Central Bank of India Sukanya Samriddhi Yojana

Features and Benefits of the Central Bank of India Sukanya Samriddhi Yojana

Some important features and benefits of the Sukanya Samriddhi Yojana are given below:

• Eligibility criteria:
  • The Central Bank of India Sukanya Samriddhi Yojana account can be opened by the parent or legal guardian of a girl child before she reaches the age of 10 years.
  • The account is operated by the parent or legal guardian until the girl turns 18.
  • Only one SSY account per girl child is allowed.
• Tenure:
  • A Central Bank of India Sukanya Samriddhi account matures after 21 years from the date of account opening.
• Deposit rules:
  • The Central Bank of India SSY account can be opened with a minimum deposit of ₹250 up to a maximum of ₹1.5 lakh in a financial year.
  • Deposits can be made for 15 years from the date of account opening.
• Partial withdrawal rules:
  • Once the girl child attains the age of 18 years or passes class 10, up to 50% of the eligible balance in the SSY account can be withdrawn for higher education or marriage.
• Interest rate:
  • The Central Bank of India Sukanya Samriddhi Yojana interest rate for the quarter 3, 2026-27 is 8.2% per annum.
  • The interest on an SSY account is compounded and credited on a yearly basis.
• Tax benefits:
  • Contributions up to ₹1.5 lakh in a year qualify for tax deduction benefits under Section 80C
  • The interest earned in the scheme and the maturity amount are also tax-free.
• Account continuity:
  • In case your Sukanya Samriddhi Yojana Central Bank of India account is defaulted due to missed deposits, you can reactivate the account by paying the penalty of ₹50 and the minimum deposit amount for each defaulted year.

Using the Central Bank of India Sukanya Samriddhi Yojana Calculator

You can use the Sukanya Samriddhi Yojana calculator to easily estimate the maturity amount you may receive in SSY. You just need to enter the following details in the calculator:

• The amount you want to invest annually.
• Your girl child’s age.
• The year you want to start investing;

Here is an example using the SSY calculator:

If you are planning to invest ₹70,000 each year starting from 2027 for 15 years in the scheme, assuming the SSY interest rate at 8.2% per annum, the calculator will show the following results:

• Total amount invested: ₹10.5 lakhs
• Total interest earned: ₹23 lakhs
• Total maturity amount in 2048: ₹33.5 lakhs

How to Open a Central Bank of India Sukanya Samriddhi Yojana Account?

You can open an SSY account at the Central Bank of India through its branches. Here is the step-by-step method to open the account:

• Step 1: Visit your nearest Central Bank of India branch and collect the SSY account opening form.
• Step 2: Fill in the form carefully and attach all the required documents.
• Step 3: Submit the application form along with the minimum deposit amount at the bank.
• Step 4: You will receive a passbook after your account is opened

Banks Offering SSY

SSY Calculators

Indian Overseas Bank Sukanya Samriddhi Yojana

IndusInd Bank Sukanya Samriddhi Yojana

Yes Bank Sukanya Samriddhi Yojana

Bank of India Sukanya Samriddhi Yojana

Kotak Bank Sukanya Samriddhi Account

Andhra Bank Sukanya Samriddhi Account

UCO Bank Sukanya Samriddhi Yojana

IDBI Bank Sukanya Samriddhi Yojana

Allahabad Bank Sukanya Samriddhi Yojana

Indian Bank Sukanya Samriddhi Yojana

Union Bank of India Sukanya Samriddhi Yojana

Axis Bank SSY (Sukanya Samriddhi Yojana)

PNB Bank SSY (Sukanya Samriddhi Yojana)

Bank of Baroda Sukanya Samriddhi Yojana

ICICI Bank Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana HDFC

SBI Sukanya Samriddhi Yojana

Expand

Indian Bank- Sukanya Samriddhi Yojana Calculator

Sukanya Samriddhi Yojana- Central Bank of India Calculator

Canara Bank- Sukanya Samriddhi Yojana Calculator

Bank of Maharashtra- Sukanya Yojana Calculator

Sukanya Samriddhi Yojana Calculator Bank of India

Sukanya Samriddhi Yojana Calculator - Union Bank

Sukanya Samriddhi Yojana Calculator-UCO Bank

Sukanya Samriddhi Yojana Calculator - State Bank of India

Sukanya Samriddhi Yojana Calculator – Punjab National Bank

Sukanya Samriddhi Yojana Calculator - Indian Overseas Bank

Sukanya Samriddhi Yojana Calculator - Bank of Baroda

Sukanya Samriddhi Yojana Calculator ICICI

Expand

Process to Open Sukanya Samriddhi Yojana Account

• Fill the account opening form obtained from the branch.
• Submit all the required documents along with the photo.
• Deposit cash.
• An individual can make the minimum contribution in cash, cheque or demand draft after opening the account

Documents Required to Open a Central Bank of India Sukanya Samriddhi Account

Here are the documents required to open an SSY account at the Central Bank of India:

• SSY account opening form (Form 1).
• Birth certificate of the girl child
• Passport-sized photos
• Address and identity proofs of parents or legal guardians.

Central Bank of India Sukanya Samriddhi Yojana Interest Rate

The following table shows the Sukanya Samriddhi Yojana interest rate for the last 10 years: