Sukanya Samriddhi Account (Girl Child Prosperity Account) is a saving scheme of Government of India targeted at the parents of girl children.
The Sukanya Samriddhi scheme encourages parents to build a fund for future education and marriage expenses for their girl child. The scheme was launched by Prime Minister Narendra Modi on 22 January 2015 as a part of the Beti Bachao, Beti Padhao campaign.
Currently, SSY offers interest at a rate of 7.6% per annum. One can open a Sukanya Samriddhi Yojana Account in any authorised bank branch or a post office branch.
You can open a Sukanya Samriddhi Yojana Account in any authorised bank branch or a post office branch. You can also set it up online with the help of your net banking facility.
At present, neither authorised bank branches nor post offices allow for opening an SSY Account online. However, once the account is opened after submission of all the documents, one can set the standing instructions online.
Here's how you can open Sukanya Samriddhi Account:
· Fill out the SSY Account opening form
· Keep the documents ready along with photographs
· Pay the deposit amount (any amount between Rs. 250 and Rs. 1.5 lakh will do)
· You can give a standing instruction at the branch or you can set up automatic credit to SSY Account through Net Banking
Documents you need to open Sukanya Samriddhi Yojana Account are:
· SSY Account opening form
· Beneficiary’s birth certificate
· Address proof of the guardian or parents of the beneficiary
· Id proof of the guardian or parents of the beneficiary
Who is eligible to open the account?
If you are a parent or a legal guardian of a girl child aged less than 10 years.
How many accounts can you open?
Each account for up to two girl children can be opened. Three, in case of twins being born the second time.
How much can you deposit?
· Every Financial Year, a minimum of only Rs 1000 needs to be deposited to keep account operative.
· Maximum limit is 1.5 lakh for a financial year
· In the case of two daughters, the cumulative contribution cannot exceed Rs 1.5 lakh in one financial year
What is the tenure of the deposit?
21 years from the date you open the account.
What is the rate of interest on SSY deposits?
Currently, SSY offers interest at a rate of 7.6% per annum.
