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Government-launched special small savings account
- ICICI Bank offers government-launched special small savings account called the Sukanya Samriddhi Yojana Account. The scheme is designed exclusively for girls and it offers financial support which is aimed towards higher education or marriage. The interest you will earn is 8.20% which is compounded on an annual basis.
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People also ask
What is ICICI Bank Sukanya Samriddhi Yojana account?
What is Sukanya Samriddhi Yojana (SSY)?
How to open Sukanya Samriddhi Yojana account?
How many Sukanya Samriddhi ICICI accounts can a girl child have?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme as part of the “Beti Bachao, Beti Padhao Yojana” for the benefit of the girl child. Parents can open up to two such accounts for girls (they cannot open a third/fourth account, etc. if they have more than two girls).
- Designated Branch Locations for Sukanya Samruddhi Yojana ... - ICICI Bank
ICICI Bank PPF Account. A blessing for wealth creation is...
- What is Sukanya Samriddhi Yojana and how to open ... - ICICI Bank
One such scheme is the Sukanya Samriddhi Yojana (SSY) which...
- Sukanya Samriddhi Yojana Account Faqs - ICICI Bank Answers
To apply for Sukanya Samriddhi Yojana (SSY) scheme, the...
- Designated Branch Locations for Sukanya Samruddhi Yojana ... - ICICI Bank
- What Is Ssy?
- Returns on Ssy Account Investment
- Minimum and Maximum Investment Amount
- Sukanya Samriddhi Scheme Maturity
- Opening Sukanya Samriddhi Account Online
- Empowering Girl Child with Ssy
SSY is a savings scheme targeted towards the parents of girl children. It aims to help parents in ensuring that their girl child has a bright future with her education and marriage expenses are managed by this savings scheme. Under the scheme, the parent or legal guardian of a girl child can open a small savings account in a post office or approved...
The investments done in Sukanya Samriddhi Accountearns interest which is annually compounded. The rate of interest is adjusted annually. Currently, this savings account earns 8.5% interest annually. Compared to other popular investment options that parents often select for their children such as PPF, SSY currently offers higher interest.
While the minimum investment amount was Rs. 1,000 a year in the past, it has been recently reduced to Rs. 250. However, the maximum amount continues to be Rs. 1.5 lakhs in a financial year. However, there are no limits on the number of deposits you can make.
The parent or legal guardian of a girl child can keep investing in this savings account for up to 14 years. The account will then continue to earn interest until the girl turns 21. The invested amount, as well as the accumulated interest, is then paid to the girl. There is a provision for partial 50% withdrawal from the account after girl turns 18 ...
You can open a Sukanya Samriddhi Schemeaccount online from the official website of banks registered under the scheme. To open the account, you’ll be required to submit a few documents such as- 1. SSY Account Opening Form 2. Birth Certificate of the girl child 3. Aadhar Card of the girl child 4. ID proof and address proof Similarly, you can also vis...
With the expenses of day-to-day life increasing consistently, it is your responsibility as a parent to start saving for your child especially girl from an early age. While there are now several investment options, the Sukanya Samriddhi Yojana is government-backed and one of the most reliable. Get in touch with an authorised bank to know more about ...
To apply for Sukanya Samriddhi Yojana (SSY) scheme, the guardian is required to fill the Account opening form on behalf of the minor girl child and submit it at any ICICI Bank branch with the KYC documents.
- You may deposit cash/ cheque in Sukanya Samriddhi Yojana (SSY) account by visiting ICICI Bank branch or do fund transfer through the linked guardia...
- The current interest rate is 8.4%, which is compounded annually. The interest rate is as governed by Ministry of Finance from time to time.
- No, only one SSY account can be opened in the name of the girl child either by natural or legal guardian.
- For customers having relationship with ICICI Bank which is greater than 2 years, the following documents are required: Sukanya Samriddhi Yojana Sch...
- In the event of death of the account holder. in case of extreme compassionate grounds such as medical support in life-threatening diseases of the a...
- The minimum deposit amount is Rs. 250 per annum and the maximum amount is Rs. 1,50,000 per annum.
- Penalty of Rs. 50 will be levied per year of default, if the customer does not deposit the minimum deposit amount of Rs. 250 in a financial year.
- The SSY account matures after completion of 21 years from the date of account opening
Feb 26, 2024 · What is ICICI Bank Sukanya Samriddhi Yojana? ICICI Bank Sukanya Samriddhi Yojana is a savings plan designed for parents of a girl child. Its purpose is to assist parents in securing a promising future for their daughters by managing education and marriage costs through this savings program.
ICICI Bank offers government-launched special small savings account called the Sukanya Samriddhi Yojana Account. The scheme is designed exclusively for girls and it offers financial support which is aimed towards higher education or marriage.
- The guardian will have to submit account opening documents on the behalf of the minor girl in any of the branches of ICICI Bank. The account will o...
- The eligibility criteria one will have to fulfill in order to apply for this account is given below:.The account can only be opened by a legal guar...
- The minimum and maximum that can be invested in Sukanya Samriddhi Yojana is Rs.1,000 p.a. and Rs.1.5 lakh p.a. respectively.
- The account matures after the completion of 21 years since the date on which the account was opened.
- The process to transfer your SSY account from another bank/post office to ICICI Bank is very simple. You will have to submit SSY Transfer Request a...
- No, there is no loan facility provided under Sukanya Samriddhi Yojana.
- The parents or the legal guardian of the registered girl can claim the final amount including the interest accrued in case of her untimely death. .
Key Features of ICICI Bank Sukanya Samriddhi yojana. Opening an ICICI SSY account – An SSY account in ICICI bank can be opened by either biological parents or the legal guardians of a girl child with a minimum deposit of Rs.1,000. A maximum of two accounts are allowed in a family; three accounts can be allowed in the case of the birth of ...
Jul 27, 2024 · Discover the Sukanya Samriddhi Yojana (SSY) scheme launched under the Beti Bachao Beti Padhao campaign. Learn about its Sukanya Samriddhi Yojana interest rate, benefits, eligibility, bank list, age limit and how to open an account.
