How to Open a Sukanya Samriddhi Account Online in the Post Office?

The Sukanya Samriddhi Yojana (SSY) is a scheme introduced by the Government of India as a small savings plan for the benefit of a girl child below ten years of age. You can only open a Sukanya Samriddhi Account in the Post Office by physically visiting the Post Office but can manage your transactions online in a convenient and secure way.

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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Post Office Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8.2%

Yearly Investment

You can invest maximum upto ₹1,50,000

₹

Girl's Age

Maximum age should be 10 years

Yrs

Start Year

Investment term is 21 years

Total Investment

Total Interest

Total Investment

Total Interest

Maturity Year

Maturity Value

Amount you will get

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What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is an initiative under the Beti Bachao Beti Padhao Campaign, backed by the government for the young girls. The tenure for the Sukanya Samriddhi Yojana is up to 21 years or till the marriage of the girl child.

One can open a Sukanya Samriddhi Account in the Post Office by following the simple steps mentioned in the next section.

How to Open a Sukanya Samriddhi Account Online in the Post Office?

You cannot directly open a Sukanya Samriddhi Account (SSA) online through any authorized bank branches or post offices. However, you can pay installments in the SSA account through net banking. The process to open a Sukanya Samriddhi Account is offline and requires a visit to your nearest branch.

Follow the steps mentioned below to open a Sukanya Samriddhi Account in Post Office:

Step 1- Gather the required documents:

Sukanya Samriddhi Account (SSA) opening form (available at the post office)
Birth certificate of the girl child (proof of identity and name)
Photographs (applicant and girl child together)
KYC documents (ID proof, address proof) of the applicant (guardian)
Initial deposit amount (cash, cheque, or demand draft)

Step 2- Visit your nearest Post Office:

Complete the SSY account opening form.
Submit the filled form along with the required documents and initial deposit.

NOTE:

Check the updated Sukanya Samriddhi Yojana interest rates (SSY interest rates), as they can impact the overall growth of your investment.
You must utilize the Sukanya Samriddhi Yojana Calculator (SSY Calculator) to estimate the maturity amount and monthly/yearly contributions based on your investment amount and duration.

People also read: Post Office Sukanya Samriddhi Yojana

What Documents Are Required to Open a Sukanya Samriddhi Account Online in the Post Office?

Submit the following Sukanya Samriddhi Yojana documents required in Post Office to open SSA:

Before you visit:
- Download the application form: Visit to the India Post website and download the Sukanya Samriddhi Account opening form.
- Documents to gather:
  - Originals and photocopies:
    - Birth certificate of your daughter (proof of identity and age)
    - Your ID proof and address proof (following KYC guidelines - check your bank's website for details)
    - Your Post Office Savings Account (POSA) passbook
- One photograph each:
  - You (guardian)
  - Your daughter (passport-sized photos)
At the Post Office:
- Take the completed application form and all the documents you gathered.
- Make a minimum deposit of ₹ 250 (in cash, cheque, or demand draft).

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Conditions About Sukanya Samriddhi Yojana - Post Office Account

Particulars	Details
Interest Rates	8.2% per annum for the financial year Q4 2023-24
Age Criteria	Girl child of less than 10 years of age
No. of SSA Accounts	Upto a maximum of 2 SSA accounts are allowed per family (Except in case of second girl child as twins or triplets).
Number of Accounts	Family Composition	Maximum Number of Accounts Allowed
	Single girl child	1
	Two girl child	2
	Single girl child + Twins	3
	Single girl child + Triplets	4
Contribution Period	Maximum 15 years
Maturity Period	Earlier of 21 years or till the girl child's marriage
Minimum Deposit Amount	₹ 250
Maximum Deposit Amount	₹ 1.5 lakhs
Taxability	-Tax deductions are available under Section 80C of the Income Tax Act of 1961. -You get tax-free interest earnings and maturity amount.
Online Account Opening	Not available; standing instructions can be set after account opening

People also read: Sukanya Samriddhi Yojana Calculator

In Conclusion

Opening a Sukanya Samriddhi account online through the post office is a convenient and straightforward process. By following the outlined steps and utilizing the provided guidance, one can easily set up this beneficial savings scheme for the future education and welfare of their daughter.

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

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Frequently Asked Questions

How to open a Sukanya Samriddhi Account in the Post Office online?

Unfortunately, you cannot currently open a Sukanya Samriddhi Account (SSY) online through the post office. You will need to visit your local branch in person.
Can I login to Sukanya Samriddhi online?

Once the account is active, you can check your balance or deposit money in the SSY account through net banking. There is no direct login to the account.
Which bank is best for Sukanya Samriddhi Yojana?

There is not necessarily a best bank for SSY. The interest rate and other features are the same across all authorized banks and post offices offering the scheme. You can choose based on convenience, your existing banking relationship, or any online account management features they might offer.
Can we transfer online to the post office Sukanya Samriddhi Account?

While you cannot directly open your SSY account online, some banks might allow online fund transfers to these accounts. However, it is advisable to confirm this option with your specific bank before initiating any transfers.
How much does it cost to open a Sukanya Samriddhi Account?

Opening a Sukanya Samriddhi account typically has no charges. The minimum initial deposit is ₹250 up to a maximum of ₹1.50 lakhs annually, but there is no account opening fee.
What is Sukanya Samriddhi Yojana 1000 per month?

Sukanya Samriddhi Yojana 1000 per month likely refers to the minimum annual deposit requirement of ₹1,000. You can start the account with ₹250 and then add money in multiples of ₹100, up to ₹1.50 lakhs per annum.
Do we need to pay monthly for Sukanya Samriddhi Yojana?

No, monthly contributions are not mandatory for SSY. However, to maintain an active account, you need to deposit a minimum of ₹1,000 within a financial year (April 1st to March 31st). You can choose to deposit this amount at once or spread it out throughout the year up to a maximum of ₹1.5 lakhs per annum.
What are the tax implications of the Sukanya Samriddhi Yojana?

As per the Income Tax Act, 1961, all the SSY investments are EEE (Exempt, Exempt, Exempt). The account holder would receive tax deduction benefits under this scheme up to Rs 1.5 lacs per annum. Disclaimer: Tax benefit is subject to changes in tax laws.
What is the process of transferring money in my post office Sukanya Samriddhi Account through the India Post Payments Bank?
The following are the steps involved if you want to transfer your money to your post office SSA through IPPB:
- Add funds to your IPPB account from your bank account.
- Navigate through the website and select Sukanya Samriddhi Account.
- Enter your SSY account number and customer ID.
- Now, choose the amount you want to pay as your installment.
- Also, select the duration of each installment.
- After payment is successful, IPPB will send you a notification as confirmation.
Does SSY offer a facility for partial withdrawal? What are its rules?

Yes, a partial withdrawal facility is available under the SSY scheme. However, the facility would come into action only after the girl child attains the age of 18 years. After that, 50% of funds are available for withdrawal from the post office SSA.
Would I be able to earn more interest if I deposit more than the maximum limit?

No, funds deposited exceeding the maximum limit of Rs 1.5 lacs would not earn any interest. The depositor could withdraw the excess amount at any time.
I want to transfer my bank SSA to my post office. Can I do this?

Yes, transferring SSA from banks to post offices or vice versa is possible. The transfer is free of cost. The only requirement is proof of a change of residence which you have to submit. Failure in showing the proof would mean a charge of Rs 100.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.