How to Open Sukanya Samriddhi Account (SSY) Online, Documents

Downloading the Sukanya Samriddhi Account Opening Form | Establishing an SSY Account Online | Sukanya Samriddhi Account Interest Rate and Online Payment | Sukanya Samriddhi Account Opening Form | Sukanya Samriddhi Yojana (SSY), a small savings initiative created exclusively for women, is supported by the Indian government. This program allows an adult, such as a parent or other responsible adult, to open an account in a girl’s name up until the age of ten.

Sukanya Samriddhi Yojana: What is it?

The Sukanya Samriddhi Yojana (SSY) scheme encourages parents or guardians to save away funds for the future education and marriage expenses of their female children. It is a part of the “Beti Bachao – Beti Padhao” (BBB) project of the Indian government. It is commendable that the government is working to change how people perceive girls.

The SSY account can be opened in post offices and some banks with specific designations. In addition, SSY accounts offer higher interest rates compared to other small savings programs and income tax benefits through Section 80C deductions for up to Rs 1.5 lakh.

LIC Kanyadan Policy 

Who Can Open a Sukanya Samriddhi Account?

• A girl child’s natural or legal guardian is permitted to open an SSY account in her name from the moment of her birth until she turns 10 years old.
• An account can only be opened by a depositor in the name of the girl child.
• The natural or legal guardian of a girl child may open two accounts for a total of two daughters.
• One may open a third account in the name of a girl kid in the event of the birth of twin girls, as a second birth, or if the first delivery resulted in three girl children.

Characteristics of a Sukanya Samriddhi Account

• The annual interest rate on an SSY account is 7.6%. (effective July 1, 2021, and ending September 30, 2021).
• The bare minimum deposit into an SSY account is Rs. 250.
• The annual maximum that can be deposited into each SSY account is Rs. 1.5 lakh.
• Deposits may be made in any number, both monthly and annually.
• Tax advantages are offered for annual deposits up to Rs. 1.5 lakh under Section 80C.
• Deposits could be made in the SSY account up until the conclusion of the 15-year period beginning on the account’s opening date.
• The account matures after its 21-year term has ended. When a girl child submits an application and provides proof of her identity, domicile, and citizenship, she is given the remaining funds from the SSY, plus interest.

Kanya Sumangala Yojana

Documents Required to Open an SSY account

• Girl child’s birth certificate
• Parental or guardian photo identification
• evidence of parental or legal guardian address
• picture of the parent and child

Process in Steps to open Sukanya Samriddhi Account

• Fill out the form.
• Provide the supporting paperwork and photos.
• Invest money (Minimum of Rs 1,000).
• After the account has been opened, deposits may be made with cash, cheques, or demand drafts.

Maximum number of accounts	Up to two girl children or three in case of twin girls
The minimum and the maximum amount of deposit	Min amount is Rs 1,000 for the initial deposit with an annual ceiling of Rs 1,50,000 in a financial year
Tenure of the deposit	21 years from the date of opening of the account
Interest Rate	7.6% for Q2 of FY 2021-22
Tax deduction	Under 80C of the IT Act, 1961

How Can I Open a Sukanya Samriddhi Account?

You can open a Sukanya Samriddhi Yojana (SSY) account at a Post Office location or a bank that takes part in the initiative. Follow these procedures in order to open the account.

• Visit the bank or post office location where the account will be opened.
• Fill out the application form completely, and include any supporting documentation.
• Make the first payment in cash, cashier’s check, or demand draft. The amount might be anywhere from 250 to 1.5 lakh rupees.
• The bank or post office will process your application and payment.
• After processing, your SSY account will be opened. To mark the opening of the account, a passbook will be created for it.

Kanya Vivah Yojana

How can I fill out the Post Office Sukanya Samriddhi Yojana form?

To complete the form, follow these instructions:

• The postal branch’s name should be typed.
• Specify the account number for any Post Office savings accounts you may already have.
• Add the postal address and the Post Office branch under “To The Postmaster.”
• Paste the applicant(s)’ photo(s) to the right.
• Substitute “I/We” for the applicant’s name, followed by Sukanya Samriddhi Yojana.
• Considering that it only applies to new PO savings accounts, disregard the information in the box.
• In the “Account Holder Type” box, check the relevant account type.
• For help figuring this out, ask the Post Office employees.
• Nothing special about the “Account Type” field.
• Tell us how much money you plan to deposit in the newly opened SSY account as well. Include the sum in both words and numbers.
• Choose the method of payment, such as cash, cheque, or DD. All checks or demand drafts should have a number and a date noted on them.
• Provide the applicant’s name, gender, Aadhaar number, PAN, address, and other pertinent information in the table as it is requested.
• The applicant(s) must sign their names at the bottom of Page 1 to attest that they have read and approved the whole document.
• Please give information in section 5 on page 2 if you would like to set up standing instructions to pay for the SSY account.
• Check the square box next to SSA to ensure that no further SSY accounts have been opened in the depositor’s name.
• After adding the date, create the signature.
• Fill out the nomination details.
• Get the signatures of two witnesses if the petitioner cannot read or write.
• Include the date, the place, and the name of the signer after the nomination section.

How to Open Sukanya Samriddhi Account Online?

As of the right moment, there is no online application or account opening process for the Sukanya Samriddhi Yojana.

Where can I Register for the Sukanya Samriddhi Yojana?

The Sukanya Samriddhi Yojana does not currently have an online application or account opening process.

• State Bank of India
• Allahabad Bank
• Andhra Bank
• Punjab and Sind Bank
• Bank of Baroda
• Canara Bank
• Bank of India
• Bank of Maharashtra

• Corporation Bank
• Central Bank of India
• Indian Overseas Bank
• Dena Bank
• Indian Bank
• UCO Bank
• Syndicate Bank
• United Bank of India
• Punjab National Bank
• Union Bank of India
• Oriental Bank of Commerce
• IDBI Bank
• Vijaya Bank
• Axis Bank
• ICICI Bank

Kanyashree Prakalpa

How do I Pay for the Online Sukanya Samriddhi Yojana?

You must first download the IPPB app to your smartphone in order to make online payments to your SSY account. Via this software, you can program automatic online deposits of a specified amount into your SSY account. Here is the full procedure:

• Send funds to the IPPB account from your bank account.
• Choose the Sukanya Samriddhi Yojana account from the DOP Products list on the IPPB app.
• Enter your SSY account number and the DOP customer ID.
• Decide on the number of installments, their length, and the payment amount.
• IPPB will notify you once the payment procedure has been successfully set up.
• Each time the app transmits money, a notification will be sent to you.

Which bank offers the greatest Sukanya Samriddhi Yojana account opening options?

You are able to open an SSY account with any of the partner institutions. It will be more convenient for you to open the SSY account there if your present bank is one of the participating banks. The participating banks are:

• State Bank of India
• Allahabad Bank
• Andhra Bank
• Punjab and Sind Bank
• Bank of Baroda
• Canara Bank
• Bank of India
• Bank of Maharashtra
• Corporation Bank
• Central Bank of India
• Indian Overseas Bank
• Dena Bank
• Indian Bank
• UCO Bank
• Syndicate Bank
• United Bank of India
• Punjab National Bank
• Union Bank of India
• Oriental Bank of Commerce
• IDBI Bank
• Vijaya Bank
• Axis Bank
• ICICI Bank

How should the Sukanya Samriddhi Yojana proof be submitted?

You must personally travel to the Post Office or a bank facility where you submitted your SSY application in order to present the supporting documentation and proofs. The following papers must be presented in tangible form:

• birth certificate for a female child
• proof of the guardian’s residence and identification.
• Whenever many girl children are born in the same birth order, a medical certificate is necessary.
• any further paperwork that the post office or banks may require.

Sukanya Samriddhi Yojana Interest Calculator?

The lowest balance for the calendar month, or from the fifth day of the month to its end, is used to calculate the interest on the SSY account. The interest shall be credited once at the conclusion of each Fiscal Year.

A = P(1+r/n)^nt

Here

• P = Initial Deposit
• r = Rate of interest
• n = Number of years the interest compounds
• t = Number of years
• A = Amount at maturity

How frequently can investments be made under the Sukanya Samriddhi Yojana?

An SSY account may receive a single payment every fiscal year or payments in smaller, more frequent amounts. You must make a minimum payment of Rs. 250 every fiscal year and follow this rule for at least 15 years in order to keep the account active and functional.

You can select any time period that works best for you if you wish to pay your deposits in installments. There is no cap on the amount of deposits you can make each month or each fiscal year.

Sahara Refund Portal

How does the Sukanya Samriddhi Yojana work?

You must send the passbook for your SSY account as well as the correctly filled-out withdrawal form to the bank or Post Office branch where the account is housed.

To make a claim or to withdraw it early, you must meet specific criteria, such as those for the costs of the bride’s wedding or the costs of the female child’s higher education.

When the account reaches maturity, the money will be delivered to the girl kid who is the account holder.

In a different circumstance, you might close the account before five years have gone since it was started and then only be qualified to get your deposit money:

• Following the demise of the account holder.
• a problem that AC owners may die from.
• The account’s guardian, who oversaw it, passed away.

How can the Sukanya Samriddhi Account be opened at the post office?

• Locate the Post Office that is most convenient for you.
• Fill out the application with all the required information.
• Provide all necessary evidence and supporting documents with the application form.
• Make the initial down payment in cash, by check, or by demand draft.
• The Post Office is where you can turn in your application and payment. You will receive a passbook once your SSY account has been set up.

How is the Sukanya Samriddhi Yojana Transferred?

To transfer your SSY account from the Post Office (PO) to a bank, abide by following instructions:

• Visit the PO branch where it is kept to view the account. The girl youngster does not need to visit the PO branch because the guardian can finish the process.
• You must let the PO executive know that you intend to transfer the SSY account.
• Submit the completed account transfer form, the passbook, and the KYC paperwork. The executive will close the account at your request.
• Now go to the bank where you intend to hold your SSY account.

What kind of money will I receive from the Sukanya Samriddhi Yojana?

Your SSY account’s maturity amount will be based on your yearly contributions. You may also withdraw 50% of the deposit amount before the girl child turns 18 to pay for either wedding expenditures or educational costs.

How can I check the balance of my Sukanya Samriddhi Yojana account?

A passbook will be issued once the SSY account has been opened at a bank or post office. By visiting the bank or PO branch where the account is kept, you can get the most recent information on the account balance listed on the passbook.

How is the Sukanya Samriddhi Yojana statement downloaded?

In some banks, you cannot access SSY account information online. Check to see if this service is provided by the bank where your account is maintained. If yes, request your password and login details from the bank representative so you can access your SSY account online. To access the bank’s online banking system, use the login details the bank executive gave. The homepage or dashboard will display the account’s balance.

Sukanya Samriddhi Account FAQs