Sukanya Samriddhi Yojana Bank List: The Indian government has granted permission to a few Indian banks to open Sukanya Samriddhi Savings accounts. Among them are the Indian Bank, UCO Bank, Indian Bank, IDBI Bank, Canara Bank, and the State Bank of India (SBI).
(The requirements for the minimum yearly deposit for the Sukanya Samriddhi Yojana account were changed on July 23, 2018, from Rs. 1,000 to Rs. 250. Current interest rates for the Sukanya Samriddhi Yojana plan are 8.2% p.a., compounded annually.
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Bank List of Sukanya Samriddhi Savings
The Reserve Bank of India has authorized the below banks to open Sukanya Samriddhi Savings accounts
| ank | Interest Rate |
| Axis Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| State Bank of India Sukanya Samriddhi Yojana | 8.2% per annum |
| Bank of Maharashtra Sukanya Samriddhi Yojana | 8.2% per annum |
| Bank of India Sukanya Samriddhi Yojana | 8.2% per annum |
| Bank of Baroda Sukanya Samriddhi Yojana | 8.2% per annum |
| Indian Overseas Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| Indian Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| ICICI Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| IDBI Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| Union Bank of India Sukanya Samriddhi Yojana | 8.2% per annum |
| UCO Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| Punjab National Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| Punjab & Sind Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| Canara Bank Sukanya Samriddhi Yojana | 8.2% per annum |
| Central Bank of India Sukanya Samriddhi Yojana | 8.2% per annum |
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1. Axis Bank Sukanya Samriddhi Yojana
Axis Bank’s Sukanya Samriddhi Yojana account offers financial advantages to underprivileged girls. This savings plan assists parents in saving for their children and meeting their financial obligations on schedule. An account can be opened for the child under the Axis Bank Sukanya Samriddhi Yojana by the parent or legal guardian.
2. State Bank of India Sukanya Samriddhi Yojana
Girls’ well-being is improved through SBI’s Sukanya Samriddhi Yojana. The maximum period of time that deposits can be made after the account opens is 15 years.
3. Bank of Maharashtra Sukanya Samriddhi Yojana
Parents can put their worries regarding their daughter’s future bills to rest with a Bank of Maharashtra Sukanya Samriddhi Yojana account. When the girl kid reaches adulthood, she gets a guaranteed sum.
4. Bank of India Sukanya Samriddhi Yojana
The Bank of India Sukanya Samriddhi Yojana ensures the girl child’s future financial security. An annual deposit of up to Rs. 1.5 lakh can be made into the account.
5. Bank of Baroda Sukanya Samriddhi Yojana
Using the Bank of Baroda Sukanya Samriddhi Yojana account, parents can save money for their daughter’s future education needs. It only takes a few easy steps to open a Bank of Baroda Sukanya Samriddhi Yojana account.
6. Indian Overseas Bank Sukanya Samriddhi Yojana
The Indian Overseas Bank Sukanya Samriddhi Yojana account is an excellent means of safeguarding a girl child’s future. Premature closure is permitted when the girl kid marries after turning eighteen.
7. Indian Bank Sukanya Samriddhi Yojana
Future financial security for girl children is guaranteed by the Indian Bank Sukanya Samriddhi Yojana. You can put a minimum of Rs. 250 in this account. Section 80C tax benefits also apply to the Sukanya Samriddhi Yojana account.
8. IDBI Bank Sukanya Samriddhi Yojana
The girl child’s guardian or biological parent may open an IDBI Bank Sukanya Samriddhi Yojana account. Until the daughter reaches the age of 18, she is not permitted to make partial withdrawals from the account.
9. Union Bank of India Sukanya Samriddhi Yojana
Registering for a Union Bank of India Sukanya Samriddhi Yojana account is the greatest strategy to ensure the safety of the girl child. The initiative offers multiple rewards for the welfare of girls, with a minimum investment of Rs. 250.
10. UCO Bank Sukanya Samriddhi Yojana
The UCO Bank Sukanya Samriddhi Yojana account helps to ensure the girl child’s future. This account is transferrable across India between banks.
11. Punjab National Bank Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana account offered by Punjab National Bank encourages parents to start saving money for the future of their female child. It is simple for the girl’s legal guardian or biological parents to open an account in her name.
12. Punjab & Sind Bank Sukanya Samriddhi Yojana
The best course of action to ensure the girl child’s safety is to open a Punjab and Sind Bank Sukanya Samriddhi Yojana account. This will help the female child financially and allow her to follow her goals.
13. Canara Bank Sukanya Samriddhi Yojana
The mission of the Canara Bank Sukanya Samriddhi Yojana is to help every girl child reach her future potential. It is meant to cover the costs of a girl child’s education and marriage.
14. Central Bank of India Sukanya Samriddhi Yojana
The Central Bank of India offers flexibility and affordability through the Sukanya Samriddhi Yojana. In comparison to other Small Savings Plans, it provides the greatest interest rate along with several tax advantages.
Post offices also offer the option to open an account. To open the account, you will need to provide your documentation and make an initial deposit of Rs. 250.
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How to Open Sukanya Samriddhi Yojana Account Online
An online application process is available for opening a Sukanya Samriddhi Yojana account from authorised banks. Simply go to their respective websites and complete the online Sukanya Samriddhi Yojana application to apply. You can use any digital payment option to pay the application cost. You can open a Sukanya Samriddhi Yojana account right away by logging into your net banking account if you already have a savings account with one of the approved institutions.
How to Open Sukanya Samriddhi Yojana Account Offline
Proceed to the closest licenced bank to initiate an offline Sukanya Samriddhi Yojana account. Obtain an application for the Sukanya Samriddhi Yojana scheme and complete it with all of your information. Enclose the necessary paperwork and send it to the bank with the application. Prior to the opening of your SSY account, your application will be confirmed.
FAQs
Q. What is the bank list for SSY?
Ans: The banks that allow you to open a Sukanya Samriddhi Yojana account are listed on the SSY bank list.
Q. How many accounts under the Sukanya Samriddhi Yojana can be opened?
Ans: Parents are able to create an account for each of their two daughters. In case of a second birth of twins, three accounts can be created.
Q. Is there any tax benefit associated with the Sukanya Samriddhi Yojana?
Ans: Yes, you are eligible for up to Rs. 1.5 lakh in tax deductions under Section 80C.
Q. What would happen if, for one or more fiscal years, the account holder made no deposits into The Sukanya Samriddhi Yojana?
Ans: You will be assessed a penalty of Rs. 50 if you do not deposit the mandatory minimum deposit amount of Rs. 250 within a fiscal year.
Q. What is the Sukanya Samriddhi Yojana’s duration?
Ans: The Sukanya Samriddhi Yojana is for a period of 21 years.
Q. Can a Sukanya Samriddhi Yojana account be used to obtain a loan?
Ans: SSY accounts are not qualified for loan facilities, sorry.
Q Is it feasible to take money out of a Sukanya Samriddhi Yojana account partially?
Ans: Withdrawals are permitted upon the completion of the tenth standard or the account user’s eighteenth birthday, whichever comes first.
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