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Sukanya Samriddhi Yojana: Girl Child Savings Scheme
July 19, 20266 min read
Sukanya Samriddhi Yojana: Girl Child Savings Scheme
Introduction
Sukanya Samriddhi Yojana (SSY) is a small savings scheme launched as part of the Beti Bachao, Beti Padhao (BBBP) campaign on January 22, 2015, by Prime Minister Narendra Modi. It is a government-backed savings instrument designed specifically for parents of girl children, offering high interest rates and tax benefits to encourage savings for the girl child's education and marriage expenses. As of 2024, SSY has over 4 crore accounts with total deposits exceeding ₹1.5 lakh crore.
Scheme Objectives
| Objective | Description |
|---|---|
| Promote savings for girl child | Encourage long-term savings culture for daughters |
| Financial security | Provide a financial corpus for higher education and marriage |
| Tax benefits | Offer triple tax exemption (EEE - Exempt, Exempt, Exempt) status |
| Reduce gender bias | Counteract preference for sons by creating financial incentives for daughters |
| Banking habit | Inculcate formal banking and savings habits in families |
Key Features
Eligibility
| Criteria | Details |
|---|---|
| Beneficiary | Girl child (up to 10 years of age from date of account opening) |
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