Indian Bank Sukanya Samriddhi Yojana

In the Indian banking domain, the Indian Bank is one of the oldest banks. The Indian Bank offers diverse services to customers. One of the most sought after options provided by the bank is to secure the bright future of the girl child by simply opening the Sukanya Samriddhi Yojana Indian Bank account.

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

Indian Bank Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8%

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

The Indian Bank is among those prominent banks in India that has been authorized to open the Sukanya Samriddhi Yojana accounts by the RBI. The Sukanya Samriddhi Yojana account has been introduced by the Indian government to inculcate the savings habit in the families where there is a girl child born to provide financial security.

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

Features of Indian Bank Sukanya Samriddhi Account

The following are the key features of opening the Sukanya Samriddhi Yojana Indian Bank account:

Opening of the SSY Account

The Indian Bank Sukanya Samriddhi Yojana Account can be easily opened by the parent or guardian of the girl child.

Age

The Sukanya Samriddhi Yojana Account can be opened for the girl child until ten years of age.

Tenure

The tenure for the Indian Bank Sukanya Samriddhi Yojana Account is 21 years.

Deposit Amount

The Sukanya Samriddhi Yojana Indian Bank account can be opened with a minimum sum of Rs 250. Besides, the depositor has the option to increase the deposit amount in the multiples of Rs 100 and can go maximum up to Rs 1.5 lakh each year.

The Number of SSY Accounts

One account for every girl child can be opened; however, a maximum of two is permitted within a family. In case the family has two or even three girls on the grounds of twins or triplets thereafter the maximum of two or three accounts respectively can be opened.

Deposit Term

The deposits can be made for 14 years from the opening date of the Sukanya Samriddhi Yojana Indian Bank account.

Operating the Account

The Indian Bank Sukanya Samriddhi Yojana account can be operated by the guardian or the parent of the girl child until 10 years of age. Once the girl child is 10 years of age, then only can operate the account herself.

Reactivation of the Account

In case the depositor is unable to pay the annual amount, then the individual can revive the account by paying the penalty sum of Rs 50 and the minimum deposit sum for the specified and the current year.

Premature Closure

The premature closure of the Sukanya Samriddhi Yojana account is permitted; however, subject to conditions such as the demise of the depositor or any critical illness.

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

Benefits of Sukanya Samriddhi Yojana with Indian Bank

The following are the benefits of opening the Sukanya Samriddhi Yojana Indian Bank account:

Interest Rate

The interest rate within the SSY account is lucrative. The interest rate is decided by the Indian government and is compounded and credited each year.

Cost-effective Deposit Amount

The SSY account can be easily opened with the minimum deposit of Rs 250 and the amount can be increased in the multiples of Rs 100.

Interest After Maturity

The SSY Indian Bank account can easily continue to earn interest even after maturity till the time the account is closed officially.

Tax Benefits

One of the key benefits in opening the Sukanya Samriddhi Yojana Indian Bank account is that the investment made within this is entitled to tax exemption under Section 80C of the IT Act. The maturity amount also remains tax exempted.

Note: The tax benefits remain subject to change as per the prevailing tax laws.

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

Documents Required for Opening a Sukanya Samriddhi Yojana Account with Indian Bank

Listed below are the documents to open the Sukanya Samriddhi Yojana Indian Bank account:

  • Passport size photograph of the girl child and the parent or the guardian.
  • Birth certificate of the girl child under whose name the SSY Indian Bank account has to be opened.
  • Identity and address proof of the girl childs’ guardian/parent.

When opening the Indian Bank Sukanya Samriddhi Yojana Account, a passbook will be furnished by the bank respectively that would keep the withdrawal as well as the deposit entries.

How to Open the Sukanya Samriddhi Yojana with the Indian Bank?

Anyone can open the Indian Bank Sukanya Samriddhi Yojana Account in a hassle-free way. The individuals who do not hold the Indian Bank account can also open the account. Follow the steps below to open the Sukanya Samriddhi Yojana Indian Bank account:

  • Visit the nearest branch of the Indian Bank, collect the account opening form and fill in the required fields.
  • Submit all the documents as mentioned above.
  • Next, deposit the minimum sum of Rs 250.
  • Once the account is opened and activated, the deposit can also be made by cheque and cash.

An individual can calculate the maturity on the SSY account by using the Sukanya Samriddhi Yojana calculator online.

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

Who Can Open an SSY Account with the Indian Bank?

The Indian Bank Sukanya Samriddhi Yojana Account can be opened by the guardian/ parent in the name of the girl child until she obtains 10 years of age. The Sukanya Samriddhi Yojana Indian Bank account needs to open in the name of the girl and the nominee has to be an Indian citizen.

The Indian Bank Sukanya Samriddhi Yojana Account can be opened for a maximum of two girl child in each family by the parent or guardian.  

Step by Step Withdrawal Process with Indian Bank

To meet the financial needs of the account holder and to fulfil objectives such as higher education or marriage and so forth withdrawals up to 50% of the balance at credit towards the financial year preceding end is permissible.

The Sukanya Samriddhi Yojana Indian Bank account withdrawal is permitted only when the girl child who is the account holder turns 18 years old.

Indian Bank SSY- Frequently Asked Questions

*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
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
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
Bhagya Lakshmi Yojana
Bhagya Lakshmi Yojana is a welfare scheme launched by the Government of Karnataka in 2006 to improve the sex
Read more

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