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.
hello sir,
my doughter is completly 5 year’s i will deposit 2000/ pm . so how much amount i will get after 21 years
Hi Madan,
Please check this post for maturity values – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
Nameste Sir
Sir meri beti 9 saal ki h toh kya mujhe 5 saal kist jama kani h ya 14 saal
Nameste Sir
Sir meri beti 9 saal ki h toh kya mujhe 5 saal kist jama kani h ya 14 saal karni h….
Namaste Pradeepji,
Aapko 14 saal tak paise deposit karne honge, yani ki jab aapki beti 23 saal ki hogi, tab tak. Ya phir uski shaadi hone tak.
Hello Sir, kya SBI branch main SSA khol paunga ? Plz reply
Hi Raghu,
SBI branches mein ye account khul jaayega, but abhi SBI ki branches ne ye account open karna start nahin kiya hai.
Hello
Mr Kukreja,
My name is Ganesh from Mumbai.
There are few questions wanted to know
1)can be deposit fluctuate amt in a year?
2) If i open the account of my daughter can I put her mother’s name as a nominee?
3) My Daughter is of two months now is it a right time for this plan?
4) Compare to any LIC plan…..Sukanya Samriddhi Yojana” is the best?
5) Is there any hidden terms & conditions?
Hi Ganesh,
1. Yes, it can be any amount between Rs. 1,000 and Rs. 1,50,000.
2. Nomination facility is not there with this scheme.
3. I don’t know what do you mean by the right time to invest for a 2 month old daughter, but you can invest in your daughter’s name even if she is 2 months old.
4. I don’t want to compare an investment scheme with an insurance product. But, I think this scheme is quite superior to any insurance product which has investment component attached to it.
5. I don’t think there are any hidden terms & conditions in this scheme.
Hello Sir, the details given by u are very simple and understandable. Today I’d been to the post office to get the form, but in the form , there was no option of SSA given in the type of account. Is it okay to fill in the same form and will it be valid?
Expecting your reply.
Thank You.
Thanks Divya,
Yes, it is perfectly fine to fill the form given to you by the post office staff. Its just that they are using their old stationery for this scheme till date and they don’t have new forms printed with them. You need not worry about that, go ahead and use that form to invest in this scheme.
Hi
Sir ma 12000 par year jama karwuga to mujay 21 saal baad kitane milage ??
*
Hi Rahul,
Please check this post, 21 saal baad Rs. 6,31,261 milega – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
Hi
Kya hum isko post office m bhi khulva sekte h.
Ji bilkul khulwa sakte hain. Abhi tak sirf post office mein hi ye accounts khul pa rahe hain.
Hi
Kya hum isko post oofficem bhi khulva sekte h.
Hello sir
Can I get tax benefits for year 2014-15 if deposited in Sukanya Samridhi Yojana account before 31 March 2015 under section 80C ?
Hi Nandlal,
Yes, why not, you can very well claim it for this financial year.
Sir
I am sending this msg again kyon ki aapne reply nahi diye
Sr, mein march 2015 poora hone tak 1lakh amount SSA me saving karna chahti means es financial year me.
Rs 50,000 tomarrow and remaining amount next week
Kya mein iyse fifteen days me twice deposit karsakti hun??
Please reply deejiye
Thank you.
Hi Prasanna,
Yes, aap is tarah 15 days mein do baar ya usse bhi zyaada baar deposit kar sakte ho.
sir meri beti 10 sal 5 months ki hai kya mai beti ke name se sukanya dev yojna mai account khol sakta hu?
Agar aapki beti ki date of birth December 2, 2003 ya uske baad ki hai, to aap ye account khulwa sakte hain.
Hello Mr. Kukreja, I want to know if my daughter is eligible for this scheme. She was born in US (2012) so she is a US citizen and has a US passport. I am not a US citizen and still holds an Indian passport. I have her US birth certificate. Can I open an account for her? I am struggling to get this answer since several days now but no one has answered it. Also I want to know if she marries/studies in US after 21 years will she still be able to get the maturity amount? I will really appreciate if you can answer my questions. Thanks in advance.
Hi Gaurav,
Though it is still not clear whether NRIs or foreign citizens are eligible for this scheme or not, I think it is most likely that they will not be eligible for it as most of the Post Office small savings schemes don’t allow NRIs to invest. But, still you’ll have to wait for some more time for further clarity in this matter.
Hello Mr. Kukreja,
Thanks for your prompt reply. I wish she was eligible, but still I will wait and see if there can be some exception made for NRI’s. If you get any further information on this, please reply to me. I really appreciate it. Thanks!
Sure, I’ll do that. If the government allows NRIs to invest in this scheme, I’ll write a full post on that.
Hi, Sir
Mujhe iss ki clarification chahiye ki Hmara paisa bank ya post office kaha par inveSt karegi aur Hmara paisa save h iski kya guarantee.
Hi Jitendra,
I think iski information ke liye aapko government mein RTI file karni padegi.
Dear Sir,
My daughter’s date of birth is 04-10-2012. Is her applicable for Sukanya Samriddhi Yojana? Can i open the a/c her name in SBI. Please let us know your feedback.
Hi Asha,
Yes, your daughter is eligible for this scheme.
Also, you can open her account in SBI.
Thanks sir
You are welcome!
Sir,is account mein per month deposite karna jarori he kya
Nahin, saal mein minimum ek baar deposit karna zaroori hai.
1000 rs har mahiney jama karwaney per 14 saal baad lagbhag kitna paisa return milega
14 saal baad paisa return nahin milega, 21 saal baad milega.
Ye yojna udaipur me start ho gayi he ya kab tak start ho jayegi
Ye yojana poore India mein start ho gayi hai, but kuch banks/post offices abhi tak iske accounts khol nahin pa rahe hain.
Kya ye account patiyala bank me khulwa sakte hain
Ye aapko Patiyala Bank se confirm karna padega.
Air is yojana kis Umar suru hokar Kab tak suru rahegi
Hallo, sir years yojana start Kab hui hai
Ye yojana 21 January ko Prime Minister Mr. Modi ne shuru ki hai.
Sir
Kya u.p wale haryana me account khol sakte hai
Yes, khol sakte hain.