Sukanya Samriddhi Account (SSA) scheme, meaning ‘girl child prosperity’, launched by Prime Minister of India January 22 last as part of ‘Beti Bachao, Beti Padhao’ campaign, has been introduced post offices in the state.
SSA can be opened in the name of a girl child any time from her birth till she attains the age of 10 years with a minimum deposit of Rs. 1000 and thereafter any amount in multiple of Rs. 100 can be deposited.
For one time, a girl child who has attained the age of 10 years prior to one year from the date of introduction of this scheme, is also eligible under the scheme.
The account can be opened in any post office or authorized branches of commercial banks across the country by producing birth certificate of the girl child.
A maximum of Rs. 1,50,000 can be deposited in a financial year.
The account holder girl child would be able to operate the account herself on attaining the age of 10 years.
The account would remain operative for 21 years from the date of opening of account or marriage of the girl child after attaining 18 years of age whichever is earlier.
To meet the requirement of higher education expenses of the account holder girl child, partial withdrawal of 50 % of the balance would be allowed after the girl child has attained the age of 18 years.
The provision of not allowing withdrawal from the account till the girl child attains the age of 18 years has been kept to prevent early age marriage of girls.
To motivate parents to open an account in the name of girl child and for her welfare to deposit maximum of their savings upto the prescribed limits, higher rate of interest @ 9.1 % is proposed to be given on the deposits on annually compounded basis with income tax concessions in this financial year.
Monday, May 4, 2026