The eligibility criteria for Sukanya Samriddhi Yojana (SSY) are as follows:
- The account can be opened by the parent or guardian of a girl child who is a resident Indian.
- The age of the girl child should be below 10 years on the date of opening the account.
- Only one account can be opened in the name of one girl child.
- A family can open only 2 SSY scheme accounts, i.e. one for each girl child.
SSY is a savings scheme that offers a high interest rate and tax benefits for the girl child’s education and marriage. The current interest rate for Q2 (July-September) FY 2023-24 is 8% p.a. The minimum deposit amount for an SSY account is Rs. 250 and the maximum is Rs. 1.5 lakh in a financial year. The deposits and the withdrawals are exempt from tax under section 80C and section 10(11A) respectively.