Sukanya Samriddhi Yojana 2020

Sukanya Samriddhi Yojana is for the parents or guardians who are blessed with a daughter and are looking for the options to plan the future of their daughter in financial aspects. Pradhan Mantri Sukanya Yojana gives an opportunity to the parents to invest in the plan for the welfare of their girl children. If you invest in this scheme, it can be one of the best gifts that you can give to your girl child on her birth as you can systematically plan savings for her.

Sukanya Samriddhi Scheme is basically for the newborn girl child to ensure that female children are not left behind. As per the scheme, it provides the financial security to a girl until the time she attains 18 years of age. Parents who have a girl child who is below the age of 10 years are eligible to opt the benefits of Sukanya Samriddhi Yojana. The plan matures in 21 years.

The scheme was launched by the Prime Minister, Narendra Modi under the Beti Bachao Beti

Padhao Yojana and it aims at the welfare of the girl child. The interest rate as per the Sukanya

Samriddhi Yojana is 8.1% as per the July September quarter and now the minimum annual deposit for the scheme has also been revised to Rs. 250 from Rs. 1000 which was earlier.
Sukanya Samriddhi Yojana Account Details

How to Start Sukanya Samriddhi Yojana ?

How to Open Sukanya Samriddhi Yojana Account With Post Office To Open Sukanya Samriddhi Yojana Account With Financial Institution (Offline) To Open Sukanya Samriddhi Yojana Account With Financial Institution (Online)
1. Go to the nearest post office and fill out the application for opening Sukanya Samriddhi Account.  2. Fill in the required information in the application form with the details of the girl child and her legal guardians/parents as.  3. Attach the required documents like birth certificate of the girl child, address proof, PAN card and relationship certificate.   4. After completing all the required forms’ and documents’ verification, by the officials, the account will be opened and the passbook will be given to the legal guardian/parents. 1. Go to the nearest bank and ask the assigned official to help you out with filling up the form for Sukanya Samriddhi Yojana.  2. Fill in the required information in the application form with the details of the girl child and her legal guardians/parents.  3. Attach the copy of documents such as birth certificate of girl child, Aadhaar card, PAN card, address proof and relationship certificate which would be verified by the official agents of these banks.  4. After completion of all the form and documents verification, the Sukanya Samriddhi Account is opened and the legal parents/guardians will be given a passbook. 1. Check out the official website of the bank from where you want to open the account and find out the link for Sukanya Samriddhi Yojana Scheme to open the account.  2. Fill in the required information in the application form including details of the girl child and her legal guardians/parents.  3. Attach the scanned copy of the birth certificate of girl child along with address proof, aadhar number, PAN card and relationship certificate 4. Click on the submit button after completion of the form

Documents Required for Starting Sukanya Samriddhi Yojana

List of documents required to open an account for Sukanya Samriddhi Yojana

Age Proof: Birth certificate of the girl child
Proof of address: Address proof of the legal guardian
Identity proof: Aadhaar card or Voter ID card for identity proof 

Sukanya Samriddhi Yojana 2020 FAQ

Q. How and where to open Sukanya Samriddhi Yojana account?

One can go to any Indian post office to open Sukanya Samriddhi Yojana Account. The individual would get all the instructions by the official who is assigned for opening the accounts. Some other financial institute also offering this scheme like Sukanya Samriddhi Yojana SBI, sukanya samriddhi yojana HDFC and sukanya samriddhi yojana in PNB.

Q. Why Opt for Sukanya Samriddhi Yojana?

If you don’t want to have stress on financial grounds for your girl child, Sukanya Samriddhi Yojana is the best investment plan for you. It will secure the future of your girl child as you can use the maturity amount for her higher education and as well as at the time of her marriage. Both of these responsibilities require a good amount of money in future. So, if you don’t plan it from the start, there are chances that you might have a problem in future to meet the financial requirements.

Q. Who can deposit and operate the account?

Legal guardians or parents can operate this account until the insured girl child attains the age of 10 years or until the maturity of the account. The girl child is eligible to operate this account as soon as she turns 10 years old if she wants to.

Q. What is the Interest rate on deposits in Sukanya Samriddhi Scheme?

The Sukanya Samriddhi Yojana Account was launched with an initial interest rate of 10%p.a. for the year 2014-2015. Sukanya Samriddhi Yojana interest rate is revised on a yearly basis and for FY 2018-19 it has been revised to 8.6%.

Q. What is the tax benefits provided to SSY?

The investments made for this scheme are eligible to get tax benefits under Section 80C of the Income Tax Act.

Q. What is the age limit of Girl Child to open Sukanya samriddhi account? 

Minimum Age Zero years or newborn baby girls can be included in this scheme.
Maximum Age 10 years – no girl child above the age of 10 years is eligible to open this account.

Q. What is the time period of Sukanya samriddhi Scheme?

Sukanya samriddhi Account can be opened for 21 years, however you can keep account open after 21 years but no interest will be paid after maturity of the account.

Q. When parents can withdrawal from the Policy?

The Sukanya Samriddhi Account allows 50 percent withdrawal of the deposited money when the covered girl child reaches 18 years for the purpose of higher education. However, the account gains maturity after completion of 21 years from the date of account opening.

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