Sukanya Samriddhi Yojana 2021 | Sukanya Samriddhi Yojana Online Form | Sukanya Samriddhi Yojana Calculator | Sukanya Samriddhi Yojana Interest Rate

Overview

Many schemes are being run by the Government of India to make the future of daughters of the country bright. One such scheme is Sukanya Samriddhi Yojana. Today we are going to provide you all the important information related to Sukanya Samriddhi Yojana through this article. Like what is Sukanya Samriddhi Yojana? Its purpose, benefits, features, eligibility, important documents, application process etc. So friends, if you want to get all the important information related to Sukanya Samriddhi Yojana 2021 , then you are requested to read this article till the end. We will share with you all the information related to Sukanya Samriddhi Yojana through this article of ours.

Sukanya Samriddhi Yojana 2021

Sukanya Samriddhi Yojana has been launched on 22 January 2015 by the Prime Minister of our country, Shri Narendra Modi. Under this scheme, savings account for the daughter will be opened by the parents of the daughter in any national bank or post office. All the parents who want to deposit money for their daughter’s education and marriage can open a savings account under this scheme. The minimum amount to open this account is ₹ 250 and the maximum amount is 1.5 lakh rupees. Earlier , under Sukanya Samriddhi Yojana 2021 , there was an interest rate of 9.1 percent, which has now been reduced to 8.6 percent.

How many daughters can get benefit under Sukanya Samriddhi Yojana?

Under Sukanya Samriddhi Yojana 2021 , only two daughters of one family can get benefits. If there are more than 2 daughters in a family, then only two daughters of that family can take advantage of this scheme. But if there are twin daughters in a family, then they will get the benefit of this scheme separately, that is, then three daughters of that family will be able to benefit. The number of twin daughters will be the same but their benefits will be given separately. Under this scheme, all those who want to deposit their daughter’s account for marriage and education can open their daughter’s account. Let us tell you that under this scheme the account of girls below the age of 10 years can be opened. Sukanya Samriddhi Yojana has been launched by the government under Beti Bachao, Beti Padhao scheme.

Sukanya Samriddhi Yojana loan

Loans can be availed under various PPF schemes run by the government. But loans like other PPF scheme cannot be availed under Sukanya Samriddhi Yojana. But if the girl child turns 18, then withdrawals can be made from the account of this scheme by the parents. This withdrawal can only be made at 50%. Withdrawal done under Sukanya Samriddhi Yojana can be done for the betterment of girls. This amount can be used for girl’s marriage, higher education etc. Sukanya Samriddhi Yojana In Highlights

Name of schemeSukanya Samriddhi Yojana
Started byBy the central government
BeneficiaryCountry girls
an objectiveMake daughters future bright
Official website 

Sukanya Samriddhi Yojana Account Transfer

Under Sukanya Samriddhi Yojana, accounts can be transferred from one post office to another post office or from one bank to another bank. To transfer this account, you have to follow the following procedure.

  • First of all, you will have to go to the post office or bank with your updated passbook and KYC documents. Girls are not required to be present during the transfer.
  • After this, you have to submit the passbook and KYC document of your Sukanya Samriddhi account to your bank or post office and inform your bank and post office that you have to transfer your account.
  • Afterwards, the manager will close your account in the old post office or bank and will give you the transfer request. Apart from this, you will be asked for all the necessary documents.
  • Now you have to take this transfer request and go to a new post office or bank account and submit all these documents there.
  • You will also have to submit KYC documents for proof of identity and address.Now you will be given a new passbook which will display your balance.
  • After this, you can operate Sukanya Samriddhi Yojana account with this new account.

Sukanya Samriddhi Yojana December update

India Post operates nine types of savings schemes. Which are known as Post Office Saving Scheme. These 9 types of schemes are Post Office Saving Account, Post Office Time Deposit Account, Post Office Monthly Income Scheme, Public Provident Fund, Sukanya Samriddhi Yojana, National Saving Certificate, Post Office Time Deposit for 5 years, Kisan Vikas Patra and Senior Citizen Saving Scheme is included. The interest rate of all these savings schemes are amended from time to time by the government. Sukanya Samriddhi Yojana currently has an interest rate of 7.6 percent.

This scheme can be availed by a maximum of two daughters of a family. Under this scheme, when the child attains the age of 21 years, he can receive the test amount. If it is assumed that the interest rate under this scheme will be 7.6 percent in future, then it will take 9.4 years to double the amount deposited under this scheme.

Sukanya Samriddhi Scheme Account Reopening Procedure

As you all know Sukanya Samriddhi Yojana was started by the Government of India under Beti Bachao Beti Padhao scheme. Under this scheme, an account can be opened for the daughter’s education and marriage before the age of 10 years. This is a very popular scheme. Under Sukanya Samriddhi Yojana , a minimum amount of ₹ 250 and a maximum of ₹ 1.5 lakh can be deposited in the account every year. It is mandatory for the beneficiary to deposit ₹ 250 per year to continue this account. If the beneficiary has not deposited ₹ 250 in any year, then his account will be closed.

  • After the account is closed, the account can be activated. For this, the beneficiary will have to go to the bank or post office wherever his account is open. After this, the beneficiary will have to fill and submit the account to get the account revived and pay the outstanding amount.
  • Suppose you have not paid ₹ 250 for 2 years, then you have to make a payment of ₹ 500 and a penalty of ₹ 50 per year. The penalty for 2 years will be ₹ 100. So if you have not paid the minimum amount in Sukanya Samriddhi Yojana account for 2 years then you will have to pay at least ₹ 600. There will be a minimum amount of ₹ 500 two years and ₹ 100 for two years penalty.

Sukanya Samriddhi Scheme New Update

The economic activity of the Indian economy has been significantly impacted by the Corona virus in the country. The government announced a cut in interest rates last month for small savings schemes, including SSY, after the repo rate was slashed towards RBI. Interest rates on office recurring deposits (RD) and time deposits were reduced by 1.4 per cent for 1-3 years, PPF and SSY were cut by 0.8 per cent. This will reduce the maturity amount for your daughter. After reducing the interest rate under this Sukanya Samriddhi Scheme , the annual rate of interest in the accounts of the beneficiary has come down to 7.6 percent as compared to the earlier 8.4 percent.

How much money will have to be paid annually and by when?

Under Sukanya Samriddhi Yojana, there was a provision to give ₹ 1000 per month. Which has now been worked out to ₹ 250 per month. Investments from ₹ 250 to ₹ 150000 can be made under this scheme. Under this scheme, it will be mandatory to invest for 14 years after opening a bank account.

Changes made in Sukanya Samriddhi Yojana

Five changes have been made by the government under this scheme, which you should know about is very important. We have given below about these five changes . You should read this information carefully .

High interest rate on default account

Under Sukanya Samridhi Yojana , if a person does not deposit a minimum amount of Rs 250 in a year in Sukanya Samriddhi account, then it is considered as a default account. According to the new rule notified by the government on December 12, 2019, now the interest rate will be given on the amount deposited in such a default account as fixed under this scheme. An interest rate of 4% will be available on the account.

Change in rules for closing premature account


According to this new rule, the account can be closed before maturity on the basis of death
or sympathy of the girl under this scheme . Sympathy refers to the situation in which the account holder has to undergo treatment for a fatal illness or death of the guardian. In that case the bank can close the account before the maturity period .

Account of operations

Under this scheme, the government of the new rules by the child’s account name, he was not until 18 years as long as are its operating account its take in hand, while you can before
the age of 10 years. When the child turns 18, the guardian will have to submit documents related to the child to the post office. Two girls with more of the account open According to the new rule under this scheme, if a person has to submit additional documents to open
an account of more than two daughters , now you are also required to submit an affidavit along with the daughter’s birth certificate .

Other changes

In addition to the above changes in the rules of Sukanya Samridhi Yojana , some new provisions have been added, while some have been removed. It has not been clarified about them yet. As soon as we get some information about it, we will let you know through our article.

Objective of Sukanya Samriddhi Yojana 2021

The aim of the scheme is to promote girls in the field of education and to not let the lack of money on being eligible for marriage. The poor people of the country can easily meet their daughter’s education and expenses in marriage and their daughter. Account can be opened in the bank for a minimum of 250 rupees. With this SSY 2021 , the girls of the country will get encouragement and will be able to move forward. Preventing feticide of girls through this scheme.

Interest Rate in SSY 2021

Financial year Interest rate
From April 1, 2014 9.1%
From April 1, 2015 9.2%
From April 1, 2016 –June 30, 2016 8.6%
From July 1, 2016 – September 30, 2016 8.6%
From October 1, 2016 – December 31, 2016 8.5%
From January 1, 2018 – March 31, 2018 8.3%
From April 1, 2018 –June 30, 2018 8.1%
From July 1, 2018 –September 30, 2018 8.1%
From October 1, 2018 – December 31, 2018 8.5%
From July 1, 2016 8.4%

SSY Scheme 2021

After opening an account under this scheme, this account can be run till the girl turns 18 or after 21 years of marriage. Under SSY 2021 , a person can withdraw 50% of the total deposit for his or her studies after the girl turns 18 years of age and can withdraw the entire deposit for the marriage after the daughter turns 21, in which the beneficiary deposits The amount paid and the interest paid by the agency will also be included. This account will mature only when the daughter is 21 years old. 

How to deposit funds in Sukanya Samriddhi Yojana Account

Sukanya Samriddhi Yojana 2021 account can be deposited by cash, demand draft or can be deposited by electronic transfer mode in the post office or bank where the core banking system is present, to open the account, name and account holder name will have to be written. In all these easy ways, any person can deposit money in his daughter’s account.

Account can be opened till the age of: Sukanya Samriddhi Yojana

Under Sukanya Samriddhi Yojana, the daughter’s bank account can be opened from 0 to 10 years of age. Bank account cannot be opened under this scheme if the daughter’s age is more than 10 years. The account will be operated by the daughter’s parents or guardian.

SSY Sukanya Samriddhi Yojana Maturity and Partial Withdrawal

Some people think that Sukanya Samriddhi account matures with the age of 21 but it is completely wrong. The age of the girl has no relation with the maturity of the account. However, the account holder can withdraw the amount only when he attains the age of 18 years and the amount is being used for higher studies and marriage. The account will be closed later. Premature closure of account is allowed in the event of death of the account holder on production of death certificate issued by the competent authority. The balance is then credited to the parent and the account is closed.

Under what conditions can Sukanya Samriddhi account be closed before maturity?

If the account holder dies, Sukanya Samriddhi Yojana account can be closed. In this case, it will be mandatory to show the death certificate of the account holder. After which the amount deposited in this account will be returned to the daughter’s guardian along with interest. Apart from this, Sukanya Samriddhi Yojana can be closed due to any reason even after 5 years of opening the account. In this situation, the interest rate will be available according to the savings bank account. 50% of the funds from the account can also be withdrawn for the daughter’s education. This withdrawal can be done only after the daughter turns 18.

What will happen if Sukanya Samriddhi is not deposited under the scheme?

If for some reason the account holder fails to deposit the amount under Sukanya Samriddhi Yojana , then he will have to pay a penalty of ₹ 50 per annum. And with this, the minimum amount to be paid every year. If the penalty is not paid, the Sukanya Samriddhi Yojana account will get an interest rate equal to the savings account which is four per cent.

PM Kanya Yojana Tax Benefit

Under Section 80C of the Income Tax Act 1961, the amount deposited in Sukanya Samriddhi Yojana , the amount of interest and maturity amount is tax free. A rebate has been provided by the government on contributions made under this scheme, which is up to ₹ 150000 per year.

Sukanya Samriddhi Scheme tax benefits

  • As per the Income Tax Act, all investments made under this scheme are eligible for the benefit of tax deduction. A maximum tax deduction of 1.5 lakh is allowed towards SSY.
  • Under this, interest is credited, which is credited to the account on an annual basis. There is no tax levied on this earned / accumulated interest. This allows the funds under the scheme to be maximized.
  • The tax exemption can be claimed by either the girl’s parents or legal guardian. Only a depositor is eligible for tax exemption under Section 80C of the Income Tax Act.

Key facts of Sukanya Samriddhi Yojana 2021

  • Under this scheme, any person of the country can open the account of their daughter below 10 years of age.
  • Sukanya Samriddhi Yojana 2021 provides tax exemption under section 80 of Income Tax Act 1961. Remaining amount will be received after maturity of SSY.
  • Under this scheme any girl’s account can be opened for a minimum of Rs. 250.
  • Under this scheme, the amount deposited in the account after the age of 18 years can withdraw 50% of the total deposit for studies and the full amount can be withdrawn for the daughter’s marriage when she is 21 years
  • Sukanya Samriddhi Yojana 2021  is a small savings scheme of the Central Government for daughters.
  • Under this scheme, beneficiaries can open accounts for their daughter in all these banks, Nationalized Bank, Post Office, SBI, ICICI, PNB, Axis Bank, HDFC, etc.

Authorized bank for Sukanya Samriddhi Yojana

There are a total of 28 banks authorized by the Reserve Bank of India (RBI) to open Sukanya Samriddhi Yojana accounts. Users can open SSY account in any of the following
banks and avail this scheme

  • Allahabad Bank
  • State Bank of India (SBI)
  • axis Bank
  • Andhra Bank
  • Bank of Maharashtra (BOM)
  • Bank of India (BOI)
  • Corporation Bank
  • Central Bank of India (CBI)
  • Canara Bank
  • Dena Bank
  • Bank of Baroda (BOB)
  • State Bank of Patiala (SBP)
  • State Bank of Mysore (SBM)
  • Indian Overseas Bank (IOB)
  • Indian Bank
  • Punjab National Bank (PNB)
  • IDBI Bank
  • ICICI Bank
  • Syndicate bank
  • State Bank of Bikaner and Jaipur (SBBJ)
  • State Bank of Travancore (SBT)
  • Oriental Bank of Commerce (OBC)
  • State Bank of Hyderabad (SBH)
  • Punjab and Sindh Bank (PSB)
  • Union Bank of India
  • Uco bank
  • United Bank of India
  • Vijay Bank

Benefits of PM Kanya Yojana 2021

  • The benefit of this scheme will be provided to girls below 10 years of age.
  • Under Sukanya Samriddhi Yojana , guardians of girls can open a savings account for them. Until that girl turns 10.
  • Under this scheme a maximum of Rs 1.5 lakh can be deposited during the current financial year.
  • Under PM Kanya Yojana 2021 , you can easily secure the future of your daughters.
  • This will help in your girl’s education or marriage.
  • You can easily start this scheme at any bank or post office.
  • This scheme is beneficial for both the girl and her parents / guardians as it helps both.
  • A parent or natural parent is allowed to open an account under this scheme for only two girls.
  • The depositor can deposit money in the account from the girl till the completion of fourteen years from the date of opening of the account.

SSY 2021 Documents (Eligibility)

  • To open an account under this scheme, the girl’s age should be less than 10 years.
  • Aadhar Card
  • Baby and parents photo
  • Girl Child Birth Certificate
  • Residence proof
  • Depositor (parent or legal guardian) ie PAN card, ration card, driving license

Rules for opening accounts under Sukanya Samriddhi Yojana

Under Sukanya Samriddhi Yojana, the account can be opened or opened by the parents or legal guardians of the daughter. This account can be opened from the birth of a daughter till she is 10 years old. Under Sukanya Samriddhi Yojana only one account can be opened for a daughter and at the time of opening the account, daughter’s birth certificate has to be submitted to the post office or bank. Along with this, other important documents such as identity card and proof of address will also have to be submitted.

Sukanya Samriddhi Yojana 2021 Account Opening Application Form

  • Interested beneficiaries who want to apply for opening a savings account under this scheme, they must first download the Sukanya Samriddhi Yojana Account Opening Form.
  • After this, the application form will have to be filled with all the necessary information. After filling all the information, all the necessary documents will have to be attached to the form.
  • Then the application form and documents have to be submitted along with the amount to the desired bank and post office

Procedure for checking account balance under Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana was launched by the Government of India. Under which 7.6 percent interest is provided on the investment. The pass book of Sukanya Samriddhi Yojana can be accessed through both online and offline channels. You can check your account balance very easily under Sukanya Samriddhi Yojana. Sukanya Samriddhi Yojana accounts are currently providing more than 25 banks. You have to open your account by going to these banks. After this you will be provided with a passbook by the bank. You can check your account balance under Sukanya Samriddhi Yojana through passbook. This account balance can be checked digitally or through account statement. To check the key balance, you have to follow the following procedure.

  • First of all, you have to request to provide you login credentials in your bank.
  • These login credentials are not provided by all banks. Only a few banks provide this facility.
  • After getting the login credentials, you have to log in to the bank’s Internet banking portal.
  • After this, the home page will open in front of you.
  • Now you have to click on Confirm Balance option.
  • As soon as you click on the confirmed balance option, the amount of Sukanya Samriddhi account will open in front of you.
  • Only through this Sukanya Samriddhi account balance can be checked.

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