Many people in India still search for “LIC Sukanya Yojana”, believing it is a savings or insurance plan launched by LIC for girl children.
The truth is different: there is no scheme called LIC Sukanya Yojana.
The actual, official scheme is Sukanya Samriddhi Yojana (SSY)—a Government of India savings plan for girl children, operated through Post Offices and authorised banks, including ICICI Bank
This article clears all confusion and explains the complete details of the scheme, benefits, interest rates, tax advantages, eligibility, maturity rules, withdrawal rules, and the step-by-step process to open a Sukanya Samriddhi Yojana account in ICICI Bank in 2026.
Is LIC Sukanya Yojana a Real Scheme? – The Complete Truth
The straight answer is: No. LIC does not offer Sukanya Yojana.
Official Scheme Name
Sukanya Samriddhi Yojana (SSY)
Launched under Beti Bachao Beti Padhao initiative
Who Operates This Scheme?
Post Offices
Government banks (SBI, PNB, Bank of Baroda, Canara Bank, etc.)
Selected private banks (including ICICI Bank, HDFC Bank, Axis Bank
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana is India’s highest interest and safest government savings plan for girl children.
It helps parents save for their daughter’s education and marriage in a secure, tax-free manner.
Key Features
Government guaranteed
The highest fixed interest in small savings schemes
Tax-free maturity
Long-term growth
Very low minimum deposit
Sukanya Samriddhi Yojana Interest Rate 2026
The interest rate for SSY is revised every quarter.
Latest Rate (2026): Approximately 8.2%–8.4% per annum
This rate is:
Higher than FD
Higher than PPF
100% secure and government-backed
Eligibility Criteria
To open a Sukanya Samriddhi account:
The girl must be an Indian citizen
Age must be 0 to 10 years
Only one account per girl child
A family can open maximum 2 accounts
(Exception: If twins or triplets are born)
Deposit Limits
Minimum deposit: ₹250 per year
Maximum deposit: ₹1.5 lakh per year
You can deposit for 15 years after opening the account
The account matures after 21 years
If you stop depositing, the account remains active with earned interest.
Tax Benefits
Sukanya Samriddhi Yojana offers the EEE (Exempt-Exempt-Exempt) tax status:
Deposit tax deduction under Section 80C (up to ₹1.5 lakh)
Interest earned is tax-free
Maturity amount is completely tax-free
This makes it one of the most tax-efficient savings schemes in India.
Withdrawal Rules
Partial Withdrawal
At age 18, up to 50% of the balance can be withdrawn for:
Higher education
Admission fees
Hostel fees
Other academic expenses
Full Withdrawal / Maturity
At 21 years, the account matures.
Full balance + interest goes to the girl child’s account.
Premature Closure (Allowed Only In Certain Cases)
Death of the account holder
Life-threatening disease
Marriage after 18 years (with proof)
Benefits of Sukanya Samriddhi Yojana
Highest Guaranteed Returns
Better than bank FD, RD, post office MIS, and PPF.
Government-Backed Safety
Zero risk. Principal and interest are assured by the Government of India.
Long-Term Compounding
21-year maturity → wealth creation for the future.
Perfect for Girl Child Education & Marriage
Tax-Free Wealth
No tax on interest or maturity.
Required Documents to Open SSY
To open a Sukanya Samriddhi account in ICICI Bank or any other bank:
Girl child’s birth certificate
Parent/guardian Aadhaar card
Parent’s PAN card
Address proof (Aadhaar, voter ID, passport)
Passport-size photos
Initial deposit amount
How to Open Sukanya Samriddhi Yojana Account in ICICI Bank (2026 Step-by-Step Guide)
Many people prefer private banks like ICICI due to better service and digital facilities.
Here is the complete process:
1) Visit the Nearest ICICI Bank Branch
Sukanya Samriddhi Yojana cannot be opened online in any bank as per 2025 rules.
You must visit a physical branch.
Ask at the help desk:
“I want to open a Sukanya Samriddhi Yojana account”
2) Fill the SSY Account Opening Form
The form includes:
Child’s details
Guardian details
Deposit amount
Nomination
Bank staff will help if needed.
3) Submit KYC Documents
Provide:
Girl child birth certificate
Parent Aadhaar + PAN
Photographs
They will verify and attach documents
4) Make the First Deposit
You can begin with ₹250 to ₹1.5 lakh.
Deposit modes accepted:
Cash
Cheque
Online transfer to the account after it is created
5) Get the Passbook
ICICI Bank will issue an SSY passbook, which contains:
Account number
Child’s name
Guardian’s name
Deposits & interest details
Maturity date
Keep this passbook safe.
6) Deposit Yearly (Online/Offline)
After the account becomes active, you can deposit:
Through ICICI mobile banking
Net banking
Standing Instruction (auto payment)
Cash at branch
7) Track the Maturity
The account matures after 21 years.
You will receive:
Principal amount
Total accumulated interest (tax-free)
Example Calculation
If you deposit ₹3,000 per month (₹36,000/year) for 15 years:
Total Investment: ₹5.4 lakh
Expected Maturity Value: ₹10–11 lakh (depends on interest rate)
This is the best safe return scheme for daughters.
Sukanya Samriddhi Yojana is one of the safest and highest-yielding financial plans for girl children in India.
ICICI Bank allows easy account opening with better customer experience and digital payment facilities.
If you are planning for your daughter’s education or marriage, SSY is one of the most reliable and tax-free investment options in 2026.