Feb 242017
 

Sukanya Samriddhi Yojana in SBI

SSY is an initiative taken up by the Central government to save the future of the girl child in India. The initiative which was announced in the current fiscal budget speaks about the savings account for the girl child – so as to secure her financial future. With this scheme a girl child will not be a burden any more on the parents when she grows up.

India is a country where female infanticide is quite common. It is mostly done because parents perceive female child as a burden – or as an unnecessary deposit, because when she grows up she goes to another home after marriage. With the help of the SSY the government is trying to alleviate this problem by providing the means to ensure a secure future of the girl child. The main idea is to make a savings account for her so that she can be well on her feet when she grows up. It was launched officially in 2015.

In which bank is this account opened?

At present the SSY bank account is only being opened at the Post Office. Later on this account can also be opened at all nationalized banks including the State Bank of India.  The account, which is also known as the Sukanya Samriddhi account can be opened under all State Bank of India subsidiaries. This will be the most important one. Therefore, you need to know more about it.

What documents will be required to open this account in SBI?

To open the Sukanya Samriddhi account with SBI, you will need the following documents:

  • Daughter’s birth certificate
  • Photo identity proof of the legal guardian or parents of the child
  • Address proof of the legal guardian or parents of the child.

Since this scheme allows the post office and all the nationalized banks to open this account, SBI is also on the list. Also, being the number one in the nationalized banks, SBI will have a lot of these accounts being opened under it. Therefore you must know the things you will need to open your account here.

Do I need to have an existing account to open SSY account?

The Sukanya Samriddhi account will be a totally fresh account. So whether you have opened an account or not you will have to open a fresh account. The account will be in the name of the daughter. You will have to produce the above mentioned documents to open this account.

How much initial deposit is needed?

As per the official rules, an initial deposit of Rs. 1000 will be needed to open this account. After this you can deposit Rs.100 (minimum) or its multiples throughout the year into this account.

Whom to contact at the SBI bank?

Once you reach the SBI branch closest to you, you will be directed towards the person who is in charge of the Sukanya Samriddhi account. When you meet that particular official, he will guide you towards the rest of the procedure.

Take a look at the things learnt here:

Points Things you asked Important Details to Know
1 What is Sukanya Samriddhi Yojana (SSY)?

 

SSY is an initiative taken up by the Central government to save the future of the girl child in India. The initiative which was announced in the current fiscal budget speaks about the savings account for the girl child – so as to secure her financial future. With this scheme a girl child will not be a burden any more on the parents when she grows up.
2 In which bank is this account opened?

 

At present the SSY bank account is only being opened at the Post Office. Later on this account can also be opened at all nationalized banks including the State Bank of India.  The account, which is also known as the Sukanya Samriddhi account can be opened under all State Bank of India subsidiaries. This will be the most important one. Therefore, you need to know more about it.
3 What documents will be required to open this account in SBI?

 

To open the Sukanya Samriddhi account with SBI, you will need the following documents:

·         Daughter’s birth certificate

·         Photo identity proof of the legal guardian or parents of the child

·         Address proof of the legal guardian or parents of the child.

Since this scheme allows the post office and all the nationalized banks to open this account, SBI is also on the list. Also, being the number one in the nationalized banks, SBI will have a lot of these accounts being opened under it. Therefore you must know the things you will need to open your account here.

4 Do I need to have an existing account to open SSY account?

 

The Sukanya Samriddhi account will be a totally fresh account. So whether you have opened an account or not you will have to open a fresh account. The account will be in the name of the daughter. You will have to produce the above mentioned documents to open this account.
5 How much initial deposit is needed?

 

As per the official rules, an initial deposit of Rs. 1000 will be needed to open this account. After this you can deposit Rs.100 (minimum) or its multiples throughout the year into this account.
6 Whom to contact at the SBI bank?

 

Once you reach the SBI branch closest to you, you will be directed towards the person who is in charge of the Sukanya Samriddhi account. When you meet that particular official, he will guide you towards the rest of the procedure.
7 What is the need for this Yojana? India is a country where female infanticide is quite common. It is mostly done because parents perceive female child as a burden – or as an unnecessary deposit, because when she grows up she goes to another home after marriage. With the help of the SSY the government is trying to alleviate this problem by providing the means to ensure a secure future of the girl child.

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