How to Check Your Sukanya Samriddhi Yojana Account Balance Online?

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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A Brief Overview of Sukanya Samriddhi Yojana

Here are some highlights and benefits related to Sukanya Samriddhi Yojana Scheme that will help you understand the policy better.

  1. Highlights

    • 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. 

  2. Benefits

    • High rate of interest

    • Income tax savings

    • Lock-in period

    • Partial withdrawals 

    • Guaranteed maturity benefits

Sukanya Samriddhi Yojana Account Balance

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.

  1. Offline

    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.

  2. Online

    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.

Opening A New Sukanya Samriddhi Yojana Account

  1. Offline

    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.

  2. Online

    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.

Banks That Offer Sukanya Samriddhi Yojana

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.

  1. Allahabad Bank
  2. Andhra Bank
  3. Axis Bank
  4. Bank of Baroda
  5. Bank of India
  6. Bank of Maharashtra
  7. Canara Bank
  8. Central Bank of India
  9. Corporation Bank
  10. Dena Bank
  11. ICICI Bank
  12. IDBI Bank
  13. Indian Bank
  14. Indian Overseas Bank
  15. Indian Overseas Bank
  16. Oriental Bank of Commerce
  17. Punjab & Sindh Bank
  18. Punjab National Bank
  19. State Bank of Bikaner and Jaipur
  20. State Bank of Hyderabad
  21. State Bank of India
  22. State Bank of Mysore
  23. State Bank of Travancore
  24. Syndicate Bank
  25. UCO Bank
  26. Union Bank of India
  27. United Bank of India
  28. Vijaya Bank

Wrapping up

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.  

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

“Tax benefit is subject to changes in tax laws. Standard T&C apply.”

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