Sukanya Samriddhi Yojana is a small savings special deposit account exclusively for a girl child, to secure the purpose of her higher education as well as her certain marriage needs. This scheme has been recently launched by the Prime Minister of India on 22 January 2015
The Sukanya Samriddhi Account can be opened by the natural parents or legal guardian of the girl child on her behalf.
What should be the age-limit of the girl child?
The Sukanya Samriddhi Account can be opened for a girl-child only between the birth till 10 years of age.
How many accounts can be opened in the name of a single girl-child?
Only one account can be opened and operated by the depositor on the behalf of a single girl-child. Parents can open maximum for two daughters . There lies one exception to this rule. The depositor is allowed to open two or more accounts if the twin girls are born during the second birth or triplets are born in one birth itself.
What is the procedure to open a Sukanya Samriddhi Account in a bank?
- The parents or the guardian are asked to submit the birth certificate of the girl child in whose name they want to open an account.
- Along with the birth certificate, some other important documents as to the identity proof are also required by the bank to open an SSA account.
- During the opening of the account, the parents or the guardian of the girl-child are asked to make an initial deposit of one thousand rupees followed by any amount of multiple hundred rupees. However, minimum one thousand rupees must be deposited in a financial year. The maximum amount of deposit to be made at a same instance is Rs. 1.5 lakhs.
- These deposits must be made within the period of 14 days from opening the account for the girl-child.
- The parents or guardian can make their contribution in the account of a girl-child for a period of 14 years.
- The mode of deposit is either cash or cheques and demand drafts.
- The Sukanya Samriddhi Account can be opened only in those banks that have been authorized for the purpose by the Central Government under this scheme. Thus, you can open the SSA for the girl-child in the SBI, SBH, Bank of Baroda, Canara Bank, Corporation Bank, UCO Bank, etc.
Relevant documents that are required in order to open the Sukanya Samriddhi Account
The most important thing while opening the Sukanya Samriddhi Account is the submission of documents. The account shall be opened only if you present all the relevant documents to the bank. Following are the useful documents required to open the SSA for the girl-child
- Birth certificate of the girl child.
- Address proof of the girl child or the natural or legal guardian of the girl child.
- ID proof.
Apart from opening a Sukanya Samriddhi Account in the banks, the Central government has also given the opportunity to open the SSA in the post office.
How to open a Sukanya Samriddhi Account in a post office?
There is no such huge difference in between the banks and the post office in regard to opening a Sukanya Samriddhi Account. Following points must be considered and procedure must be followed while opening SSA in the post office
- All the important documents must be presented in the post-office.
- An account shall be opened by the legal or natural guardian of the girl child.
- A minimum deposit of Rs.1, 000 and a maximum deposit of Rs. 1, 50,000 is required to be made in a financial year. Later, multiple deposits in hundreds can be made.
- The mode of payment is either cash or cheque that is to be given to the post-master of the particular post-office along with an endorsement on the back of such instrument, duly signed by the depositor which indicates the account-holder’s name as well as the account number.
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