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How To Open Sukanya Samriddhi Account with HDFC Bank?

One of the banks providing the service to open a Sukanya Samriddhi account is HDFC Bank. With an 8.6% rate of interest, tax free maturity and interest and tax deductions available under Section 80C of the Income Tax Act, 1961, single families with girl children below the age of 10 years, are queueing up to open a Sukanya Samriddhi Account. It is among the small savings schemes that the government introduced. It provides financial assistance for a girl’s schooling or marriage. The aim of this scheme is to support girls with a brighter life and thus inspire the female ratio across the country. This scheme, as per its name, is intended solely for girls and offers financial assistance aimed at completing higher education or satisfying marriage requirements. If you have been thinking about opening this account too, then here’s all that you need to know about it.




You can open a Sukanya Samriddhi Yojana Account in any authorised bank branch or a post office branch. You can also set it up online with the help of your net banking facility.

What is Sukanya Samridhi Account?

The Sukanya Samriddhi Account is designed to provide a bright future for your girl child. It offers a high interest rate of 7.6% and tax benefits under 80c.

Features of Sukanya Samridhi Yojana?

  • Attractive interest rate of 7.6%, that is fully exempt from tax under section 80C.
  • Minimum Rs. 1,000 can be invested in one financial year
  • Maximum investment of Rs. 1,50,000 can be made in one financial year
  • If the minimum amount of Rs 1000/- is not deposited in any financial year , a penalty of Rs 50/- will be charged
  • Deposits in an account can be made till completion of 14 years, from the date of opening of the account
  • The account shall mature on completion of 21 years from the date of opening of the account, provided that where the marriage of the account holder takes place before completion of such period of 21 years, the operation of the account shall not be permitted beyond the date of her marriage
  • Passbook will be issued to customers.
  • Withdrawal Facility
    • To meet the financial requirements of the account holder for the purpose of higher education and marriage, account holder can avail partial withdrawal facility after attaining 18 years of age.
    • If the beneficiary is married before maturity of account, account has to be closed.

Eligibility criteria for Sukanya Samridhi Yojana




  • If you are a parent or a legal guardian of a girl child aged less than 10 years.
  • A depositor can open and operate only one account in the name of a girl child under the scheme rules.
  • Natural or legal guardian of a girl child are allowed to open the account for two girl children only.

Documents you need to open Sukanya Samriddhi Yojana Account are:

  • SSY Account opening form
  • Beneficiary’s birth certificate
  • Address proof of the guardian or parents of the beneficiary
  • Id proof of the guardian or parents of the beneficiary.

How to open a Sukanya Samriddhi Yojana account with HDFC Bank?

  • Fill out the SSY Account opening form
  • Keep the documents ready along with photographs
  • Pay the deposit amount (any amount between Rs. 250 and Rs. 1.5 lakh will do)
  • You can give a standing instruction at the branch or you can set up automatic credit to SSY Account through NetBanking.

How many accounts can you open in Sukanya Samriddhi Yojana?

Each account for up to two girl children can be opened. Three, in case of twins being born the second time.

How much can you deposit Sukanya Samriddhi Yojana (SSY)?

You can deposit a minimum of Rs. 250 up to Rs. 1.5 lakh in a financial year.

What is the tenure of the deposit Sukanya Samriddhi account?

21 years from the date you open the account.

What is the rate of interest on SSY deposits?

The rate of interest offered on Accounts opened between October 1, 2018 and 31, December 2018 is 8.6%.

How to open a Sukanya Samriddhi Account online with HDFC Bank?

Presently, neither authorised bank branches nor post offices allow for opening an SSY Account online. But once the account is opened after submission of all the documents, you can set the standing instructions online.




Do note that if deposit is not made every year, the account will fall under ‘Account under default’. The account can be reactivated by paying a fine of Rs.50 per year that you defaulted on making a deposit. The reactivation can happen until 15 years from the account opening.

Looking to open a Sukanya Samriddhi Yojna Account for your loved one right now? Contact your closest HDFC Bank Branch now.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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