How it works & FAQs
The math behind the numbers, plus answers to the questions we hear most often.
Who can open an SSY account?
A parent or legal guardian can open the account for a girl child. Maximum one account per girl child and a maximum of two accounts per family (three in case of twins/triplets on the second birth). The girl must be under 10 years of age at account opening.
How long do I need to deposit?
Deposits are mandatory only for the first 15 years from the date of opening. The account then continues to earn interest for the remaining 6 years (years 16–21) without any further deposits. This makes SSY unique — you invest for 15 years but your money compounds for 21 years.
What is the EEE tax status of SSY?
SSY is one of the few fully EEE products: Exempt at investment (80C up to ₹1.5L), Exempt on interest (tax-free throughout), Exempt at maturity (full withdrawal tax-free). The other common EEE product is PPF.
Can I make partial withdrawals?
Yes — after the girl turns 18, up to 50% of the balance as of the end of the previous financial year can be withdrawn. This can be used for higher education or marriage expenses. Full premature closure is also allowed at marriage after age 18.
What are the deposit limits?
Minimum deposit is ₹250 per year; maximum is ₹1,50,000 per year. Deposits can be made in a lump sum or in multiple instalments (subject to limits). If minimum deposit is missed in a year, a ₹50 penalty applies and the account is treated as irregular.