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.
ICICI Bank is also not entertaining clients for Sukanya Simridhi Yojana and it seems that they don’t have proper information and also not interested to deal in this. They simply say we don’t have much details regarding this.
Yes Ravi, it is very unfortunate that most of the banks are not guiding their customers properly.
i have contacted the main HEAD of icici through mail and phone, they just replied ” PLEASE VISIT NEAREST POST OFFICE” .
don’t waste your time…
Are you serious Eshwar? If yes, it is very disappointing.
Dear Shiv,
Any idea as when all the public sector banks will start opening this account? My plan is to invest between 1-4th any month, so please let me know if you have any information.
I went to SBI today and they suggested me to open child plans instead. Are there any instructions/guidelines provided to Banks from Govt? bank staffs seemed clueless on this topic.
Thanks,
Ronotosh
Yes Mr.Shiv
here am pasting the reply they have given..
_________________________
Dear Customer,
We understand your concern.
With reference to your email, we inform you that, regarding the Sukanya Samriddhi account, we request you to visit the nearest Post Office.
We look forward for your co-operation.
Sincerely,
Shravan
Customer Service Officer
ICICI Bank Limited
________________
And i had a telephonic conversation with HOD main branch in HYD as well, they are also said the same, it seems they are not willing or they wont get any profit, so denied the RBI instructions. Am eagerly waiting and contacted the SBI, SBH also result is same. My friend is working as Probationary Officer for SBI.
I have visited different banks for SSA but but all respond that there is no guideline for this account and unable to open.
Hi Ramu,
Please contact PNB for opening this account on 011-25744370.
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 9yr old daughter. If I deposit 2,000/- per month 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.
Hi Ramu,
PNB has started opening these accounts. You can contact them at this number – 011-25744370. Moreover, as of now, Sukanya Samriddhi Scheme is the best tax-free scheme.
I am intreasted to open sukaniya samreddhe account in bank but bank not response. To open account. So what can I do.
Hi Amit,
PNB has started opening these accounts. You can contact them at this number – 011-25744370.
Hello everyone,
I am going to SBI branch for SSA a/c but Branch manager told me that he didn’t have notification from bank. Then I submit complaint to nodal officer. But till he give reply to me and nodal officer that he didn’t get any notification and request to help him about it. My next step will give complaint to RBI ombudsman.
Hi Sachin,
Can you please repeat your query?
Wat is the last date for SSY
There is no last date as such for this scheme Ganesh.
Hi shiv,
You are doing great job.Thank you so much for sharing such important informations.I am waiting for banks to open SSA.Please let me know if any Bank is starting this scheme.
Thanks Tarlika for your encouraging words!
PNB has started opening these accounts in some of its authorised branches. This is their centralised contact number – 011 25744370
can i see my sukanya samridhi yojana account online for verification ?
Post offices do not provide any kind of online facility. But, the same is available with banks. So, you need to open this account with a bank for online verification.
I want to deposit one time of Rs. one lac then after 21years what will be the machurity vallu
Please check this post for maturity values – http://www.onemint.com/2015/04/03/sukanya-samriddhi-yojana-calculating-maturity-values-9-2-interest-rate-applicable-for-fy-2015-16/
Hello Shiv,
If I open a SSY a/c to post office now, in future can I transfer it to my bank? If so what would be the procedures? Thanks and regards.
Hi Pulak,
Yes, you can transfer your account to a bank later on. For the exact procedure, you need to contact the post office or the bank branch.
Today is 20.04.2015, I am not interest opening ssy account in post office for bad service, so when start bank ssy account ? Eny information please …..
No Sibasish, I don’t have any such info. I’ll update this forum as & when I get any such info.
Today is 05.05.2015, Time is going on. Please update urgently about SSY. I am interest opening SSY account in SBI, so please help me.
send total ditel
Sorry Mr. Shukhla, we do not provide such personalised services.
hi Shiv, my daughter is going to turn 9 this October. I believe to avail the SSY scheme, she has to be at least 10 years of age. pls let me know. does this yojana have a fixed term of 21 years or 14 years?
thanks
No Sushmita, your daughter is already eligible for this scheme as 10 years of age is the maximum entry age and not minimum entry age. You need to deposit money for 14 years and your daughter can withdraw it on her marriage.
What is the last date of this sceme
It is an ongoing scheme, there is no last date as such for this scheme.
If i died during 14 years of installment of this scheme then what about maturity
HI Shiv.. my daughter is one year old. I have her birth Certificate but name is not mentioned in that.. so alternatively I told post officer to take my daughter passport as a proof. But they are saying this ‘ll not work.. I need to get birth certificate with name.. whatever post officer is saying is right?
Hi Indra,
I am not sure about it coz I think most of the birth certificates don’t carry babies’ names on them. I think birth certificate along with the passport copy should work. You should try it at some other post office.
Dear Sir,
I have opened my Daughter’s SSA account last week in PO.
Below documents they asked for submit.
1) Child’s DOB certificate
2) Parent’s PAN and Adhar Card
Most of the people are complaining the PO services. Request to all to dont blame. I have opened this account very easily and all the PO staffs were very friendly and answering very well.
Thank you sir for your help.
Regards,
Pawan
Pune
Thanks a lot Mr. Pawan for providing such a required guidance to all our readers here! 🙂
Pawan, Opening accounting Post office is very easy and friendly. But getting the money back after maturity you will run helter and skelter. Good luck
Today is 17.04.2015, I am not interest opening ssy account in post office for bad service, so when start bank ssy account ? Eny information please …..
No Sibasish, I don’t have any such info. I’ll update this forum as & when I get any such info.
Today is 02.05.2015, I am not interest opening ssy account in post office for bad service, so when start SBI ssy account ? Eny information please update urgently …..
There is no info about the same Sibasish!
I have visited different banks for SSA but but all respond that there is no guideline for this account and unable to open.
You’ll have to wait some more time for these banks to start opening these accounts.
Dena bank me may dobar gya lekin sukanya samridhi yojana ka a/C nahi khula bolte hai Ki hmare yaha koi suchna nahi hai. Dadra dena bank me
Shrivastavji, thode din wait keejiye, banks abhi ye accounts open nahin kar rahe hain.
Today I visited Union Bank of India, But they are not opening Sukanya Smridhi Yozna. They are directing to post office
Hi Samsher,
You’ll have to wait some more time for these banks to start opening these accounts.