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

Core Insights - The Sukanya Samriddhi Yojana (SSY) is a government initiative aimed at encouraging families to invest in their daughters' futures, launched in January 2015 as part of the 'Beti Bachao, Beti Padhao' campaign [2] Group 1: Account Management and Features - More than 4.1 crore SSY accounts have been opened as of November 2024 [2] - Accounts can be opened by a legal guardian for girl children up to the age of 10, remaining under the guardian's control until the child turns 18 [3][5] - A family can open SSY accounts for a maximum of two girl children, with exceptions for multiple births [3][6] - The minimum yearly deposit is ₹250, and the maximum is ₹1.5 lakh per financial year [5] - Accounts can be opened in post offices and authorized banks, including SBI, HDFC Bank, and ICICI Bank [5] - Withdrawals are allowed for higher education, and premature closure is permitted if the girl marries after turning 18 [5] - The maturity period for the account is 21 years from the date of opening [5] - Deposits qualify for tax deductions under Section 80-C of the Income-Tax Act, and interest earned is tax-free under Section 10 [5] Group 2: Documentation and Eligibility - Required documents to open an SSY account include the birth certificate of the girl child, Aadhaar card, and PAN card of the guardian [5] - If the second birth results in girl twins or triplets, accounts can be opened for all daughters; however, if the first birth already resulted in multiple girls, no additional accounts can be opened for subsequent daughters [6] - The account is managed by the guardian until the girl child turns 18, allowing oversight of savings for education and future needs [7] - Upon turning 18, the account holder can take control of the account by submitting necessary documents [7]