Can you open two Sukanya Samriddhi accounts if you have two daughters? Key highlights & FAQs answered

As the Centre's Sukanya Samriddhi Yojana (SSY) enters its 10th year in 2025, we look at some of the most frequently asked questions (FAQs) about the scheme, such as how many children a family can open accounts for.

More than 4.1 crore Sukanya Samriddhi accounts have been opened, as of November 2024, according to a PIB release. Launched in January 2015 as part of the ‘Beti Bachao, Beti Padhao’ campaign, the scheme encourages families to invest in their daughters' futures and foster a culture of inclusion and progress.

Sukanya Samriddhi Yojana: Key highlights

According to the National Savings Institute (NSI) and the PIB release, SSY accounts can be opened by a legal guardian for girl children up to the age of 10. These accounts remain under the guardian's control until the child turns 18.

Key features of the Sukanya Samriddhi Yojana:

• Minimum yearly deposit: ₹250; maximum: ₹1.5 lakh per financial year.
• An SSY account can be opened in the name of a girl child till she attains the age of 10 years.
• Only one account can be opened per girl child. If grandparents or others open an account, control will be handed to the legal guardian, and duplicate accounts will be closed.
• Accounts can be opened in post offices and in authorised public and private banks, including the State Bank of India (SBI), HDFC Bank, ICICI Bank, among others.
• Withdrawal is allowed for higher education of the account holder.
• Premature closure is allowed if the girl marries after turning 18.
• Accounts can be transferred anywhere in India between post offices and banks.
• Maturity period: 21 years from the date of account opening.
• Deposits qualify for deduction under Section 80-C of the Income-Tax Act.
• Interest earned is tax-free from I-T under Section 10 of the I-T Act.

What documents are required to open Sukanya Samriddhi Yojana account?

To open an SSY account, the guardian must submit Form-1 with:

• Birth certificate of the girl child 
• Aadhaar card and PAN card of the guardian (for identity and residence proof)

How many SSY accounts can be opened in one family? Can you open two accounts for two daughters?

As per SBI's clarification, a family can open SSY accounts for a maximum of two girl children.

However, exceptions apply in cases of multiple births:

• If the second birth results in girl twins/triplets, accounts can be opened for all daughters. 
• If the first birth already resulted in multiple girl children, no additional accounts can be opened for subsequent daughters, even if they are twins/triplets. 

To put it simply:

• If you have one girl child and the second birth is of girl twins or triplets, you can open accounts for all.
• If your first birth already includes multiple girl children (twins/triplets), the second birth, even if a single girl or twins/triplets, will not be eligible for the SSY account.

Sukanya Samriddhi Yojana: Who manages the account?

The account is managed by the guardian until the girl child turns 18. “This allows the guardian to oversee the savings and ensure that the funds are utilised effectively for the child’s education and future needs,” the PIB release noted.

Upon turning 18, the account holder can take control of the account herself by submitting the necessary documents.