 1000rs pa
    r month kare 14 year me 168000 jama hoge 21 year baad total kitne rs. milegi..

  • I have lossed my pass book, i enquired in post office for duplicate pass book. they informed to give police complaint for this. this is mandatory to give police complaint?

  • Sir,

    On maturity who will get the money – i.e. Parents / Gurdian or Girl child? Can the money be withdrawn only by signature of Girl child ?

  • sir mari beti ka birth nakhatrana gujarat me huva hai,meri beti ko ye yoojana ke liye mere pass gujarat ka gujarati lengvaveg me birth certificat hai.busness ke liye khammam telangana me sift huva hu,to khammam postal department department wale birth certificat reject kiya.to pls give me reply.meri beti bithdate21-11-2005 hai

  • Last week opened SSA in SBI.
    Received new passbook in my baby name. good to see.

    We can add beneficiry in our account and transfer money.

    Please approach now to open SSA in SBI.

  • MERI BETI KI AGE 6YEAR6MONTH HAI TO MUJHE KITNA YEAR TAK PAISA DEPOSIT KARNA PADEGA

  • i want to deposit 150000 per year for 14 years. what should be my maturity value.
    pl tell me

  • Sir,

    Meri Beti 6 Yrs ki hai or muje kitne dino tak paisa jama karna hoga, or agar 14 yrs se pahle agar meri death ho jati hai to jo paisa milega wo kise milega or kese milega ,

    Please reply me

    • Dear Suresh,
      You can contribute to SSA account for 14 years from the date of account opening.
      In case of any unfortunate event happening, the account holder (child) can continue the SSA account and withdraw money for her education or marriage.

  • Under the SSA/SSY contribution/deposit amount can be allowed to increase in any time/year by the parents/guardian if so desire. Pl.clarify, since it is beneficial to the poor.

  • sar mere ko ek baat puchana tha ki jaise ki jiske naam par a.c girls ko kuch ho gaya to uspe kya proc
    ess rahega

  • Mere girl 10year ki he to muge kitne years tak pessa jma krna pdga 1000monthly per or kitna ru.milege

  • Dear sir
    In case of a girl child who is of nine years and nine months old, if her father wants to open SSA but if he dies before 14years of keeping that account operative, will the account be kept operative by government by way of depositing monthly deposit as made earlier and all benefits given to that girl child as if her father is alive?

    My second question is will the maturity amount be given only to the hand of girl child in whose name the account exists or to the father who opened SSA on girl child’s name?

  • mari beti ki umar do saal hai agar hum 1000/. monthly bharte hai to beti 25 sal ki hone per kitna benefit milenga.

  • Dear sir,

    Our child was born outside India and holds non-Indian passport. We are living in India now. Can we open SSA for our child?

    Thank you.

  • Hi,

    I visited SBI today and they told me that I would not be able to open SS account since i have PPF account on my daughters name. Is there such a rule?

  • Hi sir,

    My brother daughter is 4 years old. i want to one time deposit Rs. 20000/ -, which scheme best?
    pl tell me.

    thank you
    Saritha

  • Sbi says ssa & ppf both can not be oPen in the same name. Can I convert ppf account to ssa account

  • My daughter is 20 months old. Before one year I opened her ppf account in sbi. Now I want to open ssa account but sbi refused.&said noone can open more than one ppf account how can l open ssa account
    Because ppf can’t be closed. Can I convert it to ssa account.

  • what is the maturity value if monthly deposit is 100/- for 14 years?
    after 21 years how much amount I will get?

  • Sir, My daughter D O B 13/12/2013 my question is in case me the earning person not for other than after 2 or 5 year me death no any body pay the amount to deposit this condition what is rule of govt. to pay the money or refund of my amount which type kindly suggest

  • SIR, DOB OF MY DAUGHTER IS 17/06/2008. I HAVE ALREADY OPENED A SSA IN HER NAME. PLEASE SEND ME A EXL CALCULATOR FOR CALCULATING MATURITY VALUE AT 21 YEARS AFTER DEPOSITING RS. 12500 MONTHLY , UPTO HER 14 YEARS OF AGE.

  • In furtherence to my posting on May 16, 2015, I would like to know further details. If I invest every month Rs.5000/- then amount I am going to invest for 14 years is Rs. 8,40,000/- . As earlier said my daughter age is 9 years. After investing 14 years (my daughter age will be around 23 after 14 years), can I withdraw full amount at the age of my daughter attaining the age of 23 years? and how much I will get?

  • My daughters birth date is 18/07/2010. if I opened A/c and deposited monthly amount Rs 400
    please guide me.
    please do the needful

  • My daughter is 9 years old. If I invest every month Rs. 5000/-. How many years I need to invest? Can you please tell the maturity amount?

    • Dear Raghavendra,
      You can deposit for the next 14 years and the account can be kept active for the next 21 years (from the date of account opening).
      Kindly download the calculator from this link – Click here.

  • Can anyone please send the excel calculator on my email id.

    Thanks in advance

  • Meri beti ki d o b 8/04/2009hai kya me a/c khol sakta hu jese mene pahli sal 12000 jma kiye dusri sal es rkam ko bda skte kya

  • Sar me apni beti ka a/c kholna chahta hu 12000 year ka 18 year me kitna milega or fir 21 year me kitna milega agr 18 me nikal liya to 21 me nhi milega kya

  • Dear Sir,
    My daughter birth date is 15.7.2006. ( Now she is at the age of 8 yrs & 9 months). If I open a SSA account for her, can I withdraw ALL THE AMOUNT from the account before the marriage, if I plan to conduct marriage at the age of 24 yrs

  • Sir,

    I want to start invest in SSA, i have opened with 2000/-. will i have to pay monthly? or can be deposit flexible amount in every financial year?

  • Sir,

    My daughter is 2 years old. i have opened SSA. i will deposit 6000 rs. per year, then what is the maturity ammount at the age of 21. Please do reply. Thank you.

  • sir meri bachchi ka janm 2/12/2003 ko huwa to SSYA khulega ya nhi ?
    khulega to 1000 monthly jam karne par 21 sal bad kitna banega

      • Dear Mr.Readdy,

        We are opening a SSA account in name of our daughter who was born on 25/10/2010.the amount would be 1000 per month.can you plz assist me wht will be the amount i will get after she is 18 year or 21 year.and can we withdraw money in between if required.

  • Hi Sir,

    If I deposit 5000 a year then when will be the total amount after 18 and 21 year.
    If you don’t mind please send me the SSA calculator in exl format. Your help would be highly appreciated.
    Thanks
    Vijay pandit

  • I Have to open SSA account for my daughter. Please can you send me a SSA calculator

  • I read in your post that the SSA account even if it is opened in a post office later on it can be transfered to our preferred bank. Please clarify what shall I do to transfer it from post office to my bank. I have already opened it in a PO

  • I deposit rs 120000 at a time Apr 2015 for my daughter (d.o.b
    .) 20-03-2007 in SSA please send calculator of interest in SSA

  • i want deposit some fund in ssa monthly basis kindly provide me calculation format in exl, with intrest rate of 9.2% kindly help so i can deposit with help of chart.

  • Dear Sir,
    If I deposite rs.36000.00 in a year . what will be the maturity amount.

  • Very nicely explained! Very nice examples!

    I am just adding Pros and Cons of schemes below:

    Benefits of Sukanya Samriddhi Yojana

    1. You get Tax exemption under 80C section upto 1.5 lacs
    2. Better interest rate than FDs/ PF
    3. Transferable Anywhere in India.
    4. Even Girl Child can operate after she attains the Age of 10 Year.
    5. Payment on maturity to girl child.
    6. Flexible deposits.
    7. Complete your life goal of kid’s education.

    Cons of Sukanya Samriddhi Yojana
    1. High Lock in Period
    2. Limitation on number of Account
    3. Scheme do not provide for online transfer of Amount in this account. It allows only payment by Cash, Cheque and Demand Draft.
    4. No Clarity on Future Interest Rate for this account.

  • My baby’s birth on 21.08.2005
    I interested in deposit rs. 2000 per month
    So pl. Give information of mutual amount after 21 year and partly withdraw amount after 18 year

    • Dear Sunil,
      The approx maturity amount can be Rs 12 Lakh (21 years from a/c opening date). The fund balance can be around Rs 2.7 Lakh (when your child attains 18 years, 8 years from now).

  • i want deposit some fund in ssa monthly basis kindly provide me calculation format in exl, with intrest rate of 9.2% kindly help so i can deposit with help of chart

  • Hello Sir,
    i want deposit some fund in SSA monthly(4k) basis kindly provide me calculation format in excl, with interest rate of 9.2% kindly help so i can deposit with help of chart. How many years i need to pay ? and how much amount i will get it After 18 years?

  • Sir,

    i want deposit some fund in ssa monthly basis kindly provide me calculation format in exl, with intrest rate of 9.2% kindly help so i can deposit with help of chart

  • Dear sir, iam plan to deposit SSA scheme but my child age is 9 years. I plan to deposit Rs.1000/- per month. When is maturity period (When child turns 21 years age (or) 21 years from the date of opening). In case 21 years from the date of opening (my child turns 30 years). I planed to marriage for my child at 2o years age. Account will be close at the time of marriage. Kindly guide me

    • Dear Ravi,
      The account can be continued till 21 years (from the date of account opening). If your child gets married after attaining 20 years, SSA has to be closed immediately.

  • Presently I am depositing some amount in the Canara champ account of canara bank, please suggest whetehr to continue in the same mode or to start savings in sukanya scheme, if yes in sukanya scheme please provide me the calculator

  • sir,
    i have twin daughters(dob-05/03/2004),i know, we can open accounts, now their age is 11,can i close the a/c after 11 years for their marriage.

    • Dear Merline,
      You have the option to withdraw 50% of the fund value once your kids attain 18 years of age. After their marriages, can close the accounts and withdraw the monies.

  • Iwent to post office for 10 times but the post office staff says that form is not available.

  • sir,
    My daughter DOB Feb 2010 and I deposited 1000/pm for 14 yrs. What’s maturity amount. Including (5 yrs born 14 yrs plan). I want to open SSA a/c in Apr 2015. Suggest me sir.

  • hai sir

    i have a small dought please tell me sir e amount
    monthly one time or yealy one time kattala please tell me sir

    • Dear Prveena,
      Kindly note that there is no rule that you need to deposit atleast once in a month/year..
      Only thing is, you need to deposit atleast Rs 1000 in a financial year.

  • i have a daughter of age 1 year 6 month if i will deposit 60000 every year in every month of april
    how much i will get at 21 years.
    is it beneficial to deposit amount 60000 in one installment or there is no benefit
    it is same as deposit amount 5000 per month

    • Dear Pushkar,
      If you invest lump sum investment, you get higher interest amount.
      The approx maturity amount (after 21 years from now) can be around Rs 31.5 Lakh.

  • Good noon sir,
    I am glad to read most of the queiries and your reply. You have replied most of the queries. my query has solved from the others queries n reply. i think you cn give the option only to calculate the interest so everybody can count it there own. Thank you.

  • Dear sir,
    My daughter dob is 22/7/2013 ,sir I. Am fonfuced I have to deposit monthly or yearly if monthly thn how much the amount and if yearly thn how much the amt and at the time of maturity how much we can get pls send me the chart and can I open the a/c in SBH bank pls reply me sir

    Thanking you

    • You can deposit any amount in a year from Rs 1000 – 1.5 lakh in any month. Banks are yet to provide facility to open Sukanya account. You have to wait for further updates.

  • Dear sir i have one baby she’s brith date is 10/07/2014 i have opening account this mounth & deposing monthle 1000rps ples send ofter 18 years balence

  • i want invest in ssa if govt changed is there changes in ssa scheme plz send calculationformat in excel format

  • Dear sir

    I have a Daughter.
    Birth day 07.02.2014
    I CAN START THIS ACCOUNT THIS MONTH.
    I Can Deposit 1000/- Per Month.
    How Much Met Me After 19 Years?
    Please Give Me the details in excel format.

    Thanks for your cooperation and valuable replay

    Regards
    Saleesh

  • Dear sir

    I have a Daughter.
    Birth day 02.02.2012.
    I CAN START THIS ACCOUNT THIS MONTH.
    I Can Deposit 1000-1500/- Per Month.
    i can deposit starting time 1500.
    How Much Met Me After 19 Years?
    Please Give Me Chart Of Year By Year,

    Regards
    M.Lokesh Reddy.

  • sir Plz send me calculator (exl Sheet) i want deposit some fund in ssa monthly basis kindly provide me calculation format in exl, with intrest rate of 9.2% kindly help so i can deposit with help of chart

  • my doughter date of birth is 18-12-2003 now can i open a sukanya sambrudhi account please guide me, thank you

  • Dear Sir,

    My daughter’s DOB is 26.07.2005 , if suppose I start SSA this month by investing Rs. 5,000 per month. In which year I can withdraw 50% for my daughter higher education and the full maturity will also come in which year or it is related to the marriage only. The day my daughter get’s married she can claim the maturity.

  • Dear Mr. Reddy-
    My daughter is just 3 month old, please advise about choosing this SSA scheme is best for me in compare to LIC and other life/children plan? part of this is interest after maturity also tax free under this scheme? is this scheme available in corporation bank as my corporation bank manager denied for this scheme.

    looking forward to hear your reply.

    Thanks
    Kumar Gaurav
    082872214**

  • sir,
    i have 2 questions My daughter is 3 years old, if i invest [Rs12000] perYEAR , how much will i get after 21 years, THEN IF I INVEST 1000 Rs per year how will i get after 21 years

  • Sir,

    I have a daughter

    DOB is 15-08-2014

    and i deposit per month Rs. 3000/-

    How Much Met Me After 21 Years?

    Thank You Sir.

  • Hello Sir,

    i wanted to invest for my daughter, but know people are saying it is not good to invest in this scheme, better off to invest in RD or FD or LIC new policy, i am little confused can you please help me on this and also if you can mail me the calculator it would be great.

    thanks in Advance.

  • Sir if i want desposit 20000 rs per year In ssa. Then what profit after 21years.

  • Dear Sir,

    I have twin daugters, dob is 11/12/2013. I am planning to apply for SSA scheme. Plz clarify below queries.

    1) Is it good time to open an account before 10th of april 2015? if yes, what is the advantage. if No, what is the disadvantage.
    2) Can me and my wife be a depositor for each child respectively? Will it be tax benificiery for us?
    3) What is the benifit/advantage if i pay 1.2lakhs annally viz-a-viz paying 12,000 every month.
    4) Can you plz share excel format for calculation which helps me better to plan how much to deposit on each kid?

    Appreciate your suggestion/help for everyone.

    Thanks in advance
    Jayavardhan

    • Dear Jayavardhan,
      1 – If you open at the beginning of the month/financial year, you get full year interest rate.
      2 – Yes, you can open. Both of you can avail the tax benefits.
      3 – If you deposit the amount in the beginning of the year, you will get higher interest amount when compared to monthly deposits.
      4 – Emailed the calculator.

  • Hi,
    I’m visiting india for short term trip, would like to open SSA for my daughter.
    Is the worth plan for saving money?
    Becos interest rate is fixed for all 21 years right?
    then its like another PPF like product..no use i think..based on Inflation rate in India now…
    Please reply.

  • Dear Sir,

    I take a Child Plan of Union Dai Chi (a joint venture of Union bank of India & Bank of India) of 5.00 Lacs Sum assured amount. please guide me about this child plan is better or not, please suggest me another child plan for my children. I have to children, one daughter of 7 years old and one son 2 years old. please guide me about the plan which protech their life, educaiton and marriage purpose. I shall be highly obliged to you

    Gautam Monga

  • Hi sir,
    I have a 3 months baby, so i want to open a SSY account, so what is the age limit need for baby, 3 months is enough or she need 1 year.

  • Dear sir,
    my daughter age is 1 years.
    if i pay 12000/anu till 14 years.
    how much i will get after 21 years

  • Please confirm mi that my son’s daughter birth place is Germany 2014 but she get Indian Passport. My son’s nationality Indian. Can she open sukanya samriddhi account.

  • sir my daughter;s D.O.B IS 4 SEP 2013 IF I DEPOSIT RS 1000/- MONTH then maturity will be what…….?

  • my child birth in march i want to deposit 1000.00 amt. so how much i got after 14 year
    please give help

  • Dear sir

    My daughter age is 5 months old.

    1 yr 10k
    2 yr 12k
    3 yr 14k
    4 yr 16k
    5 yr 18k
    6 yr 20k
    7 yr 22k
    8 yr 24k
    9 yr 26k
    10yr 28k
    11yr 30k
    12yr 32k
    13yr 34k
    14yr 36k

    I invest 2000 extra for every year.I will finished 14 years end I will paid totally
    RS.322000.

    How much I will get at 21 year?
    How to calculate the formula?

    Sir can you send the excel calculator for SSA to my E-mail id.

    Sir you are doing wonderful job.great peoples are doing great works like you.

    Thank you.

  • Dear Sir,

    Sir i open account with 1000 rupees and next month deposite 6000, 9000, 8000, 1500 etc please clear our confusion this is allow or not in ssa account.

  • Dear Sir,

    Sir If suppose i open ssa 2015-16 with 1000 rupees in month april then next month i deposite 5000 rupees in may then next month 2000 rupees deposite june then next month 1500 deposite in july then i deposite different amount to march 2016, suppose i deposite 25000 in total in financial year. Then please clarify, that how much ruppes on interests will be allow and how much gross rupees give me on financial year 2015-16.

  • Dear sir

    This SSA scheme is having any last date for applying account. Because I am in maternity leave so I am able to work on sep 2015 onwards.
    Thank you sir.

  • I have a Daughter.
    Birth day 04.12.2014.
    I have to plan to start this account from April Month onwards.
    I Can Deposit 2000-3000- Per month.
    so After 21 years
    how match amount will come.

    plesae sir help me

  • Dear Sir
    My Daughter’s DOB is 29/03/2009 & If I will deposited Rs.1000/p.m. than what will be duration to be profitable for me. & what amount I will received at maturity.

    Dear Plz Suggest…ASAP.
    Thanks & Waiting for your reply..

  • Dear Sree,
    Two daughters: 8 years old and other one 1.5 yrs. I can deposit Rs.500×2 per month
    please calculate after 14 years and completion amout. .. please.

  • Sir my child d.o.b. is 22 12 2012 if I submit amount 24000 PA from march 2105 . what would I got after 21 years. Suggest me

  • Hi Reddy
    My daughter DOB is 01 June 2009
    If I open a SSY account with an yearly deposit of 1.5 Lakhs in a single payment for continuous 14 years

    What would be the maturity amount .as per my understanding maturity year would be 2036

    How much amount can I withdraw on my daughters 18 year i e 2027

    If daughters marriage is say in year 2032 what would be my maturity amount

    Is it financial year or calendar year wrt deposits

    Kindly send me my daughters illustration to my email id

    • Dear Manohar,
      Financial year (April to March) is considered.
      You may receive around Rs 78 Lakhs after 21 years from now.
      The year end balance after 12 years from now can be around Rs 30 Lakh. You may withdraw 50% of this fund.

    • Thank you Sreekanth Reddy for your reply

      Also i have below 2 queries

      1. “Lets say i open an account in post office now and later if i want to go ahead with the bank is it possible. The reason is currently banks are not offering this account”

      2. As per the latest union budget is SSY eligible to be a EEE product . Please clarify

      Thanks in advance

      • Dear Manohar,
        1 – As per Govt’s Gazette, you can transfer the account from a Post Office branch to a bank branch.
        2 – Yes, SSA falls under EEE tax category.

  • I have cute daughters and their DOBs are 02.09.2012,05.10.2014 planning to open SSA
    Can you give me maturity amount details if I open 5000 per month for each of them

    BR

  • is it possible to pay the amount thorugh SBT after open a Sukanya Samriddhi Account in post office?

  • sir
    in ssy acount depositing money 12,000 monthly 1st of every month gains more interest or 1.50 lac on april 1st of every year gains more interest.

  • Hi Sreekanth,

    Could you please explain why there is difference in Scenario1 and Scenario2 interest amt though the contribution is same ?
    How actually it is calculated? For yearly i am clear. Explain more on monthly contribution.

    • Dear Aruna,
      If you deposit the amounts every month, the interest is calculated on previous month end balance.
      Whereas if you deposit in the beginning of a year (yearly mode), interest rate is applicable for the entire year right.

  • my daughter is 10 years old . if i deposited 12000 yearly. how much money i recieve when i need money for my daughter marriege purpose. suppoose my daughter got married on 2025. my accound will mature as my daughter got married.

    • Dear Sir,

      Can you send me total calculated amount for each amount means if i paid yearly 12000 or 24000 or 36000 or 48000 or 60000. pls send different calculated sheet for each one.

      Reply

  • Hi Sreekanth,

    Could you please explain why there is difference in Interest calculation for “Scenario 1-Monthly Deposit and Scenario 2-Yearly Deposit”, though the total contribution is same? Thanks in advance!!
    And i would say this is great scheme with proper explaination.

  • dear Sir, My Daughter is 5 year old. if i will open account with 2000/per month for 14 years how much i will get back at completion 0f 18 years of my daughter (it will returned with 50% of deposited + interest?) and also at 21 years? if i withdrawal at 18 years for marriage purpose is account will closed?

    Please Give your Best Feedback

    Regards with THANKS
    Solanki Ullash

    • Dear Solanki,
      When your kid attains 18 years of age, you can withdraw 50% of Rs 5.5 Lakh (yes, interest is included).
      When you kid attains 21 years (16 years from now) the balance in the account can be around Rs 7.5 Lakh. The account can not be operated after the marriage.
      If you close the account after 21 years from account opening date, you may receive around Rs 12 Lakh.

  • Dear SIr,

    meri beti ki DOB 02/01/2015 h. me rs. 1000/- per year deposit karata hu to mujhe kitna milega or kab milega.

  • Hello Sir,
    My doubt is ,how many payments can be paid in a month ,is there is a way to pay the amount of Rs .100 in 10 dues in a month is it is possible to pay in this way or monthly once could be payment is allowed .please reply in my mail because i cannot pay Rs 1000 in single payment but i want save 12,000 per anum for my child future due to my family poor condition.
    Regards DEEPA SENTHILKUMAR

    • Dear Deepa,
      The initial deposit amount (while opening the a/c) is Rs 1000. After that, the minimum amount can be in multiples of hundred. Yes, you can deposit 10 times (10 * Rs 100) in a month.

  • Great work Sir. No need to find anything else, anyone visit your blog. He will get the complete information about Sukanya Samriddhi Account definitely. Thank you so much for this great work.

  • sir,
    the dob of my daughter is 12/02/2009.
    1.till which date ,i have to deposit?
    2. on which date will be the matured?
    3. if 1000/- per month will be deposited ,then what will be the approximately mature value ?
    4. on attaining age of 18(eighteen), what amount can be withdrawn ?

    • Dear Nirakar,
      1 – deposits can be made for 14 years from ac opening date (2015 +14 = 2019)
      2 – You can operate the account for 21 years from ac opening date (2015+21 = 2036)
      3 – Rs 6 Lakh (approx)
      4 – Around Rs 2.5 Lakh

  • MY CHILD IS 6 YEARS OLD.IF I DEPOSIT 12000 IN EVERY YEAR .WHAT IS MY MATURITY AMOUNT AT THE AGE OF MY DAUGHTER 21 YEAR ie in 2030.shall i can close my account and get the full maturity amount for my childs marriage purpose??OR IS MY ACCOUNT CAN BE CLOSED ONLY AFTER MY CHILDS MARRIAGE??

    • Dear Baiju,
      The account balance can be around Rs 3.7 Lakh (in 15 years from now).
      The account has to be closed after the kid’s marriage.
      You may withdraw 50% of account balance when your kid attains 18 years.

  • 1)I have opened SSYA for my daughter in mar-2015 and paid maximum amount (1.50L). So i can pay for next financial year apr-2015 to mar-2016 financial year from Apr-2015 (1.50L =Rs.12500*12months).
    2)One more clarification : We have to pay for 14 years ie mar2015+14 years = mar 2029 (maximum amt 1.50L for the financial year)or i can also pay upto dec- 2029(1.50L for the financial year)
    3)After the child got married , she can close her account after end of financial year so she can get interest or account should be closed immediately.

    Kindly clarify me

    • Dear Subha,
      1 – Yes, you can contribute deposits of Rs 12500 * 12
      2 – I believe that you can contribute to SSA, till completion of fourteen years from the date of opening of the account. So, it will be upto Mar 2029.
      3 – The account has to be closed after she gets married. The operation of the account shall not be permitted beyond the date of her marriage

  • Sir, Can Husband and wife open the Sukanya Samriddhi account separately in single female child name?

  • hello sir i want to know the amout which i will recived on maturity will be income tax free or taxble??

  • hello sir i want to know is that possible if i deposite 1.5 lac in one yesr and some less amount in next yesr i.e 1000-10000). veriation in deposite is allowed or not??

  • Dear sir i have female child her date of birth 26.04.2008,
    but i don’t have her birth certificate, can i open sukanya samriddhi account

  • Dear shrikantha,
    My wife wants to open account and acts as a depositor for the child with DOB 07-12-12 with a year contribution of 12000/-.what will be the approx calculation if i consider this year rate of interest ? to claim 8oc tax benefit i should produce my daughter name OR my wife name ?

  • Dear Sreekanth,
    I think the total calculation is on some assumption but it is not sure that we will definitely get the amount as indicated in the table. It’s not like fixed deposit it’s like mutual fund. The interest rate may increase or decrease depending upon the economic growth. I am not satisfied with the scheme as it is not at all giving confirmation exactly what amount we will get?
    any way thanks for providing the information.

    • Dear Shaik,

      I agree with your views. Interest rates of SSA & PPF a/c may vary every year.
      Whereas if you book (say) a fixed deposit or Recurring deposit, the rate of interest is fixed for the entire term.

      • that’s what in fixed deposit it is clear that you will get fixed amount but in these no guarentee. can you send the xl calculator for ssa to my e mail id

  • Dear sir,

    my doter age is 8th year ranning i will pay monthly Rs 3000/- to sukanya samridhi account ,

    please give me interest & maturity amount calculation chat

  • hi
    I have a Daughter.
    Birth day 24-05*2014
    I CAN START THIS ACCOUNT THIS MONTH.

    How Much i have to pay monthly. i cannot understand
    and how much earn after 21 yrs
    Please Give Me Chart Of Year By Year,

    plesae sir help me

    thank you

  • dear sir mw 14 year me har saal 12000 jama kara ta hu to mera total amount 168000 hota he to muje 21 sal bhad how much interst amount or meri beti ka dob he 06/02/2015

    • Hi Jai,

      You can download the SSA calculator and check how much your maturity amount will be. But don’t go by that way as these are not actual returns. Interest rate will be changed yearly, so it is not possible to know about the maturity amount. If you have a girl child and you want a decent return without taking any risk, I think you can go ahead.

      What you say Shree?

      • Dear Santanu,
        Thank you for your inputs.
        Yes, all the calculations (interest & maturity amounts) are all based on certain assumptions. I request all the readers to understand these assumptions (mentioned in the article).

  • My daughter age is 8 year. I want to deposit 2000/- per month in sukanya yojna. Pl tell me what is the maturity after 14 years.

  • Can you send me total calculated amount for each amount means if i paid yearly 12000 or 24000 or 36000 or 48000 or 60000. pls send different calculated sheet for each one.

    Please send me the calculation Excel Sheet.

  • Dear Sir,
    MY DAUGHTER DOB is 19 OCT.2013. I WANT TO DEPOSIT Rs.1000 OR 1500 OR 2000 PER MONTH. HOW MUCH I WILL GET ON MATURITY ? PLEASE SEND ME ON THE EXCEL FORMAT ON MY E MAIL ID.
    THANKS & REGARDS
    BIRENDER SINGH

  • Dear Sir,
    MY DAUGHTER DOB is 19 OCT.2013. I WANT TO DEPOSIT Rs.1000 OR 1500 OR 2000 HOW MUCH I WILL GET ON MATURITY. PLEASE SEND ME ON THE EXCEL FORMAT ON MY E MAIL ID.
    THANKS & REGARDS
    BIRENDER SINGH

  • Good afternoon sir.
    I have two daughter. 1st is DOB 31/01/2011. And 2nd is DOB 12/12/2014. I have open two account or one account ? I can pay 50,000 Rs per year each. So after 21 years how much I will get ? Thanks Alok.

  • Respected Sir
    My daughter’s date of birth is 15th October 2005, if I pay Rs 6000/per year , how much amount she can get at her 18 years for her higher studies?

  • Sir, My Daughter DOB is 6/7/2008 I want to open SSA i m paying 1000 per month how much will get in the maturity amount.

    Pls. Send me datailed calculation in my email.

    Thanks & Regards,

    Sujata.

  • I have 1 kid her age is 1 year.i have to pay monthly 6000.how much money i get at maturity time pls forward excel format to my mail ID

    and another kid now 8 years old. i have to pay monthly 3000.how much money i get at maturity time pls forward excel format to my mail ID

  • Hello Sreekanth,

    Which is better place to open this account Post office or any bank (say SBI).

    If it is opened in SBI , 1) can we link this scheme to online banking and can we see the details over online .
    2) can we pay the premium through online with out going to Bank ?

    Regards
    Noyal

  • Hi Sreekanth,

    For the financial year 2014-15 the rate of interest is 9.1% and central govt will notify the rate for the forthcoming years on yearly basis.

    My question is that whether there is a chance to come down the rate of interest in the forthcomming years.

    If the rate comes to 8% then this sceme will not be an attractive one.So is there any risk due to the fluctuating rate.

    Is there any sum assured as mentioned in the calculation chart.

    Kindly advise.

    • Dear Allen,
      Yes, interest rate may vary from year to year.
      I believe that may be the case with all the fixed income securities like Bank Fixed Deposits, PPF, RDs etc.,
      Kindly note that this is not an insurance scheme, no sum assured is available.

  • Hi Sreenath,

    Its really very good article. keep it up.

    I have question

    1) First can i open account to my elder brother daughter has a guardian?
    2) Second within this month i will deposit 120000 lakh, then they will calculate/give the yearly interest (above said 10000 rupees)
    3) I’m physically challenged so any other facilities is available?

    Please advise me on this regard.

    Thanks & Regards
    B.Rajesh

    • Dear Rajesh,
      1 – What about the kid’s parents?
      2 – The interest is calculated on monthly balance. You will receive one month interest.
      3 – Kindly note that no other facilities available.

  • Dear Sir,

    Can you send me total calculated amount for each amount means if i paid yearly 12000 or 24000 or 36000 or 48000 or 60000. pls send different calculated sheet for each one.

  • Hi

    My Child is 7 years old. I want to Invest 1000/- Rs per month. So pls advice me to” how much amount i will get in after 18 years completion of my child”. and (how much amount get after 21 years of completion of policy).

  • This is really a good savings for a girl child. so that parents can get relief (up to some extent) from the financial worries for the higher education and of course marriage also.
    I have a 6 years old girl child and wants open this SSA account I can deposite 25,000pa. so will you please tell me what is the maturity amount?

    • Dear Prakash,
      “Up to some extent” is the key here. One should not put his/her entire savings in this scheme. A portion of the savings can be invested in this scheme towards girl child’s education. I strongly believe one needs to opt for other investments too (like mutual funds) to accumulate sufficient corpus for kid’s higher education or to meet marriage expenses.

  • My daughter DOB 9year’s
    I can start this account
    This month
    Account maturity date,amount and periodperiod.
    Plz Rely me

    • Sir,

      If unknowingly wife and huabend open this account saperately in different states 2acconts on single child then what are consequences please let me know repl needed

      • Dear Sandhya,
        I too have this doubt. As of now, I do not have the answer.
        I don’t think post offices or banks have infrastructure in place to track multiple accounts (as of now). We need to wait for few more days/months to get clarity on this topic.
        By the by, did you open two accounts?

  • dear sir,

    my daughter dob is( 08-08- 2010) i want to open SSA i m paying 1000 per year how much will get in the maturity amount

    Regards,
    rajni patel

    • Dear Sir,

      Can you please send SSY calculator in excel format .

      Regards

      Rajni Patel

        • Hi,
          can u please share the Excel calculator for SSY on mail.

          Also I wanted to understand that there are many options to invest in market for this big tenure… so what are other better options than SSY ?
          Like Recurring deposit with some bank ?

          • Dear Anurg,
            Small Savings Schemes like SSA & PPF (public Provident Fund), post office deposits, bank deposits, NSC (national savings certificates), KVP (Kisan vikas patra certificates) etc., are fixed income (safe) debt-oriented securities.
            For long-term goals like Kid’s higher education, I suggest you to consider investing a major portion of your savings in equity mutual funds and a small portion of your savings can be invested in either PPF or SSA (if you have a girl child).

        • Hi Sreekanth

          Your explanation regarding the scheme and your opinion shows your expertise.

          I would like to request you to send me a copy of Excel calculator of SSA to my mail.

          Thank you.

      • my daughter age 8year i have pay 1500year in S S A CAN YOU TELL ME HOW MUCH I GOT

  • dear sir,

    my daughter dob is( 4-10- 2014) i want to open SSA i m paying 6000 per year how much will get in the maturity amount

    Regards,
    Janardhan

  • HI,

    I am planning to open the account, Can you please confirm me the amount which we are paying is TAX benifit. Only Parent and guardian can open the account in the name of child, what about the next installment any one can go and pay the amount on behalf of parent/guardian?

    • Dear Sowmya,
      Deposits in SSA are eligible for tax deductions.
      I believe that the deposits can be accepted (but govt circular clearly states that child’s parent or guardian has to deposit the monies)

  • my daughter age is 6 now, if i pay 100 per month. how much will she get at her age of 21

  • Dear, I am an NRE (Non Resident Expatriate) residing in Saudi Arabia. I would like to know some details about SSY.

    What I need to know is, can my wife’s parents open this account for my daughter with all the documents of my daughter and of me or my wife?
    As they mentioned Rs1.50 lakhs is the maximum which can be deposited in a year, is it a calendar year or a financial year which is ending in March?
    Is it is okay that I can deposit whatever I like during the year in the multiples of Rs1000 or above up to the allowed limit of Rs1.50 lakhs?
    Even though it is mentioned that this Scheme can be opened in Nationalised Banks, none of the Banks in Kerala (where I have enquired) are ready for this. Is there is any Bank in your knowledge in Kerala (Kollam District) where this is possible? Or only in Post Offices as of now? Actually, if possible, I would like to deposit before the end of the Financial Year.

    • Dear Girish,
      I believe that the depositor (parent) signature is mandatory. (So, I do not have right answer to your question).
      Rs1.5 Lakh per Financial Year.
      Yes, the initial deposit is Rs 1000/-, after that you can deposit in multiples of hundred, upto Rs 1.5 Lakh (max).
      Most of the banks are not yet ready with necessary infrastructure (software) to open SS Accounts. Kindly enquire in nearest Post office branch or State Bank of India (Main branch in your locality).

      • Thanks Mr.Sreekanth Reddy, Just one quick point, is it possible that I can sign the document and send it across to my in-laws for opening the account or I have to be physically present?

    • dear sir,

      my daughter date of birth is 27-05-2012 if i paid monthly 1000/for 14 years are you sure in get the amount of 6,07,128/ for 21 years

  • I think scheme is better than Insurance schemes like endowment / money back or even child education schemes were the rate of return is 6-8%. This scheme can give a better corpus and avenue for investment.

    • Dear Yogesh,
      Agree with you.
      But, one should not put their entire savings in this scheme, if kid’s education is their primary goal. A portion of the savings amount can be invested in this scheme.

  • Sir monthly can I submit 500 rupees or monthly 1000 rupees only is the submitting amount

  • dear sir,

    my daughter dob is( 7-11- 2013) i want to open SSA i m paying 1000 per year how much will get in the maturity amount

    Regards,
    paul jose

  • res. sir
    my ques. is about interest rate, now it is 9.1 but it can decrease or increase as per govt. rules as above saying.
    so how can we calculate the net ammount of saving after 21 years. please clarify my daubt.
    thanks

    • Dear Jaipreet,
      The above figures are indicative only. Yes, the interest rate may vary.
      I have mentioned few assumptions in the article itself, kindly go though them.

  • PPF interest is calculated monthly on the lowest balance between the end of the 5th day and last day of month, however the total interest in the year is added back to PPF only at the year-end.)

    But same interest rule in Sukanya Samriddhi account.

    Thanks & Regards
    Naveen Sharma

  • dear sir,

    my daughter dob is( 5-4- 2013) i want to open SSA i m paying 1000 per year how much will get in the maturity amount

    Regards,
    remya

  • Hi all

    My child age now 3 years , shall i open this account this scheme. monthly rs.500 i deposit this scheme how much my daughter get maturity date

  • YEAR A/C YEAR AGE OF GIRL CHILD OPENING BALANCE MONTHLY CONTRIBUTION YEARLY CONTRIBUTION ITEREST AMT YEAR END CLOSING BALANCE
    2015 1 5 0 3000 36000 3276 39276
    2016 2 6 39276 3000 36000 75276 6850.116 82126.116
    2017 3 7 82126.116 3000 36000 118126.116 10749.47656 128875.5926
    2018 4 8 128875.5926 3000 36000 164875.5926 15003.67892 179879.2715
    2019 5 9 179879.2715 3000 36000 215879.2715 19645.0137 235524.2852
    2020 6 10 235524.2852 3000 36000 271524.2852 24708.70995 296232.9951
    2021 7 11 296232.9951 3000 36000 332232.9951 30233.20256 362466.1977
    2022 8 12 362466.1977 3000 36000 398466.1977 36260.42399 434726.6217
    2023 9 13 434726.6217 3000 36000 470726.6217 42836.12257 513562.7443
    2024 10 14 513562.7443 3000 36000 549562.7443 50010.20973 599572.954
    2025 11 15 599572.954 3000 36000 635572.954 57837.13881 693410.0928
    2026 12 16 693410.0928 3000 36000 729410.0928 66376.31844 795786.4112
    2027 13 17 795786.4112 3000 36000 831786.4112 75692.56342 907478.9747
    2028 14 18 907478.9747 3000 36000 943478.9747 85856.58669 1029335.561
    2029 15 19 1029335.561 93669.53608 1123005.097
    2030 16 20 1123005.097 102193.4639 1225198.561
    2031 17 21 1225198.561 111493.0691 1336691.63
    2032 18 22 1336691.63 121638.9384 1458330.569
    2033 19 23 1458330.569 132708.0818 1591038.651
    2034 20 24 1591038.651 144784.5172 1735823.168
    2035 21 25 1735823.168 157959.9083 1893783.076
    TOTAL 504000 1389783.076

    • NO SUMNTA 5000 KA 19 YEARS KO 1800000/- HOTA HAI MATURITY AMT 2.6 LAC VO TO ONLY INTEREST HAI…….

  • if Open the Account in near by Post office , will give the pass book or its a bound,

  • Sir, if I want to deposit 3000 per month in this scheme how much money can be achieve by me at the time of maturity and also clarify that after 21 year can the parents claim for above or the child only? Please send a month wise deposit plan chart on my I emlil id. Thank a lot for this sir

  • i have a doubt in Interest Amount calculation.
    10000 (monthly contribution)
    120000(yearly contribution)
    9.1% interest
    then interest amount would be 10920 (=120000*9.1%)
    BUT per the sheet it is 6083 .. what is that calculation? sorry if i am wrong…

    • I feel that interest amount of Rs 6083 is correct since amount of Rs 10,000 is deposited every month and interest is being calculated on the amount added.
      If amount of Rs 1,20000 is deposited at once at the start of financial year ie 1 April, then interest would have been calculated on this and it would be Rs 10,920

    • Dear Rashtrapathy,
      In monthly contribution, you deposit 10000 * 12 months, interest is calculated on the previous month end balance.
      In yearly contribution, you deposit today, and interest rate is applicable for the entire 12 months.

  • Dear Sreekanth,
    I appreciate you….for giving the reply to everyone.
    Well done.
    Thanks.
    Kareem.

  • R/sir

    Sukanaya Samriddhi Yozna is very helpful scheme for us. M having two daughters one is 7 yrs and 2nd is 4 years are old. I want to know if I deposit 1000 Rs.each for my both girls then how much amount i will get after maturity. one more thing that it should be fixed amount I have to deposited or i can deposit as per my convenience means initially I opened the account with 1000 Rs. after two month can i deposit 2000 again in next month i deposit 1000. Please clear it. waiting in your reply. can u send me illustration to calculate the maturity amount depends on deposited amount

  • Dear

    My daughter age is one year, i want to deposit 5000 Rs/Month in sukanya scheme. Can u tell me what amount we will get after maturity.?

    Vishal oberoi

  • I have a Daughter.
    Birth day 04.10.2013.
    I CAN START THIS ACCOUNT THIS MONTH.
    I Can Deposit 3000-5000/- Per Year.
    i can deposit starting time 1500.
    How Much Met Me After 19 Years?
    Please Give Me Chart Of Year By Year,

    plesae sir help me

    Thank You Sir.

    sumanta sarkar
    sumantat***@ yahoo.com
    sumanta_*** @ outlook.com

    • Dear Velumurugan,
      Yes you can open two accounts on your kids’ names.
      The minimum deposit is Rs 1000 per year and the maximum is Rs 1.5 Lakh. You can contribute to two accounts but the maximum tax deduction that you can claim under
      section 80c is Rs 1.5 Lakh only.

  • Hi sir,

    I have two daughters,Elder one DOB is 27-jun-2005,2nd one is 3-Oct-2012.I need two open two accounts ,How much money is the minimum to maxmum is i can deposit.Please reply me.

    Thanks & regards
    Velumurugan

  • dear sir my Daughter Birth Date 05/05/2012 my monthly saving is 1000 what is the maturity amount please tell me sir
    thanking you sir

  • Hi Sreekanth,

    Thanks for posting this valuable information.

    I have a baby girl with DOB 22nd August 2011. My question, is it possible to
    deposit 10K per one month and 20K per next month in same financial year?

    Please clarify as soon as possible.

    Regards,
    Madhuri.

  • Dear sir
    My daughter is 7 years old. Im planning to deposit per month 1000 rupees in that account. I need to know minimum how many years i have to deposit and how much amount i will be getting back at the end and in which year.

    • Dear Rubesh,
      You can make deposits upto 14 years from the account opening date. The maturity amount (after 21 years from a/c opening date) can be around Rs 6 Lakh.

  • Dear Sir,
    I Want To Know That My Daughter Birth Date 28/6/2005,
    I Can Open This Account?
    If Yes,
    I Can Deposit 2000/- Per Year.
    How Much Met Me After 14 Years?
    Please Give Me Chart Of Year By Year,
    Thank You Sir.

  • god forbid, as death is uncertain if a girl child dies then what is the procedure.

  • Actually i want to know that my daughter born on 30th July 2015 and now we can open an account called sukanya samriddhi, if we open an account for her , iam ready to pay 12k yearly how much amount shall we get after 21 years .

  • Hi Srikanth,

    Thanks for posting this information.
    Just wanted to know how beneficial this plan is as compared to PPF ? Other than the locking period
    Can this be trusted like PPF ?

    what does this mean, can you elaborate more on this point which you mentioned ?
    The present value (PV) of Rs 62.53 Lakh (maturity amount ) is Rs 8.45 Lakh, assuming 10% as Education inflation.
    Should I understand this in a such a way that, the value of 62.53Lakhs after 15-18yrs would be just 8.45laks due to inflation ? Correct me if im wrong.

    I would really appreciate if you could answer these questions.
    Regards
    Guru

    • Dear Guru,
      My personal opinion is, PPF is still a better choice. You have loan option & partial withdrawal facility after 6 years is also available.
      Also, the interest rate differential between PPF & SSA, which is there now, may not be the same in future.

      Regarding Present value calculation – If current education cost is Rs 8.45 Lakh (higher education), the same may cost you Rs 62.53 Lakh after 15 years (due to rise in prices / inflation)

      • You are right Shree, PPF is far better as we can operate the account online, make recurring payment regularly. But I think we can’t compare SSA and PPF on these factors, as SSA will mainly target those people who are under-privileged. From their need point of view I think SSA has an edge.

        What do you think?

        • Dear Santanu,
          Both are decent investment options and are made available to retail investors (even in small villages / towns) through post office branches. I prefer PPF to SSA.

  • my daughter is 7 years old. i invest 12000 yearly in sukanya-samriddhi scheme. how much i get after 21 years old age?

  • My daughter is six month old,,I want deposit 70,000 thousand per year, can u tell me after 21 year how much money I will recev.

  • MY Daughter age is 7 year. after 14 year (Rs 12000 one year) which amount received me ?

  • My child date of birth is 09-04-2014.

    I can deposit Rs.24000/- per year.What is the maturity amount?

  • My child date of birth is 15-06-2005. It is elligible for this SSA.?

    I can deposit Rs.6000 per year.What is the maturity amount?

  • have a question on tax benefit.

    I and my wife both are working, can we both claim the tax benefit on sharing basis (50% each)

    • Dear Guruprasad,
      Very good question.
      No where in Govt gazette it is mentioned Depositor(s). I believe joint contribution may not be allowed.
      Kindly check with your bank or nearest post office staff. Do leave your comment here (if you get answer from them).

  • Reddy Sir one more question. .. meri daughter ke birth certificate pe uska name nahi hai to kya wo certificate chalega…es account ke liye …plzz reply. .?

  • Reddy sir . I have one question. .. plzz tell me agar mai first month sukanya samridhi yojana acc. Me pehle mahine 1000rs aur dusre mahine 2000rs aur 3rd month fir 1000 jama karvau to total year me jo rupees bane jese maine total year me 22thousand rueee deposit karwaya to uske hisaab se benefits milange…kya..?

  • sir my daughter is 1 yr if I have invested 1000 per year how much I can receive at the end of her 21 year

  • Dear sir
    my daughter dob is 2012 i want to open SSA i m paying 2000 per month how much will get in the maturity amount

  • Dear Sir,

    My girl child is 5 months old, can i open an SSA, and if opened what will be her maturity amount after attaining 18yrs age to 21 yrs, if Rs. 1000/- amt paid yrly.

  • 1) My daughter is 1.4 year old. if i start investing in SSA, at what age will this account be mature…i mean at her age of 23(21+2=23) or at her age of 21(2+19=21).

    2) I would like to open account and deposit 20,000 every year. can you please let me know how much is the maturity amount.

    • Dear Naveen,
      You can keep the account till 21 years from the date of account opening (so, its 23 years of age, if you open the account now).
      You may receive around Rs 10.5 Lakh as the maturity amount.

  • Dear Sir,

    I have a single girl child born in April 2000. Is she elligible for the said scheme. If not than what are the other similar options

    • Dear SKC,
      You can not open SSA account. Let me know more about your Financial Goals. Your child is 15 years old now, do you want to invest for her marriage expenses? How about your retirement plan?

  • hi sreekanth,
    i have a daughter, 7 years old.
    DOB:09.09.2007.
    I have an idea to invest in SSA.
    i have a doubt whether the deposit has to be made compulsarily for 14 years from date of opening or deposit can be made till my daughter is 14 years old.
    i have a plan to invest only for nearly 5 years.

  • Hi Sreekanth

    I have two daughters first is 7 year old and second is 6 months old.

    I want to spend 1 lack for her education and marriage.

    Can you tell me which is the best option for me (which include inflation rate etc.)?

  • My daughter dob is 24 sep 2004. I want to invest 5000 p/m. Up to what age I have to invest and what amount will I get at what age. Pls don’t tell 14 years and 21 years. Pls tell as per age of my child.

    • Dear Pradeep,
      14 years and 21 years thing is dependent on the account opening date.
      If you open account in April 2015, you can make contributions for 14 years from account opening date ie till 2019.
      You can operate the account till 2036. (If your child gets married before this date, account has to be closed).

      The approx maturity amount will be Rs 30 Lakhs. When you child attains 18 (in 2022) the balance will be around Rs 21 Lakh.

  • Very nice article.
    I am sneha, my question is;
    I am a house wife and planning to open ssa or ppf account on my daughter name,who is 3 yrs old now. My husband works overseas,and he is the source of income,who is sending money for ssa or ppf..
    So after maturity of the account what form i have to submit for tax savings? As i am not earning money.
    Tnx in advance.

  • sir my sister have 1 girl she is 7 years old so she wants invest in ssa. she is paid yearly 10,000/- in post office how much will get in the maturity amount
    pls reply….

  • sir,

    I am having two daughters and as their dob is one is 2005 and 2008 so ow can I open their accounts.
    Please guide me.

  • hi sreekanth

    my self vinayak …

    i have investment per month 2000 rs monthly for suknya yojana …

    what is amount of after 21 years with calculate .. and plz provide details of payment facility…

    for exmple .. net banking , credit card . ya or more option …

    plz revert …

    regards

    vinayak k choudhary

  • Dear Shreekanth,

    thanks for the nice post, i have 02 questions, my daughter is now 10 months old, i can invest 50k /year, what you suggest ,this yojna is better or else any other plan you can suggest me.
    2) if i invest 50k/year what will be the maturity amount, considering the current rate of interest.

    • i have investment per month 1000 rs monthly for suknya yojana …

      what is amount of after 21 years with calculate .. and plz provide details of payment facility…

  • Dear Sir,

    Mera ek question hai sir kya hum 1st year 36000 deposite karte hai or second year 25000, means every can we deposite different, different amounts ??? Or we have to deposite fix amount, which we decided on account opening time.

  • Dear Sir,
    Sukanya Samriddhi Yojna me minimum per month kitna deposit hai or maximum kitna ?? Kya account opening form internet per bhi uplabdh hai ya nahi agar hai to kon si site se down load kiya ja sakta hai ??

  • Hi, I’ve visited various nationalised banks ie N SBI,Axis bank, Idbi bank etc about this account but none of the banks are aware of this yojna. . Is this only on papers? Where can I open the account?

  • Hi,
    Recently I have visited in State bank branch in Delhi, They dint have any qlue about the Yojan.
    even the branch manager say..whats this yojan we dnt know…

  • Hi

    I have a doubt, this scheme says The contributions are allowed upto 14 years from SSA account opening date. But if marriage of a girl child occurs before 14 years (let’s say anyone starts this scheme at the age of 9 yrs of girl child and after 13 years at the age of 22 years she will be married) then in this case anyone will pay till 13 years only. So is it allowed??

  • Hi Sreekanth ,

    Nice and very informative post, I have got a question , I am planning to invest in my daughters name and my wife will be claiming exemption for the same. In future if my wife does not claim , can I deposit and claim exemption.

    • Dear Mohan,
      If you are the contributor, how can your wife claim the tax exemption?
      I am not very sure regarding your second query. I believe, new guardian/depositor is allowed only if there unfortunate event happens.

  • sir kya hum is policy ko online balance dekh skte ha.
    agar me 10000/- march me jmma krata hu to interest kaise milega

  • By when you are expected to get clarity on tax (E-E-E)? Unless this scheme is not E-E-E, it is not advisable since PPF gives better yield.
    Secondly, which banks have got mandate for this scheme? There is no public listing of designated bank branch available on net.
    Thirdly, what treatment will be given on maturity? Since the corpus will be made available in child’s name while the investment will be in parent’s books of account? Does this mean that at the time of maturity, parent need to show as gift? if yes, it will attract gift tax.
    Lastly, is the interest calculation on monthly closing balance or daily balance?

    Thanks for sharing knowledge. And information is articulated very well.

    • Dear Mitul,
      Very good questions.
      As of now, PPF with Exempt-Exempt-Exempt tax rule, is the best savings option. We may get clarity on SSA tax rule in this coming budget.
      Yes, there is no information available about the authorised list of bank branches. As attached in the article, post office branches have received official circular to accept the deposits under this scheme.

      If E-E-E tax rule is followed, then no issue with taxation part.
      If interest is taxed, then I believe the same rules of Recurring Deposit/FD deposit taxes are applicable. Kindly read my article on “FD & RD taxes.”
      Interest calculation is on monthly balance basis.
      Keep visiting and do share your views regularly. Cheers! 🙂

  • my daughter’s DOB 20-04-2005 (10 yrs)
    my query is, if I need 25 lakhs for her marriage at her 21 st age how much money I should invest yearly in SSA

    • Dear Daly,
      You can invest around Rs 50,000 per year. You may get around Rs 26 Lakh as maturity amount. (Assuming 9.1% rate of interest for 21 years, remember the rate of interest will not be the same)

      • Hi,
        But how, she is already 10 yrs and we have only 11 yrs left to invest. How can we calculate 21 years interest and get 26 lakhs? Pls clarify

      • Hi Sreekanth,
        But how? She is already almost 10 yrs now and we have only 11 yrs left to invest. Then how could we calculate 9.1 % interest for 21 yrs and maturity amount as 26 lakhs. Please clarify. I think we need only 11 yrs calculation.

        Waiting for your reply.

        • Dear Daly,
          I agree with you that there is still some confusion out there, regarding the term of SSA a/c.
          The govt gazette says, the account can be operated till 21 years from account opening date (it does not say, the term is linked to child’s age). You can make deposits for 14 years from account opening date.

          If you get a chance to visit any bank branch or post office branch, do share your experience here. It will help all of us. Cheers!

  • I Need a Clarification:
    1)If i open SSA account in feb 2015, either in Feb or mar 2015 if i deposit 1.5L .It will come under maximum deposit limit of SSA a/c for the 2014-2015 financial year or consider as 2015-2016 maximum limit.If it is consider for 2014-2015, then i can deposit maximum limit for 2015-2016 in SSA a/c.

    2)If my daughter got married before completion of 21 years of SSA ,whether she should close the account or can wait for maturity of SSA a/c (21 years).

    Please clarify my doubt.

    • Dear Subha,

      1 – Yes, you can deposit max contribution of Rs 1.5 Lakh in Feb / Mar 2015. This is considered for tax exemption for the financial year 2014-2015. You can also deposit Rs 1.5 Lakh for the coming FY 2015-16.

      2 – The account has to be closed by her after the marriage.

  • Dear shreekanth,
    U r suggestions r really valuable.. Appreciable
    I wants to know abt one thing is there facility of direct deduction of contribution amunt from salary.. Pay roll attach.
    As I m govt emploee my salary bank is Union bank of India…
    Pls reply

  • My baby’s birth on 03/02/2009
    I interested in deposit rs. 10000 per month
    So pl. Give information of mutual amount after 21 year and partly withdraw amount after 18 year
    My native Amreli district, Gujarat state

  • Hi
    I am having one doubt. If parent/guardian may death immediately after the 1st year premium. Does the child get what benefit under the scheme?
    If some or other reason the premium not paid subsequent 3 months due to illness what happen to the policy?
    Can you clarify this.

    • Dear Senthil,
      Please go through some of my previous replies regarding to your first query.
      It is not mandatory to contribute every month. (Kindly note that it is not a premium). The minimum contribution per year is Rs 1,000.

      • Hi Sreekanth,
        Thanks for your advice. Additional clarification,
        1. The point what i am asking is , pre-mature closure of the account is permitted. But what was the amount the child may get?Is there any penalty or some percentage only given back to A/c holder like that.
        2. Is online A/c opening and transaction is available?

        • Dear Senthil,
          1 : On Premature closure – The balance at the credit of the account shall be paid along with interest till the month preceding the month of premature closure of the
          account. No penalty is applicable.
          2 : As of now, online deposit facility is not available

            • Dear Senthil,
              I believe this scheme is available at Post office branches now.
              Based on few comments posted here, I think the scheme is not yet available in most of the reputed banks. Do check with your bank and let us know.

    • Dear Jyoti,
      Premature closure is allowed;
      1 – on the occurrence of an extreme event (in case of untimely demise of the a/c holder, girl child) (OR)
      2 – Where the Central Government is satisfied that operation or continuation of the account is causing undue hardship to the account holder, it may, by order, for reasons to be recorded in writing, allow pre-mature closure of the account (only in cases of extreme compassionate grounds).

  • Mrs. Reshma Jedhe wants to open the Sukanya Samridhi Savings account in the name of her girl’s child (1.10 years old) in April 2015. He wants to contribute Rs 1,000 every month for 14 years. He also wants to keep this account active till 21 years from the account opening date (or till Child’s age of 25 years). He wants to know, what could be the total approximate interest amount and total maturity amount that he would accumulate under SSA?

    • Dear Reshma,
      In this scenario, your total contribution will be Rs 1.68 Lakh (over a period of 14 years).
      The approximate interest amount can be around Rs 4.3 Lakh and the total approx maturity value can be Rs 6 Lakh.

  • I wanted to ask whether the amount is for is monthly or yearly e.g 1000 . do we have to pay it once in a year or every month.

    • Dear Arvind,
      The minimum contribution per year is Rs 1000 and the maximum is Rs1.5 Lakh pa.
      You can deposit the amounts as per your convenience (there is no restriction that they should be monthly once). You can deposit in multiple of 100s after depositing Rs 1k.

  • My daughter is 4 yrs old & 1 yrs means I can deposit for next years ….and get get the principal and interest at her 21 years of age…interest not given now and then?

    • Dear Atmaram,
      I did not get your question.
      Principal and interest is payable only when girl child attains 18 years (50 % of fund value can be withdrawn) and the remaining after the completion of 21 years from a/c opening date.

  • If suppose in sukanya samurridhi scheme, parents or guardian expire in road accident incase after 5 years , how will be account carried on? who will pay the money or how the child will get the money, what will be assurance ? as that time child might be school going.

    • Dear Sneha,
      There is a clause in the Govt’s Gazette, which says, if continuation of a/c is causing undue hardship to the a/c holder (girl child), the premature-closure of SSA account is possible. The account can be discontinued.

  • Hi…..my child born in Australia and she got overseas citizen of India card…. is she eligible for this scheme

    • Dear Ganesh,
      This scheme is governed by Post office Small Savings Scheme rules and I believe NRIs are not eligible to invest in these kind of SSS. (But in the official gazette, there is no clause about NRI’s eligibility)

  • Hi, what is the actual amount benefit from government to us??? or only the benefit of interest on our deposited amount is there???

  • After completing 21 yrs of child, Parent will have the rights to withdraw the amount, Or acct. holder can manage the account.. Because after 21 yrs who knows the daughter will think of her parents.

  • Sir if parent or guardian dead what is account position. Please give me reply as early as possible

    • Dear Kishore,
      Very good question.
      There is a clause in the official gazette, which says – “Where the Central Government is satisfied that operation or continuation of the account is causing undue
      hardship to the account holder, it may, by order, for reasons to be recorded in writing, allow pre-mature closure of the account only in cases of extreme compassionate grounds..”
      If the depositor (parent / guardian) is no more, a girl child may or may not contribute towards the scheme. It may cause undue hardship to her. The account can be closed prematurely.

  • sir,i have 2 girl child 1 of 10 years and a 7 years old i want to know that total 1.5 lacks is tax exemted or for second

    • Dear Gomathi,
      As of now the rate of interest offered on SSA is 9.1% (higher than that of PPF’s 8.7% for 2014-15), but there is no guarantee this will be maintained in future.
      Also, looks like the interest income is taxable, whereas PPF a/c interest income is tax exempted. (SSA interest income tax exemption point may be clarified during this budget session).
      Suggest you to wait till March. (If you want to open right now then you can consider PPF a/c)

  • Hi Swamy,
    I have a negative question. What happen of this scheme, incase girl child is no any more before the age of 18 or before 14 yrs completion of deposited money?

    Thanks,
    Anil

    • Dear Anil,
      In the event of untimely death of the account holder, the account shall be closed immediately on production of death certificate issued by the competent authority, and the balance at the credit of the account shall be paid along with interest till the month preceding the month of premature closure of the account , to the guardian of the account holder.

        • Dear Kavtha,
          Guardian can continue to deposit the amounts. If the account holder (girl child) is unable to continue the account, under extreme circumstances (like the one you have mentioned), may discontinue the account and can get back the accumulated funds.

  • Hi,

    I want to know that if we open this account of Rs. 5000 this financial year and later can we increase the deposit from 5000/ year to 10000/year or decrease to 2000/year?

    Regards,
    Venkatesh

    • Dear Amar,
      On SSA a/c – As of now, rate of interst is higher than PPF. But, looks like Interest income is taxable. (We may get clarity by this month end, hope so). Else it depends on what income tax slab are you in?
      PPF – It is a tax free investment.
      Suggest you to wait for few more days and then take a call.

  • Thanks for information.
    My question is Is we get tax exemption on balance amount of our account.( If we deposit Rs. 1000/- every month).

    • Dear Nitin,
      Very good question. Legally, the guardian/parent can open only one account in the name of a girl child, under SSA Scheme. As of now, I do not think there is any infrastructure (common database) is in place to track down multiple accounts 🙂
      May be in future Govt may come up the ways to track multiple a/c (remember these are long term saving a/cs, so lot of time left for them to implement these things) (May be based on depositor’s PAN no etc.,). Let see..

  • Whether we will get benifit for PPF & sukanya Scheme i.e 1.5 +1.5 lacs under 80C? or only 1.5L both put together.

  • Dear Friend,

    I understand that NRI can not invest as per rules,

    Any of my relation in India can invest for My NRI daughter?

    Please inform.

    Thanks & Regards,

    Guna

  • sir I have ppf account is there I tied up with this scheme which one best this or ppf

    • Dear Devasenapathy,
      As of now the rate of interest on SSA deposits is 9.1% and on PPF it is 8.7%. From interest rate point of view, Sukanya scheme is better. But remember that these interest rates will vary in future.
      Regarding income tax benefits – As of now PPF is better than SSA. The deposits made under Samridhi scheme are exempted from income tax under section 80c. The maturity amount withdrawal is also exempted from taxes. The only grey area is about ‘taxation of interest income.’ If this is also made as ‘tax free income’ then SSA can be better than PPF.

  • How oftenly can v credit the amount.can v have it on monthly basis as v have for RD scheme

    • Dear Varsha,
      Yes, you can deposit the contributions on a monthly basis. The minimum initial deposit is Rs 1000. After that deposits can be in multiple of one hundred rupees. The maximum allowed deposit(s) is Rs 1.5 Lakh in a single financial year. This limit is applicable for single deposit or multiple deposits.

    • Dear Ravi,
      It is practically impossible to list all the banks (with authorized branches details) here. As per scheme guidelines, the depositor can invest in this scheme in all the authorized branches of commercial banks. The best way to find out about ‘which bank branches are authorized,’ is to check with your bank at your location.

  • My daughter is 9 yrs old…means I can deposit for next 5 years ….and get get the principal and interest at her 21 years of age…interest not given now and then?

    I have already 1.5 l for 80 c….so this scheme will not be useful for me….unless the interest income is tax free…am I right?

    • Dear Mathi,
      As per my understanding, the contributions (deposits) can be made till the girl child attains 21 years (or) 14 years from the date of opening of the account, whichever is earlier. If you open an account now, you can make 12 deposits. The interest rate may not remain the same every year.
      As of now there is no clarity on taxation part with respect to ‘interest income.’

      • Dear Mathi,
        A small correction in the above reply…The contributions are allowed for 14 years from the date of a/c opening. You can deposit for 14 years (till your kid reaches 23 years). The account can be operated till the completion of 21 years from the date of a/c opening. But, you can’t continue operating the a/c after your kid’s marriage.

        • Ideally I should use the money @ 21 years…should not wait for 14 more years, if the child is 9 year or 10 years, they have to wait for till 23 or 24 years…And after 23 year or 24 years, is that amount can be withdrwan fully? Can you please clarify this?

          • Dear Swami,
            If you are depositing the monies on behalf of a 10 year old girl, you can withdraw 50% of the accumulated money once she turns 18, for education expenses. I believe it is not mandatory to contribute for all 14 years from a/c opening date. Also, she can withdraw the remaining fund as soon as she gets married.

          • I talked to postoffice folks on this…they clearly told that 14 years is the kids age (mean parents can deposit money till the child get the 14 years age, after that we cann’t deposit)…and @ 18 years, 50% can be withdrwan (its optional) and @ 21 year full can be withdrwan.

            • Dear Swami,
              Thank you for sharing your experience here.
              As of now, i can neither agree nor disagree with you.
              As per the Govt’s official Gazatte (attached at the end of the post), page no 4 under the ‘Deposits’ section, it is mentioned as ‘Deposits in an account may be made till completion of fourteen years, from the date of opening of the account.‘
              Regarding, Maturity of account – Visit page no 5, under closure on maturity it is given as, ‘The account shall mature on completion of twenty-one years from the date of opening of the account.’
              Since this scheme is new, there is still lot of confusion among the investors and also the bank/postoffice staff.

              If the point opined by the post office staff is right, we can look at it from another point of view – A parent of a 10 year old girl child can then get a chance to deposit only 4 installments. The main intention of the scheme is to generate good corpus for Girl’s education/marriage expenses, which may not be possible with such limited no of contributions. This is my personal opinion.

              I will update the post as soon as I find any official/formula communication on this.

  • I have four daughters one is 11 year old, 8,4,1 respectively so in which daughters name I should open the account? Please advise.

  • I think govt only thought about those people who don’t have internet, other way the rural people. How this plan will accumulate money for Marriage? The way our society spend in marriage this account will not be able to accumulate that amount. Parent can use this account as another option only.

    • Dear Santanu,
      I agree with you. These kind of plans will surely turn out to be chart-busters. Many Investors in rural India do not have easy access to various investment options (like equity,mutual funds etc). The intention behind this plan is good.
      There is no doubt that investments in these type of schemes will not give decent returns (inflation adjusted). But, some long term savings (investment) is better than nothing (atleast from rural investors point of view). What are your views?

  • Thanks for kind information. Plz share if any other information you have. Thanks again.

  • Thanks for all the information. Will shortly visit SBI for account opening, will share my experience and additional information if any.

    • Dear Reema,
      Wonderful! Kindly reconfirm with the bank staff about the income tax benefits that are available under this scheme. Do share your experience with us. Thank you and cheers!

  • Thanks Sreekannt,

    Very useful information.

    But would like to know that there is nothing mentioned in the document given by government that invested amount would be covered under 80c for tax exemption. Can you please provide me any other source for the confirmation of this thing?

    • Dear Dharmesh,
      Post office Saving Bank General Rules are applicable to this scheme too. The deposits to the tune of Rs 1.5 Lakh can be exempted from Section 80c.
      But there is no clarity regarding the taxation of interest income and maturity income.
      I checked with one of my friends who is a Chartered Accountant, he is also of the same opinion. Let us wait for few more days to get more details.

  • Dear sreekanth,

    Is this sukanya samridhi account can be opened any SBI/SBT/corporation bank branches in tamilnadu? will it really works on tax saving under 80C schemes? please reply for both Questions.

    • Dear Balasubramanian,
      Yes, you can open the account in the mentioned banks. But I believe only authorized branches are allowed to accept the account opening applicaitons. Check with you banks about which branches are accepting the deposits under SSA scheme. Kindly share your experience here (if you could open the account).
      The deposits contributed under SSA scheme are eligible for tax deduction under Section 80c. But there is no clarity regarding the tax implications on interest and withdrawals on maturity. We can expect some clarity from the upcoming budget session.

  • Hi Srikanth,
    Is NRIs can open this account on behalf of their Kids, who has other country’s citizen ship? As if now parents has Indian citizens. But in future they may get another country’s citizenship. Will it impact to claim the matured FD in future?

    • Dear Priya,
      Sukanya Samridhi scheme is governed by Post Office Savings Account Rules, 1981. As per RBI guidelines, a Non-Resident Indian (NRI) may not be eligible to invest in Small Savings schemes.

  • Which are the authorized banks. ?

    couple of weeks back, checked in Bank of Maharashtra.

    they clearly denied account opening in any of the government schemes

    • Dear Abhijeet,
      Though the Govt’s gazette related to this scheme was released in the first week of December 2014, its only in the last week of this month (21st jan,2015) the Finance ministry notified the interest rate on Sukanya Samridhi scheme.
      This might have been the reason to reject your account opening application by your bank. You may contact your bank now. If you still get the same reply from your bank, ask them about any other authorized branch (of same bank in your city/town) which can accept your application.
      Request you to come back and share your ‘account opening’ experience here! It might be useful for others too. Cheers!

  • 1. do the benefit of 80 C is additional – if not what is the use of this….??

    as normal person for whom scheme is draft take 80 C benefit in many ways to secure his life and future..if this is addition then only it is use ful….

    anand

  • Thanks a lot…this is very useful information.
    I have ques..Is this scheme available in Maharashtra ?
    Is this scheme is only for the people below poverty line ?

    • Dear Ragini,
      You can open the account in Maharashtra. Scheme has been made available across the country. Anyone who has a girl child (less than 10 years old) can open the account.

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