SUKANYA SAMRUDHI YOJANA ALL INFORMATION

Sukanya Samrudhi Account and Rules

 1.  Parents can open an account in the name of 2 daughters, if the daughters are twins or three, they have to show a certificate from the hospital and then they will be included in the scheme.

 .  Age limit –

 This account can be opened at the age of 10 and after the age of 10 the girl herself will be responsible for her account.  Only one account can be opened in the name of a daughter. The depositor (guardian) will be a person who will deposit money on behalf of a little girl.

 .  An account cannot be opened for a child above 10 years of age under this scheme.

 .  Sukanya Samrudhi Yojana has been started all over India and hence this account is transferable to any parent. In this situation, the account holder can operate the account in any part of India but the account holder or his parents / guardians have to show proof of transfer.  So for account transfer, post office or bank can impose a penalty of Rs.100.

.  ₹ 1000 is set to open an account.  It is mandatory to deposit at least Rs.1000 per year.  If this amount is not deposited within a year then a penalty of ₹ 50 will be levied.

 .  The account holder can withdraw 50% of the pre-adult amount for their marriage or higher education at the age of 18.

 .  In this case, the account will be closed when the depositor is not able to deposit the amount in the account.

.  Lock in Period – Sukanya Samiti can deposit money up to 15 years from the date of account opening.  No deposit is required until the account matures.  This account will run until the marriage of 21 years or daughter.

 .  If you transfer money from the post office to the post office, it will be free.  But if you transfer from post office to bank or then, you will have to spend Rs 100 which is to be done only once in a year.

 10.  If an accident occurs and the daughter dies, the amount deposited will be returned to her parents with interest.

 Documents required to open an account

 1.  Birth certificate of a daughter issued by a hospital or government official.

 .  Proof of residence of the daughter’s parents or legal guardian such as passport, driver’s license, electricity or telephone bill, voter’s identity card, ration card or any other certificate issued by the Government of India which mentions residence.

 A PAN card or high school certificate is also valid for opening an account.  The account holder can transfer his account anywhere in India in future.

STATE BANK OF INDIA

VIJAYA BANK

ORIENTAL BANK OF COMMERCE

PUNJAB AND SINDH BANK

UNION BANK OF INDIA

UCO BANK

UNITED BANK OF INDIA

PUNJAB NATIONAL BANK

INDIAN OVERSEAS BANK

INDIAN BANK

IDBI BANK

ICICI BANK

CANERA BANK

CENTRAL BANK OF INDIA

DENA BANK

CORPORATION BANK

ALLAHBAD BANK

ANDHRA BANK

BANK OF INDIA

BANK OF BARODA

AXIS BANK

SYNDICATE BANK

Method of deposit

 1. Cash

 3. Demand draft to carry the check

 .  Net Banking

 .  Passbook

 1.  Upon opening the account, the account holder gets a pass book from the bank, in which his date of birth, account number, name, address, date of account opening, deposit etc. are written.

 .  At the time of depositing rupee, the passbook will have to be deposited at the post office or bank. In addition, at the time of taking interest or at maturity, you have to submit the passbook.

 .  If you want to create a duplicate passbook, you will be charged 50.

Interest rate

 SSY ensures a bright future for the daughters of India.  The interest rate in this scheme is kept very high so that the interest of the people remains.  Interest rates are not fixed.  It will also change over time.  Initially, the interest rate was 9.1 per cent, but in March 2015, it was raised to 9.2 per cent for the financial year 2015-16.  In the financial year 2016-17, the interest rate was fixed at 8.6 per cent.  The interest rate is calculated on the 10th of every month.

Download Sukanya Samriddhi Account Opening Form

 The Sukanya Samrudhi Yojana form can be downloaded from here.

 Benefits of Sukanya Samrudhi Yojana

 • Opening a Sukanya Samrudhi account can be beneficial for all parents;  Some of its advantages are as follows

  Easy to open – This account can be opened by the child’s parent / legal guardian and the process of opening this account is easy.

 • Low Deposit Amount – Rs.1000 has been fixed for opening an account. So that parents can easily open an account and the minimum deposit amount has been kept at Rs.1000 per annum.

 • High Interest – The highest interest rate is fixed in this scheme so that the account holder can benefit.

  Easy method of deposit – Account holder can deposit money in any way, such as cash, check, demand draft, online etc.

  Account operation – The daughter can decide for herself who will run her account till the age of 10.  After the age of 10 he can operate the account himself.

 Tax Exemption – The scheme is fully tax free under Section 80C of the Income Tax Act.

  Payment for child only – As per the provisions of this scheme, the maturity amount will be paid only to the daughter in whose name the account has been opened.  So as to ensure that the money is used only by the daughter.

 • Pre-Adult Withdrawal – When the daughter is 18 years old, 50% of the amount can be withdrawn for her education or marriage if required.

 Transfer – The account holder can also transfer the account if it is transferred from one place to another.