What is Sukanya Samriddhi Yojana account and how to open it

Are you interested to know about the Sukanya Samriddhi Yojana account? Would you like to know how to open Sukanya Samriddhi Yojana account? Who is eligible for this etc.? If yes, read the article which gives you brief info about it. Central Government offers this account for the girl children under 10 years. Other details are given below.

Sukanya Samriddhi Yojana account is to get the benefit by India's girl children who is under 10 years while opening the account and the parent or legal guardian can open the above subject account for their girls for future benefits from this scheme. The account was launched by current PM Narendra Modi in 2015. This article would help you for its awareness of the scheme in case if you are unaware.

How to open Sukanya Samriddhi Yojana account online
Image courtesy: Slidshare

Central Government has given authorized to few Banks and Post offices to register and process on this. If you would like to apply and open Sukanya Samriddhi Yojana account then find some more detail on this.

Eligible girl children's parent or legal guardian can proceed to respective Post office or authorized Bank and submit the required documents to them in order to open it in a simple steps.

Who is eligible to open Sukanya Samriddhi Yojana account?
  • A girl child of below 10 years.
  • Max two girl children in a family unless twin girls.
  • One girl child shall open just one account overall regardless of different branches.

There are few terms and condition from the Government to open the subject account. Here they are.

What are the documents to be submitted to open a Sukanya Samriddhi Yojana account?

  • SSY account opening form to be obtained from the respective Bank or Post office to fill and submit.
  • Birth certificate of the girl child to be submitted.
  • ID proof.
  • Residence proof.
  • All the documents submitted shall match the KYC guideline from the RBI.
  • Copy to be given to authority after showing the original documents.

List of few Banks name for opening Sukanya Samriddhi Account:
  • Allahabad Bank.
  • Andhra Bank.
  • Axis Bank Limited.
  • BoB – Bank of Baroda.
  • BoI – Bank of India.
  • Bank of Maharashtra.
  • Canara Bank.
  • CBI – Central Bank of India.
  • ...and more.

Sukanya Samriddhi Yojana Account features and benefits:
  • The Passbook will be given to parents or legal guardian once the above account is opened.
  • Ministry of Finance announced an interest rate of 8.4% on the amount saved, though interest rate can be changed time to as per the order from MoF.
  • Minimum Rs. 1,000 can be deposited in a financial year.
  • Maximum Rs. 1,50,000 can be deposited in a financial year.
  • Investment can be done up to 14 years of age from the date of opened the account for the scheme.
  • The amount deposited in this scheme will get mature when she become 21 years age.
  • Partial amount can be withdrawn when she becomes 18 years age for the higher education purpose.
  • Complete Income Tax exemption under Section 80C.

Sample letter format to Bank to open or settle (on mature) with Sukanya Samriddhi Yojana Account will be published soon.

There are few more do's and don'ts from the scheme. You can get the complete detail or FAQ from respective branches.

Article by Hafeezur Rahman
Hafeezur Rahman has joined ISC in 2009 and he is a Job Editor at ISC since 2010, he also a Blogger. Hafeez continue to contribute in various sections of ISC and its sister sites like Techulator, NewRecruitments & Goaspider etc. He is a renowned feature writer & social enthusiast. He loves to write in a simple manner and share his visionary write-ups with the readers on the topics related to his field of interests and different niche. All his write-ups have been popularly read & shared by global readers.

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Author: Umesh22 Aug 2019 Member Level: Diamond   Points : 3

An informative article about the Sukanya Samriddhi Yojana along with all the details of opening the account in Post Office.

I feel this is one of the flagship scheme of the Govt to empower the girl child by reserving a good part of her parent's money in a scheme related to her well being. There is a good rush of people for this scheme as interest offered is also lucrative. Govt is also benefited in turn by the scheme as it has mopped up good funds which can be utilized for the mega projects on the anvil. Govt should bring more such schemes which are in one way helping the society to improve in certain areas related to women empowerment or employment, potential growth etc.

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