Great Details on Sukanya Samriddhi’s Account Balance. How to Open Sukanya Samriddhi Account Online. Transfer Sukanya Samriddhi Account. How to Check Sukanya Samriddhi Account Balance. sukanya samriddhi yojana.
Sukanya Samriddhi Yojana
Women welfare is top priority in all India States. This compels the central and state governments to innovate various women/girl related schemes. The programs assist in multiple benefits including financial, education and protection.
The Government advocates for a better future thus introducing ways girls/women can save and be stable in the future. Sukanya Samriddhi Yojana is an amazing establishment by the Indian government to improve and boost girl child financially. The initiative was developed in 2015 through the Beti Bachao Beti Pachao Campaign. The scheme has strongly advocated to financing the girls through different ways. However, to benefit the user must fulfil the requirements and provide proof documents
Required documents for the opening of an SSY account.
Documents required for the opening of an SSY account include the following:
- Address proof of the heir’s parent or guardian.
- Beneficiary photos (two).
- SSY account opening form.
- Parent or guardian ID proof.
- Beneficiaries’ birth certificate.
The SSY account Eligibility.
The Eligible criteria for an SSY account are:
- The account should be opened before the girl turns ten years old.
- Every eligible girl child should have one account.
- Be a residential citizen of India.
Benefits of Sukanya Samriddhi Account (SSY)
The SSY account offers the following benefits:
- It provides high interest rates of 8% per year.
- Income tax saving is also given.
- It gives an eight-year lock-in period from the account opening date.
- Withdrawals can be made partially according to the withdrawal purpose.
- The SSY guarantees maturity benefits.
- You can open the account at an authorized bank branch near you or any Indian post office.
The SSY features
The following are the SSY features:
- You can open the account at an authorized bank branch near you or any Indian post office.
- Indian government initiates the program.
- SSY annual compounded interest rate is 6%.
- The Income Tax Act provides tax exemption.
- Only the Beneficiary child bears the account name.
- A minimal amount deposited annually should be from Rs. 250 to 1.5lakh.
- The number of SSY accounts allowed in a family is two.
- The girl child experiences a Tenure of 21 years or when she gets married at 18.
How to Open Sukanya Samriddhi Account Online
How to open a new Sukanya Samriddhi Yojana account?
There are two ways on how to open the SSY account:
- Online.
To open the Sukanya Samriddhi Yojana account online, follow the below-provided steps:
- Choose the official website of your bank selection.
- Input all the child and parent details in the account opening form.
- With all the requested certificates, attach their copies and address proofs.
- Tap the “Submit” option, and your SSY account will be done.
Offline Process for Opening Sukanya Samriddhi Account
In the offline method to open the SSY, follow the below steps:
- Go to the nearby post office or bank.
- Input your daughter’s details in the SSY application.
- You have the following:
- Aadhaar card.
- Pan card.
- Birth certificate.
- Other needed documents.
- After submitting these documents, the verification will take place, and you will be opened and given the passbook.
How to Check Sukanya Samriddhi Account Balance
The process on how to check SSY Balance.
Two ways on how to check the SSY balance include:
- Online method.
By use of an account statement, one can quickly check the SSY account balance if you follow the below steps:
- First, one must confirm if the bank offers an online facility, and if so, apply and get the login details of the Sukanya Samriddhi account.
- With the login information, one can link to the banking portal.
- After opening the account, move to the homepage and find the account balance, mostly displayed on the screen.
NB. The online search for the account balance is for only viewing; thus, no transaction can be within the portal.
SSY Balance Check
- Offline method.
When one registers with the Sukanya Samriddhi Yojana account, one is given a bank account passbook. One has to update the passbook every time to know the outstanding SSY account.
How to Transfer Sukanya Samriddhi Account
Steps on how to transfer an existing Sukanya Samriddhi account. Step by step procedure to Transfer Sukanya Samriddhi Account Online
An individual can exit the SSY account through:
- One moving your accounts post office, carrying your updated passbook and the KYC documents.
- The bank executive will ask for the document and the account passbook.
- Notify him of your decision to close the account and transfer to another bank.
- Go to the bank and surrender the transfer application.
- Give out your KYC. This serves as an identification proof and address.
- You will be represented with a new passbook showing the account balance from your account.
- Your account will be activated.
The Sukanya Samriddhi mode of deposit.
The Sukanya Samriddhi mode of deposit includes:
- Demand draft.
- Cheque.
- Online and offline transfers through internet banking.
- Cash.
How to Deposit Money in an SSY Account?
The below-highlighted steps guide us on how to deposit money in their account:
- Increase money from your activated savings account to the IPPE (India Post Payment Banks) savings account.
- Having the DOP (Department of Post) product, choose the Sukanya Samriddhi Yojana account.
- Submit the following details:
- Account number.
- Customer ID from the DOP.
- Login properly and transfer money from IPPB to SSY account.
- Choose the amount to deposit and the installation duration agreed upon during your registration on the SSY scheme.
- You will receive a payment transfer message from the India Post Payment Bank on your registered mobile number.
FAQs.
- Highlight the eligible criteria for the SSY account.
The eligible criteria for the SSY account are as follows:
- The account should be opened before the girl turns ten years old.
- Every girl child should have one account.
- Be a residential citizen of India.
- What are the documents required to open an SSY account?
Documents required in opening the SSY account are:
- Beneficiaries’ birth certificate.
- Beneficiaries photos (Two).
- SSY account opening form.
- Address proof of the child’s parent or guardian.
- Parent or guardian ID proof.