Sukanya Samriddhi Yojana – Application Form & List of Banks to Open an Account

This post is written by Shiv Kukreja, who is a Certified Financial Planner and runs a financial planning firm, Ojas Capital in Delhi/NCR. He can be reached at skukreja@investitude.co.in

It has been over a month now since the government launched the “Sukanya Samriddhi Yojana” on January 22nd. But, no authorised public sector bank has the details or the application form of this scheme till date to help investors open an account. Even the post offices are not providing the application form or the details of the scheme easily.

On behalf of the general public, I would like to ask the government why do we announce such schemes when we do not have the basic infrastructure to help those for whom these schemes are being launched? I know I’ll not get any reply, but I really want to know when will our governments or public sector offices start working in an efficient manner?

Why don’t we privatise our post offices, banks or such other public sector organisations which have been operating highly inefficiently for years and years now? If we cannot privatise these organisations due to political compulsions, why don’t we make them improve their efficiency levels?

Yesterday I posted various salient features of this scheme and today I received a few emails asking for the list of banks where this account can be opened. I also got queries asking for the application form to open an account. Here is the extract of one such mail.

Hello Mr. Kukreja,

I just read your article and your views over Pradhanmantri Sukanya Samriddhi Yojana. It was fabulous to read. Very clear and understanding information.

Actually i need a help or say favour from you. Am trying to get the Account Opening Form of above said scheme, but i didnt find any. Could you pls mail me the form of the same, so that without wasting any time i can proceed with the investment.

If you say that, collect from the post at nearby my residence, well sir i have inquired but they have none.

So its a kind request to you.

Overall thanks once again for your information and guidance.

Application Form for opening a Sukanya Samriddhi Account in a Post Office

To open an account under this scheme, the application form is still not available on the website of India Post. However, you can use this application form for getting your account opened with any of the post offices. I have downloaded this form from the website of India Post itself. Though this application form is still not updated, with ‘SSA’ missing on the top of this form, I have been told that the post offices will not refuse to accept this form.

However, here is one more link to the application form with which you can download the updated application form.

You can also print the application form from this circular of the Department of Posts, Ministry of Communications & IT, dated January 21, 2015. This circular also has the Notification No. G.S.R. 863(E) dated December 2, 2014, having all the rules & regulations of Sukanya Samriddhi Yojana. This circular has the application form on the 9th page.

List of Banks which have been authorised to open Sukanya Samriddhi Account

Here is the list of scheduled commercial banks which have been authorised to open accounts under Sukanya Samriddhi Yojana:

* State Bank of India (SBI)

* Bank of Baroda (BoB)

* Punjab National Bank (PNB) – Website Link – Contact No. – 011-25744370

* Bank of India (BoI)

* Canara Bank

* UCO Bank

* United Bank of India

* Andhra Bank

* Allahabad Bank

* Indian Bank

* Corporation Bank

* Central Bank of India

* IDBI Bank

* Dena Bank 

Once these banks upload the application form on their respective websites, I’ll share the links to their forms in front of their names.

I am sure many of you must be facing difficulties in getting the required information about this scheme and also you would be in a hurry to open this account before the financial year ends. I would advise you to approach post offices as of now because some of the banks will take their own sweet time to get their branch personnel updated. I am sure you will get the option to migrate to the bank of your choice at a later date.

If you get any useful info/link regarding this scheme or have any of your good/bad experiences or any query, please share it all here.

1,575 thoughts on “Sukanya Samriddhi Yojana – Application Form & List of Banks to Open an Account”

  1. hello sir
    pls let me know whether monthly deposits can be made from the salary itself since i m employed in State govt

    1. Hi Uma,
      I don’t think this scheme will operate in this manner and allow you to get the amount deducted from your salary itself. However, you are allowed to deposit any amount of your choice yourself every month in this scheme.

  2. Hi Shiv,

    I am mother of a five year old special kid. My daughter was born abroad when I was doing my higher studies there. So her nationality is not Indian. Because of her health conditions we are now in India and she has a PIO card as both of her parents are indian citizens. I was wondering if I can apply for sukanya samrudhi account for her. I checked RBI website and it says PIO card holders are eligible for post office savings and some other kind of bank accounts as well. But since this is a new scheme I would really appreciate if you can give me a clarification on this.

    Many Thanks,

    L-

    1. Hi Lekshya,
      I don’t want to tell you something which I myself don’t know for sure. It is still not clear whether NRIs/OCIs/PIOs can invest in this scheme or not. You’ll have to wait for further clarity in this matter.

    1. monthly 1000 rs need to pay but not mandatory. but in the year u have to pay 1000 followed by 100 rs per month also acceptable.

  3. Hi shiv
    Am a mother of cp child i want to open this account to keep my kid insafe firstly i would like thank from my bottom of my heart to our prime minister for introducing such scheme .if we get it as early as possible means we like below middle class people feel happy about our kids future so please kindly help me to open this account with clear steps .
    Thank you and your replies are good

    1. Hi Divya,
      First of all, sorry to know about your child! I am sure she must be a special one, God gifted!

      Moreover, I would like you to visit this post as well – http://www.onemint.com/2015/03/03/sukanya-samriddhi-yojana-tax-free-small-savings-scheme-for-a-girl-child/

      It has all the details about this scheme. Also, most of the banks/post office branches still do not have the complete details about the scheme. So, please wait for a few more days for the banks to get their staff updated and then you can approach any of your nearby bank branches or post offices to get this account opened. You just need birth certificate of your child and your identity proof & residence proof to get this account opened.

  4. sir i get the message from facebook., is that correct or wrong (((Important msg for those who have
    girl child.. In Post Office a New
    Scheme called ‘Sukanya samriddhi’
    has started.. If ur daughter is below
    10 years, u can join in this scheme.. U
    have to pay Rs.1000 as deposit and
    then monthly 100rs u have to pay till
    her 21st age.. At the age of 21 u wil
    get 6,50,000 ( Six Lakhs fifty
    thousand) for her marriage.. Its a govt
    scheme.. So make use of it.. Pls pass
    to ur friends those who have girl
    child.. This is only for girl child.. Get d
    information from the nearby post
    office.. 9.1% intrest compounded
    annually…))))

    1. Hi Aswin,
      Majority of this information is correct. For correct & comprehensive information, please read the written article above. If you still have any queries after reading this article, please let me know.

  5. I visited pnb and SBI on 1st march 2015 when i asked for sukanya account the bankers said what is it we do not have any information regarding this.

  6. Thanks Sir…… but again i have a dought….. my daughter age is 8yrs. Now, if I opt this scheme now & after 4 years when my daughter age is 12 which is underage & some misappening is happened with me. Than what…..?
    As thair is no nomination & other facelity

    1. Under such kind of special circumstances, legal guardian of the child would be required to make a request to prematurely close the account and withdraw the amount. Some legal formalities would be required like producing death certificate etc.

  7. Can NRI invest in the scheme for their daughters and also can the investment be done from NRI account.

    1. Hi Mahesh,
      It is still not clear whether NRIs can invest in this scheme or not. As NRI investment is not allowed in PPF, I am assuming that the government will not allow it for this scheme as well. So, you’ll have to wait some more time for further clarity.

            1. Grand Parents have to be legal guardian to open this account. It seems difficult to open an account for the girl child in this case, but you’ll have to wait some more time to get clarity on this.

  8. Sir,

    I find your articles really good cos it’s simple n sensible. I want to know if the name of the baby is mandatory as she is an infant. And also notify me if any other good saving schemes are available

    Regards
    Nuthan

  9. Dear Mr. Kukreja,

    Just want to know, in case of death of depositor (Parents Or Guardian), what will happened…..?

  10. Today I visit the Indian bank and corporation bank phillaur branch but they day we not know about sukanya suraksha yojna and they not opened my girl account.why central govt and banks haras the customers.Thanks

  11. Good article. But then, when nobody knows how to open an account, what is the use? Post offices are a strict no,no. Online facility is not there. For each transaction one needs to go twice. Staff is rude.

    1. Thanks!
      We all know how our post offices/public sector banks work. Nobody can do anything about it. But, I think we all should also be sensible. Why do all of us want to open the account today itself? Why not wait for a few more days for the things to settle down? Why not wait for the next financial year’s interest rates to get announced? Post office & public sector bank staff has always been rude to its customers. The government needs to do something about it.

  12. Dear Shiv,
    Is this scheme applicable only for 5 years Child or below 5years can also apply for the same? What is the minimum age limit for applying this scheme?

    1. Dear Jitender,
      You can open this account in the name of a new born baby girl as well, there is no mention of 5 years of age. The age limit also is 10 years and not 5 years. As the scheme has just started, one year grace period has also been given which makes it 10 + 1 = 11 years. You can open this account in the name of a girl child who is born on or after December 2, 2003.

  13. Today I gone to draw sukanya yojana account but officer said that come on Monday( post office chimur )pin 442903 they are not interested and trouble the people.

    1. Mr. Finance Minister, are you listening to these guys? Post Office officials need to change their attitude towards client servicing or they will lose out all their business to private sector banks/courier companies/mutual funds in the next few years.

  14. Dear sir,
    Spouse We are regular paid 1000/- 14 year aftar 21 year how many rupees collect of Sukanya Samriddhi Yojana.

    8059353565

    1. Dear Rajesh,
      It is not possible to calculate the maturity amount in this manner as it’ll really depend on the rate of interest and time of your investment every year. But, based on certain assumptions and 9.1% rate of interest, it should be Rs. 52,605 after 21 years.

  15. Nice information Shiv,

    I think for Banks all branches will not get the forms to open this scheme. Means in every city there will be some dedicated branches will only operate Sukanya Samriddhi Account. Do you have any information regarding this?

    Although I have visited Andhra Bank and HDFC bank in Hyderabad, but they have no updated information. In post office people are very cool and relaxing attitude. They gave me the old account opening form only. When I asked them they said one can open SSA with that form also.

    1. Thanks Santanu,
      Yes, you are right, all branches of these banks will not be accepting these deposits. But, I’ve no info regarding those branches which would be accepting these deposits. I don’t think HDFC Bank would be interested in servicing this scheme, but Andhra Bank should accept these deposits at some later date. Post Offices need to upgrade their personnel and infrastructure. There is huge potential these post offices have.

      1. Dear Shiv

        I have approached SBI, PNB, BOB but there is no update on opening of account.

        Regards
        Piyush

        1. Dear Piyush,
          I know there is no info these banks have as yet. They’ll take their own sweet time to get their staffs updated. Just relax and wait for the things to settle down. You’ll easily be able to open this account in a few days time.

    2. POST OFFICE VS LIC
      Call me if you required Lic policy 9880484598

      Concept of insurance is more important when it comes for long term savings Like Child Education / Marriage.
      1. NAME : SUKANYA SAMRUDHI YOJNA | LTD ENDOWMENT PLAN.

      2. POST OFFICE offers 9.1% Rate of interest compounded. it is guaranteed only for 1 year only.

      Lic offer you Insurance + Guaranteed Return. it is guaranteed for 21 yrs.

      3. Premium
      Post office :- Pay Rs 12000 for 14 year and Get Rs 6 lacs on 21 st year

      Lic :- Save premium Rs 22,500 on 21st year get Rs 6,32,400.

      4.Payment
      Post office :- Total Premium paid 1,68,000
      Lic :- total Premium paid 2,02,500

      5. Premium Holiday
      Post office :- No need to pay for 7 yrs.
      Lic:- No need to Pay for 12 yrs

      6. Insurance
      Post office :- Zero.
      Lic :- 3 Lakh Normal Death & 3.75 lakh on Accidental.

      7. Death Due to Accident
      Post office :- Zero
      Lic Scheme:- 300000 lacs + 375000=675000 lacs.

      8.Term ride
      Post office :- zero
      Lic Available so in case of accidental death 9,75,000 will be paid.

      9. Diability benefit
      Post office :- zero
      lic :- Built in Permanent Disability benefit and payable as per rule.

      10. Situation in case of premium paying member’s death
      Post office :- Familiy sitll have to pay 12,000 per year till 14 th year.
      Lic :- No need to pay and family gets 6.75 lacs immediately in case of accidental death (and in case of natural ddeath family gets 3 lakh = bonus amount).

      11. who can take:-
      Post office :- only Girl child.
      Lic :- Father or mother can take this scheme and nominate their son or daughter for schemes.

      12. Result
      Post office :- Tension Tension
      lic :- NO tension.
      Call me if you required Lic policy 9880484598

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