Thursday, 27 August 2015

Sukanya Dev Yojna – Where & How to Open Account under Sukanya Samriddhi Yojna

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What is Sukanya Dev Yojna or Sukanya Samriddhi Yojna ?



After the Beti Bachao campaign , Prime Minister Narendra Modi launched Sukanya Samriddhi Yojna in January 2015 . Sukanya Samriddhi Yojna  is a small deposit savings scheme for girl child, launched as a part of the "Beti Bachao Beti Padhao" campaign. Both Sukanya Dev Yojna or Sukanya Samriddhi Yojna are same scheme. Sukanya Samriddhi Yojnahas or Sukanya Dev Yojna  has been started in Post Offices by Haryana Government. The account can be opened in any post office or authorised branches of commercial banks. The main objective of Sukanya Samriddhi Yojna was  to encourage parents to save for the education and future of their girl child.This scheme will benefit girl child of age 1 Year to 10 Years. Parents will have to deposit Rs 1000 per month for next 14 Years, totaling Rs 1,68,000. Girl will get Rs 6,00,000 when she will become 21 Year Old.

How to Open the Sukanya Samriddhi Account?



Who can Open the Sukanya Samriddhi Account - 



The Sukanya Samriddhi Account can be opened at any time only by legal parents of girl child in the name of a girl child from the birth of the girl child with a minimum deposit of Rs 1000. A depositor or legal parents of the girl child may open and operate only one account in the name of a girl child under these rules. Natural or legal guardian of a girl child can open Sukanya Samriddhi Account in post office or bank for the girl child by providing birth certificate of a girl child


Where to Open the Sukanya Samriddhi Account - Deposits & Interest rate and exemption under Income Tax Act. ?



  • Sukanya Samriddhi account can be opened in Post Offices or authorised Banks by legal parents of girl child in the name of a girl child with a minimum deposit of Rs 1000. 
  • Account can be transferred from the original location to anywhere in India as the girl child relocates.
  • The parents will have to deposit Rs 1000 per month for next 14 Years, totaling Rs 1,68,000. The money can be deposited through cash, cheque or draft.
  • The account shall be opened and operated by the natural or legal guardian of a girl child till the girl child in whose name the account has been opened, attains the age of ten years.After attaining the age of ten years the account holder , girl child , may herself operate the account. 
  • The Sukanya Samriddhi Yojna scheme is offering an interest rate of 9.1% per year.The interest will compounded yearly shall be credited to the account till the account completes fourteen years.
  • Sukanya Samriddhi account  will be fully exempted from taxation as per Section 80C of Income Tax Act.The withdrawal shall be allowed only when the account holder girl child attains the age of eighteen years.

What Are the Documents Required for Opening an Account?



  • Birth Certificate of Girl Child
  • Identity proof of the Parent or legal guardian
  • Address proof of the Parent or legal guardian


List of Banks to Open Sukanya Samriddhi Yojana Accounts


State Bank of India (SBI)
State Bank of Patiala (SBP)
State Bank of Bikaner & Jaipur (SBBJ)
State Bank of Travancore (SBT)
State Bank of Hyderabad (SBH)
State Bank of Mysore (SBM)
Allahabad Bank
Andhra Bank
Axis Bank
Bank of Baroda (BoB)
Bank of India (BoI)
Bank of Maharashtra (BoM)
Canara Bank
Central Bank of India (CBI)
Corporation Bank
Dena Bank
ICICI Bank
IDBI Bank
Indian Bank
Indian Overseas Bank (IOB)
Oriental Bank of Commerce (OBC)
Punjab National Bank (PNB)
Punjab & Sind Bank (PSB)
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank

Also Read : 

1. Rashtriya Swasthya Bima Yojana : How To Enroll & Obtain Smart Card ?

2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)