Financial planning for children is a serious responsibility for every parent. In India, where education and marriage expenses continue to rise, parents need reliable ways to save. Government-backed savings schemes help families build a secure future, and one of the most popular among them is the Sukanya Samriddhi Accounts for two daughters Introduced under the “Beti Bachao, Beti Padhao” campaign, this scheme focuses exclusively on the girl child.
Many parents often ask: Can you open two Sukanya Samriddhi Accounts if you have two daughters? The answer is yes—but with some rules. Let’s explore the details, highlights, and FAQs so you can make informed choices for your children’s future.
What Is Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana (SSY), launched in 2015, is a small savings scheme supported by the Government of India. It encourages parents to save systematically for their daughters’ education and marriage.
This scheme offers:
- Attractive interest rates
- Tax benefits under Section 80C
- Secure long-term growth opportunities
Since the government guarantees the returns, SSY stands as one of the safest investment options for parents.
Can Parents Open Two Accounts for Two Daughters?
Yes. Parents can open one SSY account for each daughter, as long as they follow these rules:
- Eligibility: The daughter must be below 10 years old when the account is opened.
- Number of Accounts: A parent or guardian can open a maximum of two accounts—one for each girl.
- Special Case: If twin or triplet daughters are born after the first child, parents can open three accounts.
This rule allows families to provide equal financial security to both daughters.
Key Features of the Sukanya Samriddhi Yojana
Let’s look at the most important features of SSY step by step:
1. Minimum and Maximum Deposit
- Minimum annual deposit: ₹250
- Maximum annual deposit: ₹1.5 lakh
This range makes the scheme affordable for families with different financial strengths.
2. Tenure of the Account
- You can deposit for 15 years from the date of opening.
- The account matures after 21 years or at the daughter’s marriage, whichever comes earlier (after she turns 18).
3. Attractive Interest Rate
For 2025, the SSY interest rate is 8.2% per annum (compounded annually). This rate ranks among the highest for small savings schemes.
4. Tax Benefits
- Deposits qualify for deduction under Section 80C (up to ₹1.5 lakh).
- Interest and maturity proceeds are completely tax-free.
- SSY provides an EEE status (Exempt-Exempt-Exempt), making it highly tax efficient.
5. Partial Withdrawal
Parents can withdraw up to 50% of the balance for their daughter’s higher education once she turns 18 years old.
6. Premature Closure
You can close the account only in specific situations, such as:
- Death of the account holder
- Severe medical or financial hardship
How to Open Two Sukanya Samriddhi Accounts
If you have two daughters, follow these steps to open accounts for both:
- Select a Bank or Post Office – Most nationalized banks and post offices offer SSY accounts.
- Get the Application Form – Download it online or collect it from the branch.
- Fill Separate Forms – Complete one form for each daughter since every account is unique.
- Submit Documents – Provide:
- Daughter’s birth certificate
- Parent’s/guardian’s ID proof (Aadhaar, PAN, Passport, etc.)
- Address proof (utility bill, Aadhaar, etc.)
- Passport-size photographs of parent and child
- Deposit the First Amount – Pay at least ₹250 to activate each account.
Benefits of Opening Two Accounts for Two Daughters
When you open SSY accounts for both daughters, you enjoy several advantages:
- Equal Security – Both daughters get equal financial protection for education and marriage.
- High Returns, Low Risk – SSY offers guaranteed returns at competitive rates.
- Tax Efficiency – Parents can maximize Section 80C benefits while keeping funds safe.
- Savings Discipline – The lock-in period motivates families to save regularly.
FAQs About Sukanya Samriddhi Yojana
1. Can both parents open SSY accounts for the same child?
No. Only one account per child is allowed.
2. What if the firstborn are twin daughters?
Parents can open two accounts for both. If another daughter is born later, they can also open a third account.
3. Do I need to deposit every year?
Yes. You must deposit at least ₹250 every year to keep the account active. You can revive an inactive account by paying the pending deposit plus a small penalty.
4. What if parents stop contributing?
The account will continue earning interest on the balance, but no new deposits will be accepted.
5. Can NRIs open SSY accounts?
No. Only resident Indians can open SSY accounts.
6. Can grandparents open accounts?
Only parents or legal guardians can open accounts. Grandparents can contribute money, but the account must stay in the name of the parents or guardian.
7. Can parents withdraw early for marriage?
Yes, but only after the girl turns 18, and you must provide proof of marriage.
Example: How Two SSY Accounts Grow
Suppose you open two SSY accounts—one for each daughter.
- Annual deposit for Daughter A: ₹1 lakh
- Annual deposit for Daughter B: ₹1 lakh
- Interest rate: 8.2%
- Deposit period: 15 years
At maturity, each account can grow to around ₹40–45 lakh, depending on future rate revisions. Combined, both accounts can provide around ₹80–90 lakh, enough to cover higher education and marriage costs comfortably.
Why Parents with Two Daughters Should Choose SSY
SSY goes beyond just saving money. It empowers families to support their daughters equally and securely. Parents who open two accounts ensure both daughters have the same financial backing to pursue education and dreams without compromise.
Final Thoughts
Yes—you can open two Sukanya Samriddhi Accounts for two daughters. In the case of twins or triplets, you can even open three. With its high interest rate, strong tax benefits, and government guarantee, SSY remains one of India’s most reliable and rewarding savings schemes.
If you have two daughters, don’t wait. Open two accounts and give both children a strong, equal financial foundation for their future.
For more insights on women-focused initiatives, check out our blog on Empowering Women in 2025: New Government Schemes Shaping India’s Future.
