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.
Sir, When I heard abt. SSY I tried at posts office. But no response. Can somebody pls tell when SSY form/link available
I have 4 1/2 year girl child. In the first year, if we are depositing Rs. 1.5 lac and for the rest of 13 years we will deposit Rs. 5000 per year, then how much amount we will get after maturity i.e 21 years.
Please clarify.
Hi Sir,
Can you please upload the filled application form for better understanding
Hi Prabhu,
Let me try to do that by the evening today.
Good Morning
my daughters age is 4 years,for 1000/rs every month in a year after 21 years how much i will get.plz confrom
Please check this post – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
Dear sir
I have visited to our local post office I have got the ssy form while submitting the form in post they asked me aadhar card.AS I have read in the instructions of ssy schme in there I think anywhere it is not mentioned that aadhar is needed I was having e-aadhar they told me it is not acceptable then I have state bank of india. Bank of india there I come to know that nobody is having the information of the ssy scheme in state bank when I asked to branch manager exactly he was also not knowing then I opened the ssy scheme from my mobile Internet and showed that your bank name is there
What I want to say is take some necessary action because lot many peole are interested for this
Thanking you
regards sushant
Thanks Sushant,
I know a lot many people are interested in this scheme. I hope the government will take quick actions to disseminate the required info to the public sector banks.
I am NRI. I would appreciate if you could answer belown asked questions ASAP.
Am I eligible to open an account for my 10 year old daughter?
If yes, what documents do I need to provide?
Can I open this account online?
Can grand-parents of my daughter open account for her?
Thanks,
-Vijay
Hi Vijay,
It is still not clear whether NRIs would be allowed to open this account or not. I’ll share the info here as soon as I get any update.
Thanks.
You are welcome!
My experience with the private institutes are no better. In fact I could get an application form from Head Post office at Patel Chowk, New Delhi. Mr Roop Chandra the Head Post master was very cooperative .
Dear Shri Kukreja,
It is wrong to blame Govt. Would private banks or institutions would do better. I got application form from Head Post office at Delhi. The post master explained me details as well. He was very cooperative.
Hi Mr. Rakesh,
You are the first person on this post who has praised either the post office guys or bank officials and you know I am really happy to know that you got the required help from somebody there. Honestly speaking, I want our post offices or the public sector banks to be highly efficient, in fact equally efficient as the private sector banks are.
But, I think you have not seen how public sector bank employees or post office officials deal with the general public. I am not saying all officials are rude, there are very efficient officials as well and very cooperative, but majority of them are not. Just wanted to know have you been able to open an account?
Sir meri beti 6 year ki hain Is yozna ke anusar 14year tak paisa jama karna hain aur iska maturity period 21 year ka hain sir main 2000 p.m.jama karne par 21 year me kitna amout milega
Agar rate of interest 9.1% fixed rehta hai, to aapko 21 saal baad approximately Rs. 12,50,609 milenge.
Hi,
I think one more factor that strongly plays a key role is when the time of the month when you are depositing the amount. I am sure not everyone will be able to deposit the maximum limit amount at the beginning of the year. I guess in that case, if someone deposits the amount on installment basis throughout the year, then the interest amount may just be marginally lower. Your thoughts on the same?
2nd point: A very good idea is to invest in Sukanya Samriddhi plan and also open a PPF Account for the child. This way you can reap maximum benefits. 🙂 🙂
Hi Kapil,
1. I completely agree with you on this.
2. I agree with you on this. I think one should also go for equity mutual fund SIPs to reap maximum benefits. 🙂
Dear Sir,
My few questions below (if i open account in Post Office):
1) Mode of payment (DD/Cheque/Cheque) when i deposit the amount?
2) Can i deposit the amount from any post-office or from the dedicated PO in city?
Thanks in advance.
Regards,
Pawan
Hi,
1. Mode of payment cab be any of these – Cash or Cheque or DD
2. Any Post Office
Dear sir
pls tell me what are the steps of an opeing of sukanya samruddi yojana account.
Thanks/Regards
L.Raghavendra
8861440191
Hi Raghavendra,
You need to approach the nearest post office with the application form, birth certificate of the child and residence & id proof of the guardian to open the account. Rest of the procedure will be explained by the post office officials as they start accepting these forms.
Sir,
During the time of maturity if the girl child attains foriegn nationality then will the girl/parent get the whole amount still.
Yes, you can withdraw the amount on maturity even as the nationality of the girl child changes.
sir good after noon
sir My daughter is birth 05.08.2004. Sir can I open SSA account in post office pls tell me sir pls.
Good Afternoon,
Yes, you can open SSY account for your daughter.
sir My daughter is birth 06.02.2004. Sir can I open SSA account in post office pls tell me sir pls.
Meri beti 8 sal ki hai keya me is yojna me acount khol sakta hu agar haa to kitna pessa per year jama karna hoga aur 21 year me kitna melega thanks
Haan, aap ye account khulwa sakte hain. Minimum deposit Rs. 1,000 hai ek saal mein. Maturity amount check karne ke liye ye post check karen – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
Sir my doughter 3 years old, i want to open sukany sumruddi scheme please. help me regading this can availe tax binifits.
i am planinig for 5000 per month please guide me how much amount i will get after meturity.
Please check this post – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
If I deposit 1000/- rupees per month. So after 21years my child how much money gain. Please tell me sir.
Please check this post – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
I did visited the post office and SBI both on 6th Mar 2015 as I too was eager to open this account within this financial year. They are aware of scheme but saying that no information came to them so that public can open the account immediately. Nor they know by when it would come. I think it would come only in next financial year.
The scheme already got notified in January, budget has just made its interest income tax-free. So, I think at least post offices should not give such kind of explanations.
Hi, There is a post office near to my place in Bengaluru. They are opening the accounts.
sir My daughter is birth 1.03.2003. Sir can I open SSA account in post office pls tell me
Sir,
PNB , BOB, SBI even Canara bank have denied that they have authorized to open the SSA account in their any branch.
Regards
Deepmala verma
Thanks Deepmala for this info! Probably these banks don’t have the required info as yet. Let us wait for some more days to get further clarity on this matter.
I just spoke to my bank (Bank Of Baroda) in Pune. It’s very irritating to note that even they don’t have any information whatsoever about it. Very upset with the same. The Bank Manager tells me “Sir, jab hamare pass information aayegi…. hum wide spread publicity karenge na! Tab tak aap wait kijiye please.!”
🙂 Nobody can do anything about it, we should just wait for it patiently. As and when the scheme gets available with these banks, we’ll get to know about it through newspapers, TV or internet.
Even IDBI call center has denied. I have opened account in Post Office and to my utter surprise they were very helpful and it took just five minutes.
The passbooks are still not available with them and they called me later in two weeks.
All you need is Birth Certificate, ID Proof, Address proof and two photograph of parent/gardian operating the account.
Kalamboli (Raigarh- Navi Mumbai) Post office seripously rocks.
The guy even gave me English form, saying if cannot understand Hindi, but being I was more than confortable with my Rastra Bhasha.
Thanks Deepmala for this info! you can open the SSA account in any post office.
Sir
Good Morning, I thank you very much for your efforts in improving financial literacy for the people of India.
I would liket o have clarification on few points wrt SSA as per the wordings mentioed in Notification.
1- “Deposits in an account may be made till completeion of fourteen years, form the date of opening of the account. ”
My daughter has completed six yeras it means i can deposit the amount till she complete 20 (14 +6) years of age. It means If I will open account in April 2015, I can deposit till Mar 2029. It does not have any relation to the completeion of 14 years of age of my daughter.
2- “The account shall mature on completion of twenty one years from date of opening of the account. ”
It means If I will open account in April 2015 the account will mature in Mar 2036. It does not have any relation to the completeion of 21 years of age of my daughter.
Plz clarify.
Regards
Piyush
Thanks a lot Piyush for your kind words! 🙂
1. Yes, that is correct.
2. Yes, that is also correct. But, you’ll have to compulsorily withdraw the whole balance and close the account as & when your daughter gets married.
Mera beti ku 8 years old my monthly 1000 rupees deposit ke 21 age kithna amount ayeega
Please check this post – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/
my doughters age is 4 years,for 1000/rs every month in a year after 21 years how much i will get.plz confrom
Please check this post – http://www.onemint.com/2015/03/09/sukanya-samriddhi-yojana-calculating-maturity-value-after-21-years/