SSY Account:Â You can open a Sukanya Samriddhi Yojana account in any authorized bank branch or post office branch. You can also set it up online with the facility of net banking.
SSY Account: Under Section 80C of the Income Tax Act, 1961, 8.2% interest, tax free maturity, interest and tax deduction facility is available. To take advantage of this, single families with girls below 10 years of age are opening Sukanya Samriddhi accounts. If you also want to open this account, then it is important for you to know some things.
You can open a Sukanya Samriddhi Yojana account in any authorized bank branch or post office branch. You can also set it up online with the facility of net banking.
Documents required to open a Sukanya Samriddhi Yojana account?
- SSY account opening form
- Birth certificate of the beneficiary
- Address proof of the guardian or parents of the beneficiary
- ID proof of the guardian or parents of the beneficiary
How to open a Sukanya Samriddhi Yojana account?
Fill the SSY account opening form.
Keep the documents ready along with the photograph.
Pay the deposit amount (any amount between Rs 250 and Rs 1.5 lakh)
You can also set up automatic credit for the SSY account by giving a standing instruction to your branch or through netbanking.
Who is eligible to open an account?
If you are the parent or legal guardian of a girl child below the age of 10 years.
How many accounts can you open?
Two accounts can be opened for two girls. In case of twins being born for the second time, three.
How much amount can you deposit?
You can deposit a minimum of Rs 250 to a maximum of Rs 1.5 lakh in a financial year.
What is the deposit period?
Up to 21 years from the date of opening the account.
How much interest will be received on deposits in SSY?
If the account is opened between October 1, 2024 and December 31, 2024, then the interest rate will be 8.2%.
How to open Sukanya Samriddhi Account online?
At present, both authorized bank branches and post offices are not allowing online SSY account opening. But, after submitting all the documents, you can set standing instructions online after opening the account.
What is ‘Account Under Default’?
Remember, if the amount is not deposited every year, then your account will come under ‘Account Under Default’. The account can be reactivated by paying a penalty of Rs 50 per year. Reactivation of the account can be done up to 15 years after opening the account.
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