Sukanya Samriddhi Yojana has been started by the Central Government to meet the future expenses of daughters’ education, higher education and marriage so that parents can raise their daughters well without worrying about their future. This is an ambitious scheme launched under Beti Bachao Beti Padhao of the Government of India.
Under Sukanya Yojana, parents open the investment account of their daughter. In which a minimum of ₹ 250 to a maximum of ₹ 1.5 lakh can be invested every year. At present, interest at the rate of 7.6% is being provided on the amount deposited in Sukanya account. If you want to open an account in Sukanya Samriddhi Yojana 2024 for your daughter’s future  and want to avail the benefits of this scheme, then we will provide you complete information related to the SSY scheme. Like – What is Sukanya Samriddhi Yojana, features of this scheme, its objective, eligibility, necessary documents required to open an account under this scheme, etc. are going to give detailed information. Therefore, please read this article till the end.
Objective of Sukanya Samriddhi Yojana 2024
The main objective of starting Sukanya Samriddhi Yojana by the government is to secure the future of the girl child. Often, when daughters are born, parents of poor families become worried about what their daughter’s future will be like. They are always worried about the expenses of their daughters’ education and marriage. To free you from all these worries, Sukanya Yojana has been started by the government. Through this scheme, any parent belonging to a poor family can easily open a savings account and invest in it for the bright future of their daughter. With this, when the daughters grow up, they will not have to worry about money and the daughters will also be able to become self-reliant.
Features of Sukanya Samriddhi Yojana (SSY)
Blue aur some of the distinct features that the Sukanya Samridhi Yojan account provides you with.
- The SSY scheme has been started by Prime Minister Narendra Modi for the girls of the country. Under this scheme, parents can open a savings account for the bright future of their daughter.
- The savings account opened under this scheme can be operated by the parents of the girl child till the age of 10 years. A minimum of ₹ 250 to a maximum of ₹ 1.5 lakh can be deposited per year in the account opened by the girl’s parents.
- It is mandatory for the account holder to invest for 15 years in the account opened under Sukanya Yojana . If parents want to withdraw the amount deposited in this account for their daughter’s higher education, then they can withdraw 50% of the deposited amount after the girl completes 18 years of age.
- After opening the account in the name of the girl child, if any amount is not deposited then a penalty of ₹ 50 is imposed on the account every year. Investors are provided interest at the rate of 7.6% under the SSY scheme.
- On opening an account under this scheme, you are also given tax exemption as per the Income Tax Act. Under Sukanya Yojana, accounts of two girls from a family can be opened.
Eligibility for Sukanya Samriddhi Yojana
To open an account under this scheme, the girl child and her parents should be permanent residents of the country. Under Sukanya Yojana, accounts can be opened only for two girl children of a family. To open an account under Sukanya Samridhi Yojana, the age of the girl child should be less than 10 years. Under this scheme, only one account can be opened in the name of a girl child.
Documents required for Sukanya Samriddhi Yojana
SSY Scheme Required Documents: If you want to open your daughter’s account under Sukanya Samriddhi Yojana, then you will need the following documents which you will have to take to the bank or post office. All the documents are as follows –
- There should be a birth certificate of the girl child.
- Aadhar Card/PAN Card/Identity Card of Parents
- Address proof
- Documents demanded by bank and post office.
- passport size photo
List of banks for opening SSY account
The list of banks for opening accounts under Sukanya Samriddhi Yojana is given below. You can open a savings account for your daughter’s future by visiting the nearest branch of all these banks.
- State Bank of India
- Punjab National Bank
- Bank of India
- Bank of Baroda
- Bank of Maharashtra
- Allahabad Bank
- Axis Bank
- Andhra Bank
- Punjab and Sindh Bank
- Union Bank of India
- UCO Bank
- Vijay Bank
- Oriental Bank of Commerce
- State Bank of Hyderabad
- Bank of Maharashtra
- United Bank of India
- Canara Bank
- Dena bank
- State Bank of Patiala
- State Bank of Mysore
- IDBI Bank
- State Bank of Travancore
- ICICI Bank
- State Bank of Bikaner and Jaipur
When can you withdraw the amount deposited in your SSY account?
If you deposit money in the account under Sukanya Yojana and you want to withdraw the deposited amount, then you can withdraw the deposited amount in the following situation.
- If the girl child completes 18 years of age then she can withdraw 50% of the amount deposited in the account for higher education.
- But the amount can be withdrawn only once in a year and in instalments for a maximum of 5 years.
- It is mandatory to invest for 15 years in the investment account opened under Sukanya Yojana.
Under what circumstances SSY account can be closed
Under these circumstances, you can close the Sukanya account before completing 18 years of age and withdraw the amount deposited in the account.
- In case the girl gets married:Â The beneficiary can withdraw the money before the maturity period for her marriage expenses after the girl has completed 18 years of age.
- In case of death of the account holder:Â If the account holder dies suddenly, then in this situation the parents of the girl child can withdraw the amount deposited in the Sukanya Yojana account.
- Financially unable to continue the account:Â If the guardian is unable to continue the account of the beneficiary girl child then in this case the SSY account can be closed before the maturity period.
How to open an account under Sukanya Samriddhi Yojana 2024
Below we have given the details of how you can open your Sukanya samriddhi Yojana account for your daughter.
Step1: To open an SSY account, first of all the parent will have to go to their nearest bank or post office. Now from here they have to get the application form for Sukanya Samriddhi Yojana.
Step2: Now you have to fill all the information asked in this application form carefully.
Step3 : Just after filling the form, attach all the necessary documents asked for in it with the form.
Step4: After completing this process, you have to go to the bank or post office and submit the application form.In this way you can open your daughter’s account under Sukanya Samriddhi Yojana.
So this was all about the Sukanya Samridhi Yojan Started by the central government to make sure the the girls prosper and has proper amount of monetary backup for their future needs.
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