PMSSY ~ PM Sukanya Samriddhi Yojana Online Apply, Status Check

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PM Sukanya Samriddhi Yojana online apply, PMSSY status check, eligibility, chart, advantages: Sukanya Samriddhi Yojana (SYY) is a saving scheme launched by the Government of India within the year 2014. Ministry of Women and Child Welfare, Govt. of Indian has launched the scheme as part of “Beti Bachao, Beti Padhao” campaign. PMSSY scheme is concentrated to encourage the parents to save and maximize the funds for the higher education and to fulfil the marriage expenses of the girl child. Under the PMSSY scheme, a natural or legal guardian can open an account in an authorized bank or post office on the behalf of their girl child. Sukanaya Samriddhi scheme is applicable to the entire population throughout India.

PMSSY
Scheme NameSukanya Samriddhi Yojna (SYY)
Article categoryLatest Govt Schemes
SectorFinance
Responsible MinistryMinistry of Women and Child Welfare, Government of India
RBI Notification No.G.S.R.863(E)
Launch year2014
StatusActive
Current interest rate8.5%
Scheme typeSaving scheme
BeneficiaryGirl child
ApplicabilityPAN India
Official RBI notificationCheck here
सुकन्या समृद्धि योजना आवेदन फॉर्मClick here

Benefits of PM Sukanya Samriddhi Yojna

Here we have given some of the major benefits of opening a Sukanya Samriddhi Account-

  1. There are various tax benefits under this scheme as per section 80C of the Income Tax Act.
  2. The scheme provides higher rates of interest as compared to other schemes in the market.
  3.  The minimum amount to be deposited annually in the account is too low i.e. Rs.250/-.
  4. The account under this scheme is transferable across India.
  5. Once the girl attains an age of 10 years if she wishes she may operate her account by her own.   
  6. On maturity of the account girl (having PMSSY account) gets the proceeds.
  7. It has minimal documentation requirement.

PMSSY account will be opened in any of the authorized banks or post offices throughout the nation. The account will be opened by the parents or legal guardians of the girl child offered they must submit the birth certificate of the girl and other required documents. A depositor can open and operate just one account on behalf of the girl. Guardians or natural parents are allowed to open an account under this scheme just for two girls. However, in the case of twin girls, they can open the 3rd account because the second birth or within the situation if the first birth is itself a triplet. They’ve to provide the relevant certificate in both the situations to open the account.

PMSSY account is opened with an initial balance of Rs.1000/. After that, depositors can deposit any amount to the condition that depositor should deposit a minimum of Rs.250/- and the maximum amount shouldn’t exceed one lakh fifty thousand in a single occasion or multiple occasion in a financial year. The depositor can deposit cash within the account until the completion of fourteen years from the date of account opening on the behalf of the girl. If PMSSY account isn’t maintained annually as per the rule, then such accounts may be regularised by making payment of penalty of Rs.50/- per year together with the minimum subscription amount for the year.

Sukanaya Samriddhi Mode of deposit  

Deposit in account can be made through-

  • Cash
  • Cheque or demand draft is drawn in favour concerned bank manager or postmaster.

Sukanaya Samriddhi Yojana Interest

Financial YearDate RangeMinimum investmentMaximum investmentInterest rate
2014-151st April 2014-31st March 201510001500009.1%
2015-161st April 2015- 31st March 201610001500009.2%
2016-171st April 2016- 30th Sep 201710001500008.6%
2016-171st Oct 2016-31st March 201710001500008.5%
2017-181st April 2017-30th June 201810001500008.4%
2017-181st July 2017- 31st Dec 201810001500008.3%
2018-191st Jan 2018-30th Sep 20182501500008.1%
2018-191st Oct 2018- 31st Dec 20182501500008.5%
2018-191st Jan 2019-31st March 20192501500008.5%

Sukanaya Samriddhi Documents Required

The parents/ guardians of the girl are required to submit the following documents for opening the account under PMSSY in a bank or post office-

  • Account opening form- to be obtained from the respective bank.
  • Identity proof of legal guardian/parent- It can include PAN, Passport, matriculation certificate, voter ID, driving license, or any other ID proof issued by the government of India.  
  • Address proof of parent/guardian- It can include PAN card, passport, Voter ID card, ration card, electricity bill, telephone bill, or any other proof of address issued by the Government of India.
  • Birth certificate of the child.  

PMSSY Age Limit

  • As per the scheme, only females are eligible for this scheme.
  • Only girls under the age of 10 years are eligible to open an account. It is the responsibility of their parents/ or legal guardians to open the account in the name of the daughter.
  • A slight relaxation is applicable for the girls who are born on or after 2nd December 2003.

Sukanaya Samriddhi Pass Book

On the opening of the account, a passbook is issued to the account holder. The passbook holds the name, address, date of birth of the account holder, date of opening of an account, account number, and amount deposited. Account holder/parents/guardians are required to present this passbook at the time of deposit, and at the time of final closure of the account.

PMSSY PM Sukanya Samriddhi Yojana Maturity and Partial Withdrawal

Sukanya Samriddhi Account gets mature on the completion of 21 years from the opening of the account. People have confusion that Sukanya Samriddhi Account gets mature as the girl turned 21 but this is totally false. There is no connection of age of the girl with the maturity of the account. However, the account holder can only withdraw the amount if she attains the age of 18 years and the amount is being used for higher studies and marriage. The account will be closed after its maturity. The premature closure of account is allowed in the event of the death of the account holder on the production of death certification issued by the competent authority. Then the balance is credited to the guardian and account is closed.

Authorized Banks for PM Sukanya Samriddhi Yojana

There are a total of 28 banks authorized by Reserve Bank of Indian (RBI) to open Sukanya Samriddhi Yojana accounts. Users can open PMSSY account in any of the following banks-

  1. Allahabad Bank
  2. State Bank of India (SBI)
  3. Axis Bank
  4. Andhra Bank
  5. Bank of Maharashtra (BOM)
  6. Bank of India (BOI)
  7. Corporation Bank
  8. Central Bank of India (CBI)
  9. Canara Bank
  10. Dena Bank
  11. Bank of Baroda (BOB)
  12. State Bank of Patiala (SBP)
  13. State Bank of Mysore (SBM)
  14. Indian Overseas Bank (IOB)
  15. Indian Bank
  16. Punjab National Bank (PNB)
  17. IDBI Bank
  18. ICICI Bank
  19. Syndicate Bank
  20. State Bank of Bikaner & Jaipur (SBBJ)
  21. State Bank of Travancore (SBT)
  22. Oriental Bank of Commerce (OBC)
  23. State Bank of Hyderabad (SBH)
  24. Punjab & Sind Bank (PSB)
  25. Union Bank of India
  26. UCO Bank
  27. United Bank of India
  28. Vijaya Bank

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