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How to open Sukanya Samriddhi accounts

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A government-backed Sukanya Samriddhi Yojana (SSY) is a savings scheme for the benefit of the girl child as part of the ‘Beti Bachao, Beti Padhao Yojana’. Only one account in the name of one girl child and maximum two accounts in the name of two different girl children can be opened by a parent or a guardian.

Currently, an annual interest rate of 7. 6 percent is offered by Sukanya Samriddhi Yojana. In any authorised bank branch or a post office branch, Sukanya Samriddhi Yojana Account can be opened.

Till the completion of a period of fifteen years from the date of opening of the account, a parent can make deposits in the account. The tenure of these accounts is of 21 years or until the girl child marries after the age of 18.

No authorised bank branches or post offices allow opening an SSY Account online. One can set the standing instructions online. The account is activated after the submission of all the documents. Sukanya Samriddhi account can be opened up to the age of 10 years only from the date of birth.

One has to fill the Sukanya Samriddhi Account opening form and submit it in any one of the authorised bank branches or a post office to open the account.

One needs to submit identity documents including the birth certificate of the girl child, address proof of the guardian or parents of the girl child, and identity proof of the guardian or the parents of the girl child.

Any amount between Rs 250 and Rs 1.50 lakh can be deposited  in the account for opening the Sukanya Samriddhi Account. A passbook is issued to the account holder once the account is opened. One can also set the standing instructions either at the bank branch or through internet banking for automatic credit to Sukanya Samriddhi Account.

Account will become discontinued if the minimum Rs 250 is not deposited every year and can be revived with a penalty of Rs 50 per year with minimum amount required for deposit for that year.

The reactivation can happen until 15 years from the account opening.