Sukanya Samarnidhi Yojana Scheme

Sukanya Samarnidhi Yojana SSY Scheme – The SSY scheme was developed from the “Beti Bachao, Beti Padhao Yojana” for the benefit of a girl child, the Prime Minister Narendra Modi launched this scheme in the year 2015.

The reason behind the scheme was to save a girl child, the girl gender was becoming a burden to every parent, the low-grade parents even though they have the dream to give a beautiful future but financially worried and stepping back word, to prevent such cases the government has brought the SSY scheme.

To facilitate good education and the beautiful marriage for free expenses, this SSY was well accepted by the girl child parents the independence it could provide for tomorrow’s better life.

The government has authorized various financial institutions for the opening of the account under this scheme, can access or open SSY accounts in these authorized banks and post office.

Sukanya Samarnidhi Yojana scheme Eligibility

  • This scheme can be opened in the name of a girl child by her parents or guardians
  • The girl has to be below 10 years of age during the time of opening an account
  • The multiple schemes are not allowed to open
  • Not more than two accounts should be open, in the case of twins then allowed for the 3 accounts
  • Age proof must be submitted to the SSY scheme

Benefits of Sukanya Samarnidhi Yojana Scheme

  • It provides tax deduction benefits under section 80C up to the RS 1.5 lakh annually
  • Flexible investment option with the low deposit of RS 250 in a year and maximum RS 1.5 lakh per annum
  • Can be freely transferred from one party of the country to the other(bank/ post office) due to the transfer of parents or guardian who is operating the account
  • High and best-fixed interest rates
  • Maturity amount will be sanctioned directly to the girl child

Sukanya Samarnidhi Yojana Work process

  • Name of a girl child
  • The details of the parents or guardian for the opening of the joint account
  • Initial deposit amount
  • Date of birth of a girl child
  • Identification details of parents/guardian like Aadhaar, PAN, voter
  • Present and permanent address

Once the above details filled into the application needs to be signed and submitted with the account opening authority either in the post office or bank branch along with the copies of all applicable documents

Tenure of Sukanya Samarnidhi Yojana scheme

The tenure of this is up to the age of 21 years or upon her marriage attaining age after 18 years.  However, the contribution to the girl child needs to be done only after 15 years, thereafter the account continues to earn the interest until maturity even if no deposits are made to it.

The girl is also available with the “partial withdrawal “facility but not more than the 50% from the balance to attain for the higher education expenses.

The scheme application form can be” download” from the online such as follows:

  • The Reserve bank of India website
  • The India post web site
  • The web sites of private sector banks( ICICI bank, Axis bank, HDFRC bank)

The normal duration of the account is up to 21 years. However, if she wishes to continue the account further, she will not get any interest after the maturity period finishes per the rules.

Check details about ts dharani pahani