How to Open Sukanya Samriddhi Account Online

  

Sukanya Samriddhi Yojana (SSY) 2024: Online Application, Interest Rate Chart & Calculator

Sukanya Samriddhi Yojana (SSY) is a small savings scheme launched under the Beti Bachao, Beti Padhao initiative by the Government of India. It is specifically designed for the financial security and education of a girl child, offering high returns with tax benefits.

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Key Features of Sukanya Samriddhi Yojana

1. High Interest Rate:

   • Interest Rate for Q4 FY 2023-24: 8.0% per annum (compounded annually).
   • Rates are subject to quarterly revisions by the government.

2. Tax Benefits:

   • Exempt under Section 80C of the Income Tax Act (EEE category: Exempt-Exempt-Exempt).
   • Interest earned and maturity amount are tax-free.

3. Secure Investment:

   • Government-backed savings scheme, ensuring safety and guaranteed returns.

4. Eligibility:

   • Parents or guardians can open the account for a girl child below 10 years of age.

5. Account Tenure:

   • Deposit period: 15 years.
   • Maturity: 21 years from the account opening date or when the girl marries (whichever is earlier).

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Deposit Details

Category	Amount
Minimum Deposit	₹250 per year
Maximum Deposit	₹1,50,000 per year

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Interest Rate Chart for Sukanya Samriddhi Yojana (2024)

Financial Year	Interest Rate (% per annum)
FY 2023-24 (Q4)	8.0%
FY 2023-24 (Q3)	8.0%
FY 2022-23	7.6%

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Maturity Calculator Example

Annual Deposit	Interest Rate	Tenure	Maturity Amount
₹1,50,000	8.0%	21 Years	₹63,50,000 approx.
₹50,000	8.0%	21 Years	₹21,00,000 approx.

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Eligibility Criteria

1. Age of Girl Child:

   • Must be below 10 years at the time of account opening.

2. Residency:

   • Only for Indian residents.

3. Number of Accounts:

   • Maximum two accounts per family (one for each girl child).
   • Exception for twins/triplets.

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How to Open Sukanya Samriddhi Account Online

1. Visit Your Bank/India Post Portal:

   • Access the online banking portal of authorized banks or the India Post Payment Bank (IPPB) app.

2. Fill the Online Application Form:

   • Select "Sukanya Samriddhi Yojana" from the small savings schemes section.
   • Provide details of the girl child and guardian (Aadhaar, PAN, etc.).

3. Upload Documents:

   • Birth certificate of the girl child.
   • Address proof and ID proof of the guardian.

4. Make the Initial Deposit:

   • Deposit a minimum of ₹250 to activate the account.

5. Confirmation:

   • After successful verification, account details will be shared via email or SMS.

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Offline Account Opening Process

1. Visit the nearest post office or authorized bank branch.
2. Collect and fill the Sukanya Samriddhi Account opening form.
3. Submit documents like the girl child's birth certificate, guardian's ID/address proof, and photographs.
4. Deposit the initial amount (₹250 to ₹1.5 lakh).
5. Receive a passbook with account details.

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Withdrawal Rules

1. Partial Withdrawal:

   • Allowed after the girl turns 18 years, up to 50% of the balance for education or marriage expenses.

2. Full Maturity:

   • Maturity is achieved at 21 years or upon the girl's marriage after the age of 18.

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Benefits of Sukanya Samriddhi Yojana

• Secure Future: Ensures financial support for a girl’s education and marriage.
• High Returns: Attractive interest rates compared to other fixed-income instruments.
• Flexible Contributions: Suitable for families of all income groups.
• Tax Savings: Triple exemption (investment, interest, and maturity amount).

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Contact Information

• Official Website: https://www.indiapost.gov.in/
• Authorized Banks: SBI, ICICI, HDFC, PNB, and others.
• Helpline: Toll-free customer care of your bank/post office.

By investing in Sukanya Samriddhi Yojana, parents can secure a stable financial future for their daughters while enjoying tax-saving benefits.