Central Bank of India Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana Central Bank of India is a government-backed scheme, which is specifically designed for the girl child. The Sukanya Samriddhi Yojana Scheme was launched by the government of India under the campaign ‘Beti Bachao Beti Padao’. Under this scheme, the parent or legal guardian of the girl child can open an account in the name of their daughter until she reaches the age of 10 years.

Read more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
  • 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*

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

The Sukanya Samriddhi Yojana Central Bank of India is one of the most remunerative investment options available in the market that secures the financial future of the girl child and also provides the advantage of tax savings.  Let’s read further to know in detail about Sukanya Samriddhi Yojana Central Bank of India.

Central Bank of India Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8.2%

Yearly Investment

You can invest maximum upto ₹1,50,000

Girl's Age

Maximum age should be 10 years
Yrs

Start Year

Investment term is 21 years
Total Investment
Total Interest
Total Investment

Total Interest

Maturity Year

Maturity Value

Amount you will get
Explore Tax Saving Funds

Features of Central Bank of India Sukanya Samriddhi Yojana

Here are some of the salient features of the scheme.

  1. Account Opening Criteria

    The sukanya samirddhi yojana account can be opened by the parent/legal guardian of the girl child before she reaches the age of 10 years.  The subscriber will need to make a minimum deposition of Rs.1,000 to open the account. A maximum of two accounts can be opened for each girl child in a single family. Exceptions are made in the case of triplets.

  2. Tenure

    The tenure of Sukanya Samriddhi Yojana account is 21 years or until the marriage of the girl child after the age of 18 years. The account can be kept active for a maximum tenure of 21 years from the date of opening the account.

  3. Age Criteria

    The parents of the girl child can open an SSY account in the name of the girl child until she attains the age of 10 years. Thus the girl child should be at least 10 years or at a minimum while opening the account.

  4. Deposit Criteria

    The Sukanya Samriddhi Yojana Central Bank of India account can be opened with a minimum deposition of Rs.250 and an individual can contribute up to a maximum of Rs.1.5 lakh in a financial year. Deposits can be made through cash or cheque.

    People also read: Child Education Plan

  5. Eligibility Criteria

    The scheme is only valid for the girl child who is a resident Indian. In case the girl child acquires the status of NRI post opening the Sukanya Samriddhi Yojana Central Bank of India, then the legal guardian/parent of the girl child will need to inform the Central bank of India about the changes within the tenure of the month and based on which the account will be closed.

  6. Partial Withdrawal

    Once the girl child attains the age of 18 years, she can withdraw 50% of the accumulated fund from Sukanya Samriddhi Yojana Central bank of India for higher education.

  7. Account Reactivation

    To ensure the continuity of the account, the individual should make a minimum contribution of Rs.250 for at least 14 years.  In case the subscriber fails to contribute to the account SSY Central Bank of India will be deactivated. However, it can be revived by paying fees of Rs.50 along with the minimum contribution.

How to Open Sukanya Samriddhi Yojana in the Central Bank of India?

The Central Bank of India provides a hassle-free and easy process to open an SSY account. Here are the important documents that should be kept handy while opening the SSY account.

  • Birth certificate of the girl child under whose name the account is being opened.

  • Address proof of parents/legal guardian.

  • Identity proof of parents/legal guardian.

At the time of the deposition of money, the bank will furnish the passbook. The passbook will contain all the details about the account holder as well as abiout the withdrawals and deposits made from the account.

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.

Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Benefits of Central Bank of India Sukanya Samriddhi Yojana Account

Here are some of the benefits of having an SSY account with the Central Bank of India.

  1. High-Interest Rate

    As compared to any other investment options available in the market, Sukanya Samriddhi Yojana offers a high-interest rate of 7.6%.

  2. Additional Interest

    If the accumulated sum in the account is not withdrawn after the completion of 21 years, then it will still earn compound interest at the rates mentioned in the scheme.

  3. Tax Exemption

    This is another major benefit offered by Sykanya Samirddhio Yojana Account, the individual can avail of tax benefit under EEE format i.e. exempt, exempt, exempt. This means that the contribution made towards the scheme, the interest earned on the contributed amount and the maturity proceeds are all tax exempted U/S 80C of the IT Act.

  4. Reasonal Deposit Amount

    A minimum deposit of Rs 250 is required to open an account.

  5. Transfer Option

    In case an individual decides to relocate, then he/she can transfer the account to any authorized bank or post office in the new location by contacting the bank in a simple and hassle-free way.

*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
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3

Child plans articles

Recent Articles
Popular Articles
Child Education Planner

05 Feb 2024

Ensure your child's dreams come true with a Child Education
Read more
Indian Bank Education Loan

16 Jan 2024

Indian Bank stands tall as a reliable partner in your academic
Read more
Education Loan for Abroad Studies

16 Jan 2024

Pursuing international education is a dream for many aspiring
Read more
Education Loan Without Collateral

16 Jan 2024

An Education Loan Without Collateral is a financial solution
Read more
Canara Bank Education Loan

15 Jan 2024

Canara Bank Education Loan is a comprehensive financial solution
Read more
Top 12 Government Schemes for Girl Child
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
Sukanya Samriddhi Yojana Calculator
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that aims to create a corpus to
Read more
Prime Minister Schemes For Boy Child
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
Best Child Investment Plans to Invest in 2024
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL