The Sukanya Samriddhi Yojana is a savings scheme launched in 2015 by Prime Minister Narendra Modi under the Beti Bacho Beti Padhao campaign. The main agenda of the plan is to encourage parents of a girl child in India to build a corpus for her future education and other expenses.
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Create wealth for child’s aspirations
Tax Free maturity amount+
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Insurer pays premium in case of loss of life of parent
Create wealth for child’s aspirations
Tax Free maturity amount+
12+ plans available
Nothing Is More Important Than Securing Your Child's Future
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
Yearly Investment
You can invest maximum upto ₹1,50,000Girl's Age
Maximum age should be 10 yearsStart Year
Investment term is 21 yearsHere are some highlights and benefits related to Sukanya Samriddhi Yojana Scheme that will help you understand the policy better.
It is a program initiated by the Government of India.
Parents/guardians with a daughter below the age of 10 years can opt for a Sukanya Samriddhi Yojana account.
The policy tenure is 21 years or until the girl child is married after the age of 18.
7.6% is the rate of interest compounded annually.
Account-holders can benefit from income tax exemption under Section 80C of the Income Tax Act.
Any amount from Rs.250 to Rs.1.5 lakh can be deposited in the account every year.
An account can only be opened in the name of the child and not of the legal guardian.
Only two Sukanya Samriddhi Yojana accounts are allowed per family.
High rate of interest
Income tax savings
Lock-in period
Partial withdrawals
Guaranteed maturity benefits
If you already have a Sukanya Samriddhi Yojana account, you can check your account balance both online and offline through electronic medium and physical passbook, respectively. Let us discuss both ways in detail so that it is easy for you to know your Sukanya Samriddhi Yojana account balance.
Currently, over 25+ banks are offering the Sukanya Samriddhi Yojana scheme. To know your account balance offline, all you need is a passbook of the account provided to you by your bank. For account balance inquiries, you have to visit your bank branch and get the passbook updated regularly.
In the world of digitization and COVID, nobody wants to step outside their houses. The best way to be updated about your Sukanya Samriddhi Yojana account balance is by registering online.
Here are some simple steps to be followed to know your Sukanya Samriddhi Yojana account balance online:
Step 1: Apply for login credentials. Ask your respective bank to provide you with Sukanya Samriddhi Yojana account credentials. Once you receive the details, you will be able to operate your Sukanya Samriddhi Yojana account online.
Step 2: Login with the credentials. The provided user name and password need to be entered into the internet banking portal of the bank.
Step 3: After login, the homepage for Sukanya Samriddhi Yojana will appear. You can simply check your SSY balance there. The balance is also displayed in the dashboard column of the account.
Step 4: Note that through this portal, you can only view your Sukanya Samriddhi Yojana account balance. No transactions can be made through this portal.
These are some straightforward steps to check out your account balance anytime, anywhere, and without any hassle.
If you find the Sukanya Samriddhi Yojana to be a fairly simple scheme that is easy for you to maintain, you should know that the buying process is equally hassle-free. If you wish to buy one for your daughter now, it can be done in a few minutes. Note that the scheme can be purchased both online and offline. All you have to do is follow the steps highlighted below.
People also read: Child Education Plan
There are two ways to open a Sukanya Samriddhi Yojana offline, viz. with the bank or at the post office.
Visit the post office or the bank.
Fill in the Sukanya Samriddhi Yojana application form with the details of your daughter.
Take birth certificate, aadhar card, pan card, and all other necessary documents of the child with you.
After verification, the account will be opened, and the passbook handed over to the parent / legal guardian of the girl child.
This way is considered much more effortless than visiting the bank branch. To open your Sukanya Samriddhi Yojana account online, all you have to do is:
Check the official website of the bank you wish to have an account with.
Fill in all the required information of the child and the parents in the form as required.
Attach scanned copies of all the mentioned certificates and address proofs.
Click on the submit button, and your Sukanya Samriddhi Yojana is good to go.
It is entirely up to you how you choose to open your child’s Sukanya Samriddhi Yojana account.
People also read: Sukanya Samriddhi Yojana Calculator
The RBI has approved 28 banks that can offer the Sukanya Samriddhi Yojana scheme. Here is a compiled list for your reference that will help you open the account quickly.
Allahabad Bank
Andhra Bank
Axis Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
ICICI Bank
IDBI Bank
Indian Bank
Indian Overseas Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab & Sindh Bank
Punjab National Bank
State Bank of Bikaner and Jaipur
State Bank of Hyderabad
State Bank of India
State Bank of Mysore
State Bank of Travancore
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
It is evident from the above discussion that the Sukanya Samriddhi Yojana is a very easy-to-manage scheme for any parent. With minimal premiums and attractive benefits, this scheme makes for a decent investment towards safeguarding the financial future of a girl child.
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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