Sukanya Samriddhi Deposit Scheme Account Opening Form – SSY
To ensure secure future of a girl child and to help her education as well as meet expenses of her marriage, a small saving scheme, Sukanya Samriddhi Yojana (SSY) has been launched by Prime Minister Narendra Modi in January 2015.
It is a part of Beti Bachao Beti Padhao Program. The Yojana has been welcomed by all spheres of the society and provides financial security to the girl child as well as her parents.
Details about Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana account can be opened for a girl child of the age up to 10 years by her parent/guardian.
The account can be opened any time after the birth of a girl child with the minimum deposit of Rs.1000. The maximum deposit of Rs.150, 000 can be made to the account during the financial year.
Once an account is opened, the deposit can be made by her guardians in multiple of Rs. 100 on monthly basis; any number of transactions can be made. Money can be deposited for first 15 years only.
At the most two accounts can be opened for two girls in a family. An exception of third account is given if two younger daughters are twin girls.
The account matures after 21 years of the opening of an account. If the amount is not withdrawn after maturity, interest is not paid on it. The account can be pre-matured for marriage once she turns 18.
A partial 50% withdrawal of balance can be made to meet her education expenses after she turns 18.
The rate of interest is declared by Government of India every year. For the year 2016-17, the rate declared is 8.6%.
Deposit made to the account qualifies under section 80C of the income tax. Interest earned on it also tax-free.
How to Open Sukanya Samriddhi Yojana Account
Sukanya Samriddhi account opening form: Any parent or legal guardian of the girl child can open Sukanya Samriddhi Yojana account in any authorized bank or post office. There is no need for the child to remain present while opening an account. Fill out an application form and submit it along with necessary documents. The documents include:
ID proof of parent/guardian: Voter ID, passport, PAN card or matriculation certificate can be presented as ID.
Address proof of the parent/guardian: Ration card, passport, electricity bill, telephone bill, voter ID or any certificate issued by Government of India can be presented as address proof.
Birth certificate of the girl child: Birth certificate issued by the hospital where the girl child was born is to be presented.
Open Sukanya Samriddhi Yojana account for your girl child and get financial security for her education and marriage!
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