A savings scheme to promote the welfare and financial independence of girl children.





  1. The account can be opened by a natural or legal guardian of the girl child in any post office or in branches of authorized commercial banks. Click here for a list of authorized banks.
  2. The girl child can have only one SSY account.
  3. Each guardian is allowed  to open a maximum of two accounts for two different girl children and in special cases, three accounts, where the girl children are twins.
  4. The account has to be opened before the girl child turns 10. Since the scheme is relatively new, a girl child who has turned 10 in 2013-14 will also be allowed to open an account. Once the child turns 10, she is allowed to operate the account on her own.
  5. The current of rate of interest is 8.3% compounded annually and is subject to revision from time to time.
  6. The minimum annual deposit is ₹1,000 and the maximum is ₹ 1,50,000. If the depositor fails to make the annual deposit, he will be charged ₹50 to revive the account.
  7. Deposits can be made in a lump sum or in intervals. There is no limit on the number of deposits in a year.
  8. Annual deposits are required for 14 years from the date of opening the account.
  9. The account matures after 21 years of opening the account, unless the girl is married prior to the maturity date. A married woman is not allowed to continue operating the account.
  10. The holder of the account can opt for monthly interest payouts.
  11. A partial withdrawal, to the extent of 50% of the balance standing at the end of the preceding financial year is possible after the girl child attains the age of 18 years. This has been facilitated to cater to educational needs.
  12. If the account is not closed on the maturity date, it continues to earn interest as specified by the rules from time to time.
  13. Currently, the deposit is available for tax rebate under section 80C. The interest and maturity amounts are also tax free.
  14. Documents required by the guardian to open an SSY account are:
  • SSY account opening form
  • Birth certificate of the girl child
  • Identity proof
  • Residence proof