Axis Bank SSY

Introduction

The Axis Bank Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme introduced under the Beti Bachao Beti Padhao initiative to secure the financial future of girl children. Axis Bank offers the facility to open and manage an SSY account with attractive benefits, competitive interest rates, and tax exemptions.

Key Features of Axis Sukanya Samriddhi Account

Government-backed scheme under the Ministry of Finance.
High-interest rate, revised periodically by the government.
Minimum deposit of just Rs. 250 per year.
Maximum deposit limit of Rs. 1.5 lakh per year.
Tenure of 21 years, with deposits required for only 15 years.
Partial withdrawal facility is available after the girl turns 18 years.
Triple tax benefit under Section 80C of the Income Tax Act.
Flexible deposit options (monthly, quarterly, or annually).
Only one account per girl child and a maximum of two accounts per family (exceptions apply in case of twins/triplets).

How to Open a Sukanya Samriddhi Yojana Account in Axis Bank?

Opening an SSY account in Axis Bank is simple. You can do it by visiting the nearest branch with the required documents.

Stepwise Process to Open an SSY Account

Visit Axis Bank: Locate the nearest Axis Bank branch.
Collect the SSY application form: Available at the branch or download it online.
Fill out the form: Provide accurate details such as the girl child’s name, date of birth, parent/guardian details, and nominee information.
Attach required documents: Birth certificate of the girl child, ID & address proof of parent/guardian, and recent passport-size photographs.
Make an initial deposit: Minimum Rs. 250 (recommended higher amount for better savings growth).
Apply: Once verified, the bank will issue the passbook for the SSY account.

You may also want to know the Pradhan Mantri Awas Yojana List 2025

Benefits of Sukanya Samriddhi Yojana in Axis Bank

1. Minimum Deposit of Just Rs. 250

Encourages savings from a minimal investment.
Ensures financial security with consistent deposits.

2. Helps to Meet Financial Needs

Aids in covering higher education costs.
Provides financial stability for marriage expenses.

3. Triple Tax Benefits

Tax deduction under Section 80C up to Rs. 1.5 lakh per annum.
Interest earned is tax-free.
The maturity amount is fully exempt from tax.

4. Competitive Interest Rates

Higher interest rates compared to savings accounts and fixed deposits.
Rate subject to change as per RBI guidelines.

5. A Deposit Is Only Needed for 15 Years

The scheme matures in 21 years, but deposits are only required for the first 15 years.
Funds continue to accrue interest even after deposits stop.

You may also want to know the List of Banks Offering SSY

Axis Bank Sukanya Samriddhi Yojana Account vs Other Savings Schemes

Feature	Sukanya Samriddhi Yojana	Fixed Deposit	PPF
Interest Rate	Higher (Revised quarterly)	Moderate	Moderate
Tenure	21 years	5 – 10 years	15 years
Tax Benefit	Section 80C + Tax-free maturity	Section 80C (Interest taxable)	Section 80C + Tax-free maturity
Purpose	Girl child savings	General savings	Long-term savings

Conclusion

The Axis Bank Sukanya Samriddhi Yojana is an excellent savings scheme for securing a girl’s future with long-term financial planning. With high-interest rates, tax benefits, and government security, the scheme is an ideal choice for parents looking to invest in their daughter’s education and marriage. By opening an SSY account in Axis Bank, you can conveniently manage your deposits and ensure a bright financial future for your child. If you meet the eligibility criteria, consider enrolling in this beneficial scheme today.