Monday, September 4, 2017

Eligibility Criterion to Open Sukanya Samriddhi Yojna Account

Ever since Sukanya Samriddhi Yojna account has launched parents are very enthusiastic to open SSY account in the name of their daughter. Many of my friends have asked about whether they can open Sukanya Samriddhi account or not? Do it has some income criterion? I am currently outside India can I open Sukanya Samriddhi account? Can NRI open Sukanya Samriddhi account if daughter is Indian citizen etc. In this post, I will give you overview of who can open SSY account and who cannot by explaining eligibility criterion of Sukanya Samriddhi account.

Eligibility Criterion to Open Sukanya Samriddhi Account

In order to open Sukanya Samriddhi Yojna account with bank or post office, you must meet following eligibility criterion

1) You are parent or legal guardian of a girl child which is under 10 year of age.
The SSY account can be opened by the father, mother or legal guardian of a girl child from the birth of girl child till she attains the age of 10 years.

2) Only one account can be opened in the name of one girl child
A depositor (parent or legal guardian) can open and operate only one SSY account in the name of a girl child under the scheme rules. For example, if you have a daughter then you cannot open more than one Sukanya Samriddhi account in her name on the post office and bank, or different branches of a post office or with two different banks. SSY account is maintained at central place and doing so will get caught.

3) You can open more than one SSY account(maximum 3) if you have more than one daughter
In general, Parent or legal guardian of the girl child are allowed to open a maximum of two Sukanya Samriddhi account in the name of their two daughters, but in exceptional cases government also allow you to open a third SSY investment account. For example, you can open third SSY account in the name of girl child in the event of birth of twin girls as second birth or if the first birth itself results into three girl children.

In short, if you have two daughters you can open two SSY account for each of your daughters. In case, second birth is of twin daughter then you can open three SSY account.

So eligibility criterion to open Sukanya Samriddhi account is pretty much clear now, let's revise it once again :
  • Sukanya Samriddhi account can only be opened in the name of girl child
  • Girl child must be less than 10 years old. This age limit is strictly followed.
  • Only one SSY account for one girl child
  • For parents, generally two SSY account for two daughters and in exceptional case 3 SSY account for three daughters.
  • NRI cannot open SSY accounts.
Here is one of the advertisement from a post office to open Sukanya Samriddhi Yojna account, which clearly highlight main eligibility criterion. Also, interest rate is now revised and its now 9.2% :)

Eligibility criterion to open Sukanya Samriddhi Account

FAQ related to Eligibility Criterion of Opening Sukanya Samriddhi Account

Now, let me answer some of the frequently asked questions about eligibility criterion and opening of Sukanya Samriddhi account for benefits of my friend :

1) I am outside of India, Can I open SSY account?
If you are an NRI then you are not allowed to open SSY account, but in case only you are outside India and your wife and daughter is studying and staying in India, your wife can open SSY account on behalf or your daughter because they are not NRI.

2) Can I Open more than one SSY account in the name of my only daughter?
No, you can only open one and just one account with the name of a girl child. Trying to open multiple SSY account for you daughter at different post office branches or at different banks will not work because SSY account is maintained at central level.

3) I have two daughters, can I share one SSY account between them?
You cannot share SSY account but you can open two separate SSY account for each of your daughters. Though all other benefits e.g. tax benefit will only work for 1.5 lakh because that's the maximum limit of section 80C.

4) Where do I open SSY account?
You can open Sukanya Samriddhi Yojna account at a post office or any authorized bank. Currently it's only available to post office but it's not far away when the bank started offering SSY account. Both public and private sector banks are allowed to open SSY account at least on paper. You can find popular banks like ICICI, Axis bank, SBI and others on that list. My suggestion is you should open SSY account with banks because of all the benefits and convenience they provide over post office.

5) Can I open Sukanya Samriddhi Yojna account online?
No, banks are not yet allowed to open SSY account online. You need to visit your nearest branch of ICICI or SBI bank.

Here is the snippet from passbook of Sukanya Samriddhi account, which clearly highlights main eligibility criterion in Hindi :

Sukanya Samriddhi Account Eligibility Criterion Age limit

That's all about eligibility criterion of Sukanya Samriddhi Yojna account and who can open and who cannot. If you are a father of a girl child who is still under 10 year of age then go and open SSY account with a bank e.g. SBI or ICICI. It's one of the best gifts you can give to your daughter on her birthday. SSY account is secure, gives better interest rate and offer tax benefit for you as well. Just be cautious with the age limit of Sukanya account, so if your daughter is soon turning to 10, rush to post office or banks before its too late.


  1. I am inquiring about SSY, would you like to inform me that the Government Employees can open The SSY account to their Daughters ?

    1. Hello Naveen, I guess yes, haven't heard anything why they can't open. As per my knowledge, anyone who is citizen of India and fulfill the eligibility criterion given here can open SSY account for her daughter.

  2. Hi I have first 2 birth girl and already opened SSY accounts for both. my 3rd birth is boy now 4th birth is girl. can I open a SSY account of my 3rd girl?

    1. Hello Abhi, the SSY account is only limited to first two daughters, unless you get triplet or double.

  3. Hi,
    I’m Indian and my daughter is foreigner as she is born outside India,can I open ssy account

  4. I opened the account in Pune Post office in 2017.
    can I pay the next premiums in Mumbai ? as i shifted to mumbai.