The Government of India has stressed the importance of a girl child under its initiative ‘Beti Bachao Beti Padhao’. Under this initiative, the Government has launched various schemes for the welfare and betterment of the girl child. The Sukanya Samriddhi Yojana (SSY) is one such scheme launched by the Government to promote savings for the future of the girl child.
The Sukanya Samriddhi Yojana is a fixed income saving scheme that can be chosen by parents of a girl child. This is a long-term saving scheme that runs for 21 years where parents make annual contributions to build a substantial corpus for their daughter. Since the return is guaranteed, the SSY scheme offers a secured corpus for the girl child’s higher education and/or marriage.
You can subscribe to the Sukanya Samriddhi Yojana scheme by opening an SSY account in the name of the girl child. This account can be opened either at a bank or at the nearest post office. The Reserve Bank of India has authorized 28 banks of India to offer individuals the facility of opening an SSY Account. So, here’s the Sukanya samriddhi yojana banks list offering Sukanya Samriddhi Account –
If you hold a savings account with any of these banks, you can open a Sukanya Samriddhi Yojana Account without any hassles and minimal paperwork. If you, however, don’t have a savings account with any of these authorised banks, you can open an SSY account with any of them. To open the SSY Account, there are two methods which are as follows –
Under this method of opening an SSY Account, you would have to visit the branch of the bank with which you want to open the account. At the branch, avail the SSY application form and fill in the details of your daughter. Submit the form along with the relevant documents and the amount of deposit. Once the documents and the submitted form are verified by the bank, the SSY Account will be opened.
The online method of opening the SSY Account is offered by many banks wherein you can apply for the account online through the bank’s website. Just visit the official website of the bank and fill up the SSY application form online. Make the deposit online through digital payment modes and the SSY account would be opened. If you have a savings account with any of these banks, you can log into your net banking account and open an SSY account from there also.
Whichever bank you choose, the following eligibility criteria should be fulfilled to open an SSY account –
Before you open an account with any of the authorized banks, here are some important aspects of the scheme which you should know about –
Q1. What is the SSY bank list?
The SSY bank list is the list of banks the scheme is offered in, and the banks are mentioned above.
Q2. What documents do I need to open an SSY account?
You will need the application form, birth certificate, guardians address proof, ID of the guardian, and Passport photos of the beneficiary.
Q3. Are there tax benefits under this scheme?
Yes. You will be eligible for Tax deductions under Section 80C for up to 1.5 lakhs.
Q4. Can I transfer from one post office to another?
Yes, you can transfer from one post office or bank to another.
Q5. What is the minimum deposit for the scheme?
The minimum deposit for the scheme is Rs.250.