Sukanya Samriddhi Yojana or SSY is a government-backed savings scheme. It is also a part of the Beti Bachao, Beti Padhao Yojana for the well-being of a girl child. The scheme encourages parents or guardians to open up to two such accounts for two girl children. These come with a tenure of 21 years or until the girl gets married after 18 years.
In this article, we will cover how to open a Sukanya Samriddhi account. So, let’s begin!
You can open a Sukanya Samriddhi account via an authorised bank branch or a post office. However, you must know that at present, authorised bank branches or post offices do not allow the opening of a Sukanya Samriddhi Yojana account online. Once you open the account after submitting all the necessary documents, you can easily set standing instructions online.
In order to open an account through a bank, simply follow the following steps:
Your SSY account will be opened as soon as the application is successfully processed. Furthermore, a passbook is issued, thereby marking the initiation of your Sukanya Samriddhi account.
You can also take the other route and open a Sukanya Samriddhi account via a post office. Just follow these steps:
The post office will assess the application and issue a passbook when the account is opened.
As discussed earlier, you can open an account at a post office or an authorised bank branch. If you are looking for an answer to the question ‘how to open a Sukanya Samriddhi account online,’ you would be disappointed to know that there isn’t a provision.
However, which bank should you opt for when opening a Sukanya Samriddhi Yojana account?
The Reserve Bank of India authorises several banks to open a Sukanya Samriddhi account and you can take a pick from the following:
If you are planning to open a Sukanya Samriddhi account, we believe that you must be familiar with the specifics of this scheme. Therefore, here are some points to keep in mind before you invest in Sukanya Samriddhi Yojana:
And that sums up everything you needed to know on how to open a Sukanya Samriddhi account. Now that you are well-versed with its ins and outs, opening an SSY account should be an easy undertaking.
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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