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

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.