Sukanya Samriddhi Account Balance 2025

2. Online method: With the advent of digitalisation, the SSY balance can now be checked online as well through the account statements. The steps mentioned below have to be followed to know the SSY account balance:

Step 1: Apply and collect the login credentials of the Sukanya Samriddhi account from the respective bank. However, it should be noted that all the banks have not started offering this facility as of now. Thus, you will be able to enjoy this facility only if the bank offers the facility.

Step 2: These login credentials can be used to log in to the internet banking portal of the bank.

Step 3: After logging in to the account, you can go to the homepage and check the balance there. It might be displayed on the dashboard of the account as well.

Step 4: It should be kept in mind that this process will only give you the access to view the balance. You will not be able to make any transactions through this portal.

For more information, Check out related articles: Sukanya Samriddhi Yojana Calculator, Sukanya Samriddhi Yojana Age Limit, Sukanya Samriddhi Yojana Post Office & SBI Sukanya Samriddhi Account

With the idea of helping the girl child, Sukanya Samriddhi was launched by the Indian Government which has a current interest rate of 7.6% (effective from April 2020). You can check your SSY account balance from time to time using the account passbook that is available both online and offline, and has a record of your transaction details.

On 23 July 2018, the criteria for minimum annual deposit for the Sukanya Samriddhi Yojana account has been revised to Rs.250 from the earlier amount of Rs.1,000. Also the interest rate for the October-December quarter is 8.2%.

Things to Know about Sukanya Samriddhi Account

1. Sukanya Samriddhi account can be opened by making a minimum deposit of Rs. 250 and maximum deposit of Rs. 1.5 lakh. The Tax benefits on Sukanya Samriddhi account can be availed based on the deposited amount.
2. The account can be opened by parents or legal guardian on behalf of their girl children.
3. The maximum age of a girl child needs to be 10 years for opening this account.
4. The account can be opened by downloading the common SSA account opening form released by the Reserve Bank of India or collecting the account opening form available in banks or post offices.
5. The filled application form should be followed by your KYC documents, proof of birth of your girl child, photo ID (both you and your child) and 2 photographs of your girl child.
6. The amount received as maturity benefits form Sukanya Samriddhi account is free from income tax.
7. The duration of a Sukanya Samriddhi Account is 21 years.
8. The account allows premature withdrawal when a girl child completes 18 years.
9. The account has a lock-in period of 8 years, excluding the entry age which is 10 years.
10. The account provides a relaxation of 1 year for girl children born between the period of 2nd December, 2003 and 1st December, 2004. They are eligible to open Sukanya Samriddhi account by 1st December, 2015.
11. The account holder receives tax benefits on the deposits made towards the account. Also, maturity benefits offered by the account is non-taxable.

So far,more than 20 banks have been authorized by the Government of India to open Sukanya Samriddhi accounts.

Tax Benefits on Sukanya Samriddhi Yojana

Introduced in 2015 by Prime Minister Narendra Modi, the Sukanya Samriddhi Yojana is a savings scheme that is focused on the welfare of girl children in the country. The tax-free savings scheme with a luring interest rate, provides the perfect financial assistance for the future of girl children.

With an interest rate fixed at 8.2%, significantly higher than other savings schemes such as PPF (7.1%) and saving and fixed deposits (4-6%), the biggest advantage of the saving scheme is its triple E (Exempt, Exempt, Exempt) status, that offers account holders complete tax exemption.

Apart from the PPF, the Sukanya Samriddhi Yojana is the only saving scheme under section 80C that enjoys the triple E tax exemption status. It means that the deposits, proceeds, the accrual interest rate amount and the maturity amount in this scheme are tax exempted. The only drawback of the scheme is the limit an account can hold, which is curtailed to Rs.1.5 lakh.

Transfer of Existing Sukanya Samriddhi Account

Those holding Sukanya Samriddhi Account can transfer their accounts anywhere in India if they are re-locating, or feel they want to transfer SSY account from a post office to a bank or from one bank to another. The procedure is pretty simple. One can transfer their account from a post office to any post office or to any bank that falls under the ambit of the Reserve Bank of India (RBI) - anywhere in India.

Here are the steps you need to take to transfer an existing Sukanya Samriddhi account:

1. You first need to visit the post office holding your account with your updated passbook and KYC documents. Presence of the girl child during the transfer is not required.
2. Submit your KYC documents and surrender your Sukanya Samriddhi account passbook. Let the executive know that you are closing the account in the post office and wish for the account to be transferred to a bank.
3. The executive would then close your account and give you an application of transfer to be provided at the bank. He will also brief you on the necessary documents required for the transfer.
4. Visit the bank you wish the account to be transferred to and submit the transfer application given to you by the post office executive.
5. For proof of identification and address submit your KYC documents.
6. The bank executive will then hand you a new passbook which will state the outstanding balance from the previous account.
7. The bank will then activate your account in due time. From there you can continue the process of making contributions for the welfare and future of your girl child.

Loan Against SSY Account

With regard to taking loans against the Sukanya Samriddhi Account, like people do in other savings schemes such as the PPF and so on, taking a loan against SSY is not an option as of now. Having said that, a guardian can make partial withdrawals from SSY account after the girl has reached the age of 18. The withdrawals should be made for the benefit of the girl child only and withdrawals can be up to 50% of the total accumulated contribution. The withdrawal can be used for the girl's higher education, marriage, etc..

How to Exit the Sukanya Samriddhi Account?

Step 1: You have to visit the post office in which you have an account, with the updated passbook and your KYC documents.  

Step 2: Submit the documents and also surrender your account passbook. You will have to inform the executive that you want to close your account and transfer to a bank.  

Step 3: The executive will close the account and you will get the application of transfer which you need to give to the bank.  

Step 4: Visit the bank and submit the transfer application.  

Step 5: For proof of identification and address, you will have to submit your KYC.  

Step 6: You will get a new passbook which will have the outstanding balance from your account.

Step 7: The bank will then activate the account.