List of Banks Offering Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana is a savings scheme regulated by the government of India for the well-being of a girl child. Anyone who wishes to open a Sukanya Samriddhi Yojana account can do so with any authorized bank in India. The banks in India have been given authority by the Indian government to open the Sukanya Samriddhi Yojana account with a minimum deposit sum of Rs.250.

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

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

Overview of the Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana (SSY) is a government savings scheme in India specifically for girl children. It is part of the Beti Bachao Beti Padhao initiative that aims to empower girls. Here's an overview of the scheme:

  • Eligibility: Open an account for a girl child up to 10 years old.

  • Minimum deposit: Rs. 250 per year.

  • Maximum deposit: Rs. 1.5 lakh per year.

  • Where to open an account: Authorized branches of public sector banks, three private sector banks, and post offices.

  • Benefits:

    • Attractive interest rates (currently 8.2% as of January-March 2024 Q4).

    • Tax benefits**: Deposits qualify for deductions under Section 80C of the Income Tax Act, and the interest earned is tax-free.

    • Maturity period: 21 years from opening or upon marriage after the girl turns 18 (whichever is earlier).

    • Financial Objectives: Serves long-term investment objectives with the power of compounding.

    • Security: Being a government-backed scheme, it is safe and offers guaranteed returns.

    • Transfer: It can be transferred from one post office/ bank to any other within the country.

One can use the Sukanya Samriddhi Yojana calculator and calculate the maturity sum at the end of the term. 

**Note: Tax benefit is subject to changes in tax laws.

People also read: Best Child Plan

List of Banks Offering Sukanya Samriddhi Yojana

Listed below are the names of the banks that offer the Sukanya Samriddhi Yojana to all eligible individuals:

  • State Bank of India

  • Bank of India

  • Canara Bank

  • Corporation Bank

  • ICICI Bank

  • Indian Bank

  • Oriental Bank of Commerce

  • Punjab National Bank

  • UCO Bank

  • United Bank of India

  • Axis Bank

  • Andhra Bank

  • Bank of Baroda

  • Bank of Maharashtra

  • Central Bank of India

  • Dena Bank

  • IDBI Bank

  • Indian Overseas Bank

  • Punjab & Sind Bank

  • Syndicate Bank

  • Union Bank of India

  • Vijaya Bank

  • Allahabad Bank

If you have a savings account with one of these banks, you can easily open a Sukanya Samriddhi Yojana Account with minimal paperwork and no hassles. If you don't have a savings account with any of these authorized banks, you can still open an SSY account with them. There are two methods to open the SSY Account, as follows:

Investment Investment
Secure Secure
Child Banner
Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply

How to Open the Sukanya Samriddhi Yojana Account?

Anyone who wishes to benefit from the Sukanya Samriddhi Yojana scheme needs to open an account in the name of a girl child. The Sukanya Samriddhi Yojana account can be opened with authorized banks or post offices with 2 methods.

  • Offline: Anyone who is taking the offline route needs to visit the branch physically to open the SSY account. Once at the branch, fill in the Sukanya Samriddhi Yojana scheme application. Submit the form with all the relevant documents attached and the deposit. Once the form and attached documents are verified by the bank, the SSY account will be opened.

  • Online: Opening an account at a bank branch:

    • Visit any authorized bank branch or post office offering SSY accounts.

    • Collect and fill out the SSY account opening form.

    • Submit the required documents along with the form and a photograph. These documents typically include:

    • SSY Account opening form

    • Birth certificate of the girl child

    • Identity proof and residence proof of the guardian (as per KYC guidelines)

    • Make the initial deposit (minimum Rs. 250, maximum Rs. 1.5 lakh in a financial year).

You can manage the SSY account online through the bank websites.

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 *

People also read: Best Child Plan

Documents Required to Open the Sukanya Samriddhi Yojana Account

The following documents are required to open the Sukanya Samriddhi Yojana account:

  • The duly filled application form

  • The certificate of birth of the beneficiary (girl child)

  • An address of evidence and identity for the parent/ guardian

  • The passport-size photographs

Conclusion

Anyone who has a daughter should start planning for their future by investing in the Sukanya Samriddhi Yojana savings scheme. This savings scheme will not only let one earn guaranteed returns but also create a tax-efficient corpus to fund the higher education or any other expenses of the daughter without any financial strain.

FAQs

  • What if I deposit more than 1.5 lakh in Sukanya Samriddhi Yojana?

    Deposits exceeding Rs. 1.5 lakh in a year are not allowed in the Sukanya Samriddhi Yojana scheme. You can contribute a maximum of Rs. 1.5 lakh per year. If you wish to deposit more, you must open separate accounts for the girl child.
  • What is a 65 lakh scheme for a girl child?

    There isn't actually a specific 65 lakh scheme for girl child.

    However, the Sukanya Samriddhi Yojana (SSY) can help you accumulate a significant amount for your daughter's future, potentially reaching Rs. 65 lakh or more depending on factors like investment amount and interest rates. It's a government-backed savings scheme designed for girl children's education and marriage expenses.

  • Is Sukanya tax-free?

    Yes, the Sukanya Samriddhi Yojana offers multiple tax benefits:
    • Investments qualify for deduction under Section 80C (up to Rs. 1.5 lakh).

    • Interest earned on the deposit is tax-free.

    • The maturity amount (including principal and interest) is tax-free.

*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
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
Sukanya Samriddhi Yojana Calculator
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that aims to create a corpus to
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