About Sukanya Samriddhi Yojana-SSY-2021

By | May 15, 2021

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana  for higher education or girl wedding is a very good plan to invest for investors who have low risk appetite. Sukanya Samriddhi Yojana Calculation Current 8.5 percent annual Returns If you invest Rs 6,000 per month for her daughter from the age of one year, then it will become Rs 32,79,000. Your investment amount during this period will be Rs 9,36,000, as your child is already one year old and you can only invest for 13 years. So your net profit in Sukanya Samriddhi Yojana is Rs 23,43,000.
Sukanya Samriddhi Yojana

About Of Sukanya Samriddhi Yojana :

  • Sukanya Samriddhi Yojana (Girl Child Prosperity Account) is a supported savings scheme of the Government of India. Which is targeted at the parents of the girl child. The scheme encourages parents to make a twist for the child’s future education and marriage expenses.
  • SSY was launched by Prime Minister Narendra Modi on 22 January 2015 as a part of Beti Bachao, Beti Padhao campaign. Currently the scheme offers an interest rate of 6%. Sukanya Samriddhi Yojana account can be opened in any Indian Post Office or branch of authorized commercial banks.
  • SSY is a disciplined investment scheme, because from this you cannot withdraw the investment amount till the daughter turns 18. However there are some exceptions here. Even after the age of 18, you can withdraw only 50 percent of the amount for higher education of the daughter. 100% of the amount can be withdrawn when the daughter turns 21. But investment in Sukanya Samridhi Yojana will be allowed only when the daughter is 14 years old. You will be able to withdraw money when the daughter turns 18 or 21 years old.
  • The Sukanya Samriddhi Yojana 2016 was repealed on 12 December 2019 and the new Sukanya Samridhi Yojana 2019 was introduced.

Read Also :- PradhanMantri Awas Yojana Urban 

Objective Of SSY

  • The aim of SSY is to advance girls in education and not let the money fall short when they are eligible for marriage. Account can be opened in the bank for a minimum of Rs 250. This Sukanya Samriddhi Scheme will give encouragement to the girls of the country and they will be able to move forward. Preventing feticide of girls through this scheme.

  Rools Of Sukanya Samridhi Yojana

  • The account can be opened by the parents of the girl child till the age of 10 years or till the age of middle age.
  • Only one account can be opened in the name of a girl child.
  • Only one account per child is allowed.
  • Parents can open a maximum of two accounts for each of their children (exceptions allowed for twins and all three).
  • The account can be transferred anywhere in India.
  • Account can be opened in post office and branches of authorized banks.
  • Initially the minimum deposit should be 250. Thereafter, any amount in multiples of Rs 100 can be deposited. However, the maximum deposit limit limit is 150,000.
  • If in a year, a minimum deposit of 250 (which was initially 1000) is not made, then Rs. A fine of 50 will be imposed.
  • The girl can operate her account after reaching the age of the year.
  • This account allows for 50% withdrawal at the age of 18 for the purpose of higher education.
  • The account holder can withdraw the amount only when he attains the age of 18 years and the amount is being used for higher studies and marriage. After its maturity the account will be closed.

Sukanya Samridhi Yojana Benefite

  • The benefit of SY scheme will be provided to girls below 10 years of age.
  • Under Sukanya Samriddhi Yojana, guardians of girls can open a savings account for them. Until that girl turns 10.
  • A maximum of Rs 1.5 lakh can be deposited during the current financial year under Sukanya Samridhi Yojana.
  • Under Sukanya Samridhi Yojana, you can easily secure the future of your daughters.
  • This will help in your girl’s education or marriage.
  • You can easily start Sukanya Samridhi Yojana Yojana at any bank or post office.
  • This scheme is beneficial for both the girl and her parents / guardians as it helps both.
  • A parent or natural parent is allowed to open an account under this scheme for only two girls.
  • The depositor can deposit money in the account from the girl till the completion of fourteen years from the date of opening of the account.

Sukanya Samriddhi Yojana Calculator

Click on the following link to go to Sukanya Samriddhi Yojana’s calculator.

  1. Sukanya samriddhi yojana calculator
  2. sukanya samriddhi yojana calculator

Sukanya Samriddhi Scheme tax benefits

  • As per the Income Tax Act, all investments made under this scheme are eligible for the benefit of tax deduction. A maximum tax deduction of 1.5 lakh is allowed towards SSY.
  • Under this, interest is credited, which is credited to the account on an annual basis. There is no tax levied on this accrued / accumulated interest. This allows the funds under the scheme to be maximized.
  • The tax exemption can be claimed by either the girl’s parents or legal guardian. Only a depositor is eligible for tax exemption under Section 80C of the Income Tax Act.

Read Also :- Pradhanmantri Aavas Yojana Full Details 

Documents required to open an account in SSY

Sukanya Samriddhi Account

  • To open an account under this scheme, the girl’s age should be less than 10 years.
  • Aadhar Card
  • Baby and parents photo
  • Girl Child Birth Certificate
  • Residence proof
  • Depositor (parent or legal guardian) ie PAN card, ration card, driving license

To open Sukanya Samriddhi Account, go to the bank below and submit the application form.

Sukanya Samriddhi Account Form Download 

Sukanya Samriddhi Account Form SBI :- Download
Sukanya Samriddhi Account Form AXIS Bank :- Downlaod
Sukanya Samriddhi Account Form Dena Bank :- Download 
Sukanya Samriddhi Account Form Bank of India :- Download 
And to download Other bank’s form, please go to the official site of that bank.

Read Also :- Pm Kisan Samman Nidhi Yojana Full Details 

Authorized bank for Sukanya Samriddhi Yojana

There are a total of 28 banks authorized by the Reserve Bank of India (RBI) to open Sukanya Samriddhi Yojana accounts. Users can open an SSY account in any of the following banks and avail benefits as per the rules of the scheme.

  • Allahabad Bank
  • State Bank of India (SBI)
  • axis Bank
  • Andhra Bank
  • Bank of Maharashtra (BOM)
  • Bank of India (BOI)
  • Corporation Bank
  • Central Bank of India (CBI)
  • Canara Bank
  • Dena Bank
  • Bank of Baroda (BOB)
  • State Bank of Patiala (SBP)
  • State Bank of Mysore (SBM)
  • Indian Overseas Bank (IOB)
  • Indian Bank
  • Punjab National Bank (PNB)
  • IDBI Bank
  • ICICI Bank
  • Syndicate bank
  • State Bank of Bikaner and Jaipur (SBBJ)
  • State Bank of Travancore (SBT)
  • Oriental Bank of Commerce (OBC)
  • State Bank of Hyderabad (SBH)
  • Punjab and Sindh Bank (PSB)
  • Union Bank of India
  • Uco bank
  • United Bank of India
  • Vijay Bank

Questions And Answer about Sukanya Samriddhi Yojana

1. When was Sukanya Samriddhi Yojana launched ?

Answer: – Sukanya Samriddhi Yojana was launched by Prime Minister Shri Narendra Modi on 22 January 2015.

2. Can I open Sukanya Samriddhi Yojana account online ?

Answer: Yes, Sukanya Samriddhi account can be opened online. This can be done by entering the net banking facility of the bank. The online facility allows easy documentation and instant account opening.

3. How much amount can I deposit in Sukanya Samriddhi Yojana ?

Answer: Minimum amount of Rs. 250 and the maximum limit that can be deposited in a year is 1.5 lakh rupees.

4. Is interest charged on Sukanya Samriddhi Yojana ?

Answer: No. No interest is charged.

5. Can I deposit online in Sukanya Samriddhi Account ?

Answer: Yes, you can deposit online in your Sukanya Samriddhi account through e-transfer.

6. If my daughter moves to another country, can I continue to invest in it ?

Answer: Sukanya Samriddhi Yojana is made only for the residents of India. If someone settles abroad and acquires NRI status, they cannot invest in SSY any further.

7. Which bank is considered best for Sukanya Samriddhi Yojana ?

Answer: – The benefits of Sukanya Samriddhi Yojana are the same whether it is offered by a post office, a private or public sector bank. Sukanya Samriddhi Yojana The interest rate is fixed by the government every quarter, and the same applies to banks and post offices.

8. What if I forget to fill the minimum annual payment of my Sukanya Samriddhi Yojana ?

Answer: If you miss your minimum annual payment then you will face a fine of 50.

9. Can parents withdraw money from Sukanya Samriddhi account ?

Answer: – Only after the girl turns 18, the account holders can withdraw money from Sukanya Samriddhi account. No withdrawals are allowed before this.

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