Sukanya Samriddhi Yojana
Know about the complete details of Pradhan Mantri Sukanya Samriddhi Yojana for Girl Child. Sukanya Samriddhi Yojana Calculator by SBI (State Bank of India), ICICI Bank. Find all the information about the scheme in Hindi, Download Sukanya Samriddhi Yojana online application form, and Sukanya Samriddhi Yojana account opening in Bank or Post Office.
With the revolutionary steps to enhance women empowerment in our society, many examples have changed the people’s mind. Women are now rising in every field; they are in politics, engineering, medical sector, etc. The Launch of Pradhan Mantri Sukanya Yojana is a significant step in the direction of Girl Child Empowerment. Joining this Scheme will ensure the welfare of a girl child in her journey of Life. The idea is to make her finally secure and self-dependent.
This article focuses on all aspects of Sukanya Samriddhi Yojana. We will let you know, how you can apply for it, how to open an account (Khata) under Sukanya Samriddhi in Bank or Post Office? Also, if you want the info in Hindi, here we have included it. We will also emphasise on applying for this scheme at two banks i.e. SBI & ICICI.
Note: The process for other banks is also almost same.
The Indian government is very concerned about the future of a girl child. In favour to this aspect, in January 2015, Respected Prime Minister Shri Narendra Modi Ji, launched Sukanya Samriddhi Yojana. From the beginning of this project, it has received a great response as the parents have shown a keen interest in it. If you are looking for complete details for opening bank accounts, verifying eligibility, know benefits, how to apply for it, and downloading the application form, this article has covered up all.
PRADHAN MANTRI SUKANYA SAMRIDDHI YOJANA – HOW TO APPLY?
It has been noted that many parents across the nation find it difficult to make financial arrangements for the education of their girl child as well as on her marriage. This small deposit scheme was launched to help such guardians under the “Beti Bachao Beti Padhao” campaign. But, before discussing all the aspects of this project in the article, few things should be clear –
Parents or Legal Guardians of the Girl child on her behalf can join this scheme.
A depositor will be one who will adhere to the scheme in the name of a girl and will deposit amount in the bank account.
Father or Mother of the Girl Child
In case Father and Mother are not capable of handling, a person who will be acting on behalf of them will be entitled as guardian.
THINGS TO KNOW – PRADHAN MANTRI SUKANYA SAMRIDDHI YOJANA (SSY)
- Natural or Legal Guardian of a girl can open the bank account.
- Age of a girl should not exceed ten years at the time of opening the bank account
- Minimum amount to be deposited every year is Rs. 1000 and maximum amount is Rs. 1,50,000.
- The amount can be deposited anytime from April to March i.e. financial year.
- For the age of 14, The amount is to be deposited.
- The deposit modes of payment are Cash, Cheque or Demand Draft.
- Interest to be offered is 9.2%
- The maturity date is 21 year from the time of the opening account.
- Under this scheme, Minimum Lock-in period is 11 years.
Note: The deposit has to be made for 14 years.
Conditions of Withdrawing Money
Money can be entirely withdrawn after a girl turns 21.
The account holder can withdraw up to 50% amount at the end of the previous financial year for the girl’s higher studies or marriage after she turns to 18 years of age.
In case, if the money is not withdrawn after a girl turns 21, it will continue to earn interest.
Eligibility for PM Sukanya Samriddhi Scheme
▪ Girls of 10 years of age or below are eligible to join this scheme, and their parents/guardian can open the account and perform the formalities for them.
Note – NRI’s cannot participate in this project.
OPENING SUKANYA SAMRIDDHI YOJANA ACCOUNT IN POST OFFICE OR BANK
PM Sukanya Samriddhi Yojana – Opening Account in Post Office
For those who are interested in opening account in Post Office, here are the steps –
▪ Firstly, get the Application Form (Links at the End of Article).
▪ Fill up the application form and also attach the following documents:
- Birth Certificate of Girl Child
- Address Proof of Parent (or Guardian)
- Identity Proof of Parent (or Guardian)
▪ Submit the completed application form to the nearest post office.
▪ Make your First Deposit in an account and receive the official passbook from the Post Office.
Once the account is opened, try to add some amount regularly. This little investment will prove to be helpful for your girl child a lot in her future.
PM Sukanya Samriddhi Yojana – Opening Account in Bank
Open Sukanya Samriddhi Bank Khata in SBI, ICICI or any other bank.
▪ Firstly, get the application form.
▪ The parent or legal guardian needs to fill up the application form and attach the birth certificate of a girl child along with the address and identity proof.
▪ Submit these documents and state the official in the Bank Branch that you want to open the Sukanya Samriddhi account.
▪ Official will identify the form and attached documents.
▪ If everything felt fine, they will process your request and open the account for you.
▪ Once the passbook is delivered, you can make the First Deposit to the account.
Sukanya Samriddhi Account Advantages
▪ The bank account opened under this scheme will have the unique ability that a handsome interest will be offered. The minimum deposit of Rs 1000 is to be made, and the maximum deposit is Rs. 1,50,000.
▪ Transfer of Bank Account is possible throughout the country.
▪ At the time of opening bank account, passbook will be offered.
▪ A girl child can start operating her bank account; once she reaches the age of 14 years.
Sukanya Samriddhi Accounts – Interest Rate
The interest rates might change every financial year. The interest rate being provided in the current fiscal year is 8.6%
Calculator for SSY (Sukanya Samriddhi Yojana)
If you want to make calculations for SSY, you can take advantage of maturity calculator:
You can check the maturity value using the info given in the official notification.
Other Important Details
▪ If the yearly contribution is not made by the guardian or parents, premature closure of Sukanya Samriddhi account is possible.
▪ If a girl gets married before 21 years of age the account will become non-operative.
▪ In the case of death of a girl child, the account will be closed immediately, and balance amount will be given back to the parents or legal guardian.