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
RBI on March 11 issued a Circular to the authorised commercial banks to start observing the rules and regulations of Sukanya Samriddhi Yojana as per the Government of India Notification dated December 2, 2014. This circular has been marked to the Chairman & Managing Directors (CMDs) and Managing Directors (MDs) of some of the commercial banks operating in India.
These banks include most of the public sector banks, including State Bank of India (SBI), Bank of Baroda (BoB) and Punjab National Bank (PNB) and a few private sector banks also, including Axis Bank and ICICI Bank.
RBI has instructed these banks to approach Central Account Section, Reserve Bank of India, Nagpur for necessary arrangements to report Sukanya Samriddhi Account transactions with immediate effect. I think it means the RBI wants these banks to start opening accounts under this scheme without any further delays and the subscribers will not have to wait more to open their accounts. They can now approach these authorised banks to open an account.
Though it is still not clear if only these banks would act as the agency banks to open accounts under this scheme or some other banks would also join in, but it seems the following 28 banks would definitely be among all those banks authorised to open Sukanya Samriddhi Accounts (SSA).
Updated 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) – Branches; Contact – 022-40919191 / 1800 220 229
- 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) – Website Link; Contact – 011-25744370
- Punjab & Sind Bank (PSB)
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
RBI also issued a specimen of application form and the passbook for opening an account under this scheme. Unlike the post office application form, this application form would be applicable just for this scheme only.
Here you have the specimen of the application form which the authorised banks/post offices will be using for opening Sukanya Samriddhi Accounts – Application Form
Also, here you have the specimen of the passbook which the authorised banks/post offices will be issuing to the parents/legal guardian of the girl child – Passbook
You can also refer to the following posts for the complete details about this scheme:
Sukanya Samriddhi Yojana – Tax-Free Small Savings Scheme for a Girl Child
Sukanya Samriddhi Yojana – Application Form & List of Banks to Open an Account
Sukanya Samriddhi Yojana – Calculating Maturity Value after 21 Years
Sukanya Samriddhi Yojana – Sample Filled Application Form
If any of you have anything to share or ask about this scheme, please let us know.
Dear shiv, I am staying Dubai with my family, I wish to open SSY for my 4 years old daughter, but she get born in Saudi Arabia, can anybody open an account for her ??? like my father or mother as they are staying at India. as you aware Gulf born will be by born Indian, they will not get resident for the same country. In that case if possible….please guide
Hi Kalpesh,
It is still not clear whether girls born outside India are eligible for this scheme or not. You’ll have to wait some more time for further clarification in this matter.
Dear Shiv, hats-of for your help, its speechless, you are answering everyone’s questions very politely and with more patience.
i too helped many persons around me to aware of this SSY benefits, downloaded the SSY Calculator on my android phone and clearing the doubts on the spot. I just need a E mail notification whenever the Banks accepted to open SSY. Please send me, i am also in touch with bank officials, i will update to you. So nice of you, thanks again.
Thanks a lot for your encouraging words & efforts Eshwar! 🙂
I’ll write a post as & when I have any info regarding banks opening these accounts. I’ll also try to notify you personally.
Dear Shiv,
thanks a lot for ur feedback.
You are welcome!
PNB has started ssy account opening but it is not available on PNB website.
you u have any info about when other banks are going to start SSY account opening
Hi Satendra,
I have come to know that even SBI have started opening these accounts, but not all the branches are doing it. I think by the end of this month most of the banks will start working on it.
Is there any bank which has started opening these accounts?
Rgds,
Anuj
Hi Anuj, I have no info regarding this.
Sir,
I went to SBI Imphal Secretariat Branch (Branch code 004562) to open Sukanya Samriddhi Yojana. The SBI bank is not accepting my Sukanya Samriddhi Form saying that instead of coming to bank I much go to Post Office. If anything you can do from your end kindly do a needful. Thanks.
Sorry, we do not have any such authority to instruct banks to open these accounts.
Hello Sir
I have emailed to many banks but every one answered that no circular has been issued from RBI about this Sukanya pf. They suggested me to open ppf account for my 4 yr old daughter. If I deposit 33000/- per annum then what will be more beneficial and tax free for my daughter. RD , sukanya or ppf. Please reply soon as I want to invest at the earliest.
Sukanya scheme is the best scheme for a girl child.
If i will deposit 1000/- each month for 14 year then how much i will get after 21 years under kanya smurudhi scheme
Maturity values ke liye ye post check keejiye – http://www.onemint.com/2015/04/03/sukanya-samriddhi-yojana-calculating-maturity-values-9-2-interest-rate-applicable-for-fy-2015-16/
Even after RBI notification banks not accept application and give reason that our bank had not receive any updates. What can i do?
Nothing can be done about it Pradeep, except waiting for them to start opening these accounts.
Hi Kukreja,
Please suggest me. Currently am in abroad, my parents staying in india. My Parents want to Start sukanya samriddhi account for my baby girl(9months old). is it possible to Start this Account with out me and my wife Involvement?.
Hi Venky,
If your daughter is India born, then your parents can get this account opened for your daughter by becoming her legal guardian.
Thank you Kukreja….
You are welcome!
Dear Mr Kukreja,
1 Kindly help with the rate of interest for the FY 2015-16 in this account
2 Any information about when bank will start opening this account
Thanks in advance
Regards,
Tahir Saifi
Dear Mr. Tahir,
1. For FY 2015-16, rate of interest is 9.20%. Please check this post – http://www.onemint.com/2015/04/03/sukanya-samriddhi-yojana-calculating-maturity-values-9-2-interest-rate-applicable-for-fy-2015-16/
2. No info is there from which date banks will start acting.
When bank start open ssy A/C
Only banks can answer this question Aarti, very slow process.
Sir meri beti 8 saal ki hai, 21 saal bad wo 29 saal ki ho jeyegi lakin agar shadi 25 saal ki hone per hoti hai to kya sara amount mil jayega
Yes, saara balance with interest shaadi hone pe mil jaayega.
Mera SBI branch Ka name hai SBI Barhait bazar Sahibganj jharkhand
Rukeshji, thode din wait keejiye ya phir post office mein account khol sakte hain.
Mai SBI branch me es yojna Ka account kholne gaya.Branch manegaer ke duara kaha gaya ki abhi tak humare yaha gov.Ka aadesh nahi aaya hai kia kare jankari dene Ka kast karnge
When bank start ssy A/C
Hi Sibasish,
Only banks can provide the exact dates.
I am visit to State Bank of India for SSY, but bank manager say I have no any notification…, so please help me urgently.
Sibasish, you can get this account opened in a post office as well.
Today is 16.04.2015, I am not interest opening ssy account in post office for bad service, so when start bank ssy account ? Eny information please …..
Hi I am Aniruddh I am going for this Sukanya Samriddhi Scheme ICICI & IDBI Bank(ALigarh, Uttar Pradesh) But They say We have no any notification or cercular about this scheme pls Instruct the banks to start this scheme ASAP.
I am visit to Vijaya bank, Trinity Circle Branch, Bangalore, but bank manager say I have no any notification…, pls tell bank start this scheme till date…?
Hi Mahesh,
We do not have the list of bank branches which have started opening these accounts. You can get this account opened in any of the post offices.
Hi I am aniruddh I am going for this scheme ICICI & IDBI bank (Aligarh,Uttar Pradesh). but they say We have no any notification or circular about this scheme. pls instruct to bank start this scheme ASAP.
Hi Anniruddh,
I think you need to place a request with the government to instruct these banks to start opening these accounts. We do not have any such authority.
Hi I am satpal I am going for this scheme corpration bank bank manager say I have no any notification pls tell bank start this scheme till date
Hi Satpal,
We do not have the list of bank branches which have started opening these accounts. You can get this account opened in any of the post offices.