List of Banks Offering SSY

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Introduction

The Government of India launched the Sukanya Samriddhi Yojana (SSY) under the Beti Bachao Beti Padhao campaign to encourage parents to save for their daughter’s education and marriage, ensuring a secure future for the girl child. List of Banks Offering Sukanya Samriddhi Yojana offers attractive interest rates, tax benefits, and a simple account opening process, making it one of the best long-term savings schemes for a girl child in India.

Banks offering Sukanya Samriddhi List – Banks Where You Can Open an SSY Account

The government has authorized several public and private sector banks to offer Sukanya Samriddhi Yojana accounts. Here’s the complete list of Banks offering Sukanya Samriddhi:

Public Sector Banks:

State Bank of India (SBI)
Punjab National Bank (PNB)
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Indian Bank
Indian Overseas Bank
UCO Bank
Union Bank of India
IDBI Bank

Private Sector Banks:

HDFC Bank
ICICI Bank
Axis Bank

Note: Most of these banks offer SSY accounts across their branches. It’s always advised to confirm with the nearest branch about SSY account availability before visiting.

You may also want to know the Axis Bank Sukanya Samriddhi Yojana

Eligibility Criteria to Open an SSY Account

To open an SSY account, the following eligibility norms apply:

The account can be opened by parents or legal guardians of a girl child.
The girl child must be a resident Indian.
The girl’s age should be below 10 years at the time of opening the account.
One account per girl child is allowed.
A family can open accounts for a maximum of two girl children.
Exceptions are made in case of twin or triplet girl children.

Important Aspects of the Sukanya Samriddhi Yojana

Understanding the key aspects of the SSY scheme helps in better financial planning:

Minimum Deposit: INR 250 per financial year.
Maximum Deposit: INR 1.5 lakhs per financial year.
Interest Rate: One of the highest among small savings schemes. (Currently 8.2% per annum – subject to quarterly revisions by the government).
Tenure: 21 years from the date of account opening.
Deposits Duration: Contributions are required only for the first 15 years.
Premature Withdrawal: Up to 50% of the balance for higher education once the girl reaches 18 years.
Tax Benefits: Exempt under Section 80C of the Income Tax Act. Interest earned and maturity amount are also tax-free.

Opening an SSY Account: Step-by-Step Process

Here’s how to open an SSY account at any authorized bank:

Stepwise Process to Open an SSY Account:

Visit the nearest branch of an authorized bank.
Ask for the SSY account opening application form.
Fill in all required details correctly.
Submit the form along with the necessary documents:
- Birth certificate of the girl child.
- ID proof and address proof of parent/guardian (Aadhaar, PAN, Passport, etc.).
- Recent photographs.
Deposit a minimum amount of INR 250.
Once the officials process the application, they open the account and issue a passbook.

Tip: Many banks now also offer online downloads of the SSY application form to simplify the process.

Online Availability of SSY Forms

Some banks offer the SSY Account opening application form online on their official websites. You can download, fill it out, and submit it at the branch along with the documents. Though the process is largely offline for now, online updates regarding balances and interest credits are available via net banking in some banks.

You may also want to know Pradhan Mantri Awaas Yojana Gramin

Documents Required for Opening an SSY Account

Duly filled SSY account opening form
Girl child’s birth certificate
Photo ID of parent/guardian (Aadhaar/PAN/Voter ID)
Address proof (Utility bill/Passport/Driving License)
Passport-size photographs

Benefits of the SSY Scheme through Authorized Banks

Safety & Security: Offered by trusted government banks and regulated by the Finance Ministry.
Accessibility: Available at a wide network of bank branches across India.
Attractive Returns: One of the highest interest-yielding schemes.
Tax-Free Growth: Tax exemption at the time of investment, interest accrual, and maturity.
Flexible Deposit: As low as INR 250 allows contributions even during tough financial times.
Long-Term Savings: Maturity after 21 years ensures ample funds for education or marriage.

Things to Keep in Mind

Regular deposits are necessary to keep the account active.
In case of non-payment, a penalty of INR 50 is charged.
Account can be transferred between banks and post offices anywhere in India.
Partial withdrawal is allowed for education or marriage.

Conclusion

The Sukanya Samriddhi Yojana (SSY) is a thoughtful initiative that ensures the financial independence of a girl child through disciplined long-term savings. With its high interest rate, tax benefits, and simple account opening process, it remains one of the most preferred schemes for parents. The widespread availability through both public and private banks makes it accessible to every Indian household.

By choosing any of the banks offering Sukanya Samriddhi Yojana Bank List, parents can easily open an account for their daughter and build a secure financial future. Whether you prefer nationalized banks or private sector ones, you can open SSY accounts at most branches, contribute to your child’s dreams, and enjoy both financial returns and tax relief. Don’t wait, open an SSY account today and invest in her brighter tomorrow.

Frequently Asked Questions

What is the Sukanya Samriddhi Yojana (SSY)?

SSY is a government savings scheme for the girl child under the Beti Bachao Beti Padhao initiative, offering high returns and tax benefits.

Which banks offer SSY account services?

Major public and private sector banks like SBI, PNB, HDFC, ICICI, and Axis Bank are authorized to offer SSY accounts.

What documents are required to open an SSY account?

You’ll need the girl’s birth certificate, parent/guardian’s ID and address proof, and passport-size photos.

Can I open an SSY account online?

Currently, the application process is offline, but some banks allow downloading the form online.

What is the minimum deposit amount?

The minimum deposit is INR 250 per financial year.

What is the interest rate on SSY?

As of the latest update, it is 8.2% per annum (subject to quarterly revision).

Can the SSY account be transferred between banks?

Yes, the account can be transferred across authorized banks and post offices.

How many SSY accounts can be opened per family?

A family can open up to two accounts for two girl children (exceptions apply for twins or triplets).

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