Full formGovernment & Exams
SSYstands forSukanya Samriddhi Yojana
Full Form of SSY
What is SSY?
Sukanya Samriddhi Yojana (SSY) is a flagship government-backed savings scheme launched in 2015 as part of the Beti Bachao Beti Padhao campaign to promote the welfare and financial security of the girl child in India. Under this scheme, a parent or legal guardian can open an account in the name of a girl child below ten years of age at any authorised bank or post office across the country. The account matures after 21 years from the date of opening, and the accumulated amount can be used for higher education or marriage expenses of the girl. It offers one of the highest interest rates among small savings schemes, which is revised by the government every quarter. Deposits qualify for tax benefits under Section 80C of the Income Tax Act, making it a popular choice for tax-saving purposes. SSY has played a vital role in encouraging parents to invest in the future of their daughters and addressing gender imbalance in India. The scheme is frequently asked in the banking awareness and government scheme sections of competitive examinations.
SSY का फुल फॉर्म
सुकन्या समृद्धि योजना
Example
My father opened a Sukanya Samriddhi Yojana account for my sister when she was just three years old, and it will mature by the time she turns 24 and needs it for her higher education.
SSY — frequently asked questions
What is the full form of SSY?
SSY stands for Sukanya Samriddhi Yojana, a government savings scheme launched in 2015 for the welfare of the girl child in India.
Who is eligible to open an SSY account?
A parent or legal guardian can open an SSY account in the name of a girl child who is below ten years of age at any authorised bank or post office.
What is the maturity period and tax benefit of SSY?
The SSY account matures after 21 years from the date of opening, and deposits qualify for tax deduction benefits under Section 80C of the Income Tax Act, 1961.