SSY - Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana scheme is aimed at betterment of girl child in the country. Sukanya Samriddhi scheme has been launched to offer a means of saving to the girl child in every family. Tenure of SSY is 21 years from the date of opening of the account or till the marriage of the girl after she attains the age of 18 years. The account can be opened anytime between the birth of a girl child and the time she attains 10 years age by the parent/guardian. Only one account is allowed per child. Parents can open a maximum of two accounts for each of their children (exception allowed for twins and triplets). The account can be transferred to anywhere in India.
The account can be opened anytime between the birth of a girl child and the time she attains 10 years age by the parent/guardian. Only one account is allowed per child. Parents can open a maximum of two accounts for each of their children (exception allowed for twins and triplets). The account can be transferred to anywhere in India.
Eligibility
For the child (account holder)
- Only a girl child can avail the benefits of Sukanya Samriddhi Yojana saving scheme.
- The maximum age of this child should be 10 years. However a grace period of 1 year is granted.
For the parents-
- Only biological parents or legal guardians of a girl child can open the account on the child's behalf.
- One parent or legal guardian can open up to two accounts for their girl children.
- In case of twins or triplets the parent or legal guardian can open up to three accounts.[15]
- The account holder has to be an Indian citizen and resident in India at the time of account opening and has to remain so until maturity or closure of account.
How to open a Sukanya Samriddhi Account?
- Given below are the steps you will have to follow to open a Sukanya Samriddhi Account:
- Visit the nearest branch of the bank or post office and fill the application form.
- Once you have filled in the form, submit it along with all the necessary documents.
- Pay the first deposit amount which can range between Rs.250 and Rs.1 lakh.
- The application form and payment will be verified by the bank or the post office and if all the details are correct, an SSY account will be opened in your name.