FAQs on Sukanya Samriddhi Yojana

I have been getting a lot of questions regarding the Sukanya Samriddhi scheme, I am covering all the questions related to Sukanya Samriddhi Yojana Account.

FAQs on Sukanya Samriddhi Account

1. What is the Age Limit on Sukanya Samriddhi Account?

Anyone can open the SSY account till the girl is of age 10. Parents cannot open SSY account after their girl child completes 10 years.

2. Where to open the Sukanya Samriddhi Yojana Account?

All the major banks & post offices are authorized to open Sukanya Samriddhi Yojana account. You can reach out your nearest bank to open the account.

Here’s the list of authorized banks-

  • Axis Bank
  • Andhra Bank
  • Allahabad Bank
  • State Bank of India (SBI)
  • Bank of Maharashtra (BOM)
  • Bank of India (BOI)
  • Bank of Baroda (BOB)
  • Corporation Bank
  • Canara Bank
  • Central Bank of India (CBI)
  • Dena Bank
  • HDFC Bank
  • Indian Overseas Bank (IOB)
  • Indian Bank
  • IDBI Bank
  • ICICI Bank
  • United Bank of India
  • Union Bank of India
  • UCO Bank
  • Punjab National Bank (PNB)
  • Syndicate Bank
  • Punjab & Sind Bank (PSB)
  • Oriental Bank of Commerce (OBC)
  • Vijaya Bank

You can also reach out nearest post office to open the same account.

3. What are the Tax benefits on Sukanya Samriddhi Scheme?

Parent/guardian gets tax exemption on money invested in Sukanya Samriddhi Scheme u/s 80C. Not only that, but the amount you receive at the maturity is also tax-free, unlike fixed deposits where your mature amount is eligible for taxation.

4. Can a Non-Resident Indian (NRI) girl can get the benefit?

No. Only the girls who are residents of India can avail of the benefits of the Sukanya Samriddhi Scheme.

5. What is the current Rate of Interest on Sukanya Samriddhi Scheme?

Current rate of interest (Jan – Mar 2020) is 8.4%.

It is flexible and the government reviews the interest rates quarterly.

6. What documents are required to open Sukanya Samriddhi Yojana Account?

You require –

  • Birth Certificate of Girl Child
  • Identity proof of the parents or legal guardians
  • Address proof of the parents or legal guardians
  • Birth certificates of both girls if applying for 2nd girl child’s account

In case the birth certificate is not available, parents can submit the documents below-

  1. A certificate issued by the Principle of the school including date of birth of the girl.
  2. A certificate issued by the hospital where the girl child was born verifying the date of birth the girl.
  3. Passport of the girl child.
  4. Aadhar Card of the girl child.

7. What happens in case of the death of the girl child or the depositor?

In case of death of the girl child-
The account will get closed but parents will have to submit the death certificate issued by the competent authority. Then, the amount in the account with interest till that date will be refundable to the guardian.

In case of death of the depositor, then there are two options-

  1. The family of the girl child will get the amount in the account with interest till that date
  2. The scheme continues with deposited amount till the maturity date and girl child gets the deposited amount plus interest earned at the maturity of the account.

8. Premature Withdrawal

Girl child gets premature withdrawal when she turns 18 and the withdrawal amount is restricted to 50%.

9. Minimum Amount required for Account opening and maturity Period

You can open an account with a minimum amount of Rs. 250.

Maturity period of scheme is 21 years.

10. Is this scheme available throughout India?

Yes, anyone can open the Sukanya Samridhhi Yojana account in all the states of India till the girl is below 10 years in age.

11. Is Account Transferable?

The Sukanya Samriddhi account is freely transferable if you produce the valid address proof of a new place (within India), otherwise a fee of Rs. 100 is applicable.

12. Are commission agents or any intermediary allowed?

No, commission agents are not authorized for Sukanya Samridhhi account openings. You can go to authorized banks or post offices for that.


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