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May 4, 2024 · SIP : Standing Instructions can be given either at the Branch or set through Internet Banking for automatic credit to Sukanya Samriddhi Account . Withdrawal : 50% of the balance lying in the account as at the end of previous financial year for the purpose of education, marriage after attaining the age of 18 years.
- FAQ Sukanya Samriddhi Account - Faq's - SBI
Sukanya Samriddhi Account (SSA) is a Government-backed small...
- FAQ Sukanya Samriddhi Account - Faq's - SBI
Sukanya Samriddhi Account (SSA) is a Government-backed small deposit savings scheme for the benefit of a girl child.
Jan 25, 2022 · Parents or guardians can open a Sukanya Samriddhi Yojana account with SBI by filling out the SSY account opening form along with address and ID proof of parents or guardians with the initial amount and submit it at the nearest SBI branch.
- Sneha Kulkarni
- What Is The Sukanya Samriddhi Yojana?
- Key Features of An Ssy Account
- Who Can Open An Ssy Account in SBI?
- Documents Required to Open Ssy Account in SBI
- How to Open A Sukanya Samriddhi Yojana Account in SBI?
- What Are The Benefits of Sukanya Samriddhi Yojana?
- How to Calculate Sukanya Samriddhi Yojana Interest?
- How to Pay For Sukanya Samriddhi Yojana Online?
- How to Claim/ Withdraw Sukanya Samriddhi Yojana?
- Which Is Better - PPF Or Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana (SSY) scheme is aimed at encouraging the parents or guardians to build a fund for the future education and marriage expenses of their female child. It is part of the “Beti Bachao – Beti Padhao” initiative of the Government of India, also known as BBB. The SSY account can be opened in post offices and some specifically d...
The interest rate offered on an SSY account is 8.20 % p.a.(w.e.f 1 July 2024 until 30 September 2024) on a yearly basis.The minimum deposit in an SSY account is Rs.250The maximum amount that can be deposited in a year is Rs.1.5 lakhper SSY account.There is no limit to the number of depositseither in a month or in a financial year.An SSY account can be opened by the natural or legal guardian in the name of a girl child from the time of her birth until she attains the age of 10.The account can be opened by a depositor only in the name of the girl child.A natural or legal guardian of a girl child is allowed to open two accounts for up to two girls.One can open a third account in the name of a girl child in a scenario of twin girls' birth as a second birth or if the first birth itself results in three girl children.Documents required to open an SSY account in SBI 1. Birth certificate of the girl child 2. Photo ID of parents or legal guardian 3. Identity and Address proof of parents or legal guardian, such as passport, Driving license, Voter's ID card,Job card issued by NREGA 4. Photograph of the child and parent
SBI allows the opening of an SSY account in an easy and hassle-free way. Follow the below steps to open a Sukanya Samriddhi Yojana account in SBI: Step 1: Login to the SBI Netbanking portal. Step 2:Click on ‘Deposit and Investment’ tab. Step 3:On the next page, click on the ‘SSA Account Opening (by visiting Branch)’ option. Step 4:The SSA applicati...
Affordable Payments:The minimum deposit required to maintain an SSY account is Rs.250 per fiscal year. You can make deposits at your convenience up to Rs.1.5 lakh per fiscal year. The payments seem very affordable for people from all sections of the society. Even if you miss a payment for a year, a penal charge of Rs.50 will be levied on the missed...
The interest for the SSY account is calculated on the lowest balance for the calendar month, i.e. between the fifth day of the month and the end of the month. So ideally, an individual should try to deposit the sum of money before the 5th of every month. The interest will be credited once, at the end of each financial year. Generally, you can use t...
You have to download the IPPB app on your smartphone to make online payments towards your SSY account. Through this app, you can set standing instructions so that a specified amount will be transferred online to your SSY account. Here is the step-by-step procedure: Step 1:Transfer money from your bank account to the IPPB account. Step 2:On the IPPB...
You must submit the duly filled withdrawal to SBI to withdraw SSY account money. In order to claim or withdraw prematurely, you need to satisfy some conditions, such as for marriage expenses or for the higher education of the girl child. Upon maturity of the account, the amount will be paid to the girl child holding the account. In another case, yo...
PPF is a government-backed retirement saving scheme whereas, SSY is a government-backed small savings scheme dedicated to girl child development. Both accounts provide tax benefits. While a PPF account can be opened by anybody, an SSY account can only be opened in the name of a girl child before she attains the age of 10 years. PPF balance can be l...
SALIENT FEATURES OF SUKANYA SAMRIDDHI ACCOUNT Account can be opened in the name of a girl child till she attains the age of 10 years. Only one account can be opened in the name of a girl child. Account can be opened in Post offices and notified branches of commercial banks.
This is the process of how to open a Sukanya Samriddhi account online in SBI. SBI provides an easy and hassle-free way of opening of SSY account. Individuals that don’t have an account with SBI can open an SSY account by submitting the following documents:
People also ask
How to open Sukanya Samriddhi Yojana account with SBI?
Can a girl child get a SBI Sukanya Samriddhi Yojana account?
What is Sukanya Samriddhi Yojana (SSY)?
Why should you open a Sukanya Samriddhi Account?
You can open a Sukanya Samriddhi Yojana Account in any authorised bank branch or a post office branch. You can also set it up online with the help of your net banking facility. Documents you need to open Sukanya Samriddhi Yojana Account are: SSY Account opening form. Beneficiary’s birth certificate.
