Central Government of India started Sukanya Samriddhi Yojana scheme in 2015 for the secured future of the girl child. Parents/legal guardians can open Sukanya Samriddhi Account (SSA) for a girl child who is under the age of 10 years. While the scheme matures after 21 years; the investment needs to be done for 15 years only. After 21 years, the maturity amount the girl child/parents will get includes investment amount and interest amount.

The minimum annual investment amount is Rs. 250 and maximum of Rs. 1,50,000. However there are cases wherein account is defaulted if the minimum deposit is not made, resulting Sukanya Samriddhi account closure.

So how to revive a closed Sukanya Samriddhi account?

Reopening of Sukanya Samriddhi Account is not very difficult. Parents will have to visit post office or the bank where the account was opened. You then need to reopen SSA account after filling a form. And at the same time, make payments which were missed along with a small penalty of Rs. 50 per year.

So, if your account was closed for 3 years then Rs. 150 will be the penalty along with Rs. 750 investment amount for the missed 3 years.

Benefits of Sukanya Samriddhi Yojana

• As on March 2024 the interest rate offered is 8.2% which is highest amongst the other government schemes.
• Most important is that, your money is completely secured/risk-free as the returns are guaranteed depending the amount invested.
• It works on the principal of compounding i.e. an investor earns interest on the principal amount along with the interest.
• Account can be opened at the any post office or authorized banks.
• Investors also benefit from tax exemption and can claim deduction of upto Rs. 1,50,000 in a year.
• The minimum amount that can be deposited is Rs. 250 only. And the maximum amount is Rs. 1,50,000.

Hi, I am Nikesh Mehta, owner and writer of this site. I’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business. I can be reached at [email protected].