How to Check Post Office Sukanya Samriddhi Yojana Account Balance
The main agenda of the scheme is to encourage parents of a girl child in India to build a corpus for her future education and expenses.
Understanding Sukanya Samriddhi Yojana
Here are some features as well as the benefits related to Sukanya Samriddhi Yojana Scheme that will help you understand the policy in a better way.
Features
A program initiated by the Government of India
Parents/Guardians having daughter below the age of 10 can opt for Sukanya Samriddhi Yojana account
Tenure of 21 years or until the girl child is married after the age of 18
6% rate of interest compounded annually
Income tax exemption under Section 80C of the Income Tax Act
Any amount from Rs. 250 to Rs. 1.5 lakh can be deposited in the account every year
Account to be opened only in the name of the child and not in the name of their legal guardian
Only 2 Sukanya Samriddhi Yojana accounts allowed per family
Benefits
High rate of interest
Income tax savings
Lock-in period
Partial withdrawals can be made
Guaranteed maturity benefits
Interest even after maturity
Investment
Secure
Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply
Sukanya Samriddhi Yojana Account Highlights
Here are some highlights of the features and benefits of Sukanya Samriddhi Yojana that will help you understand the scheme
Features
Benefits
Interest rate
7.6% per annum
The minimum amount for opening an account
INR 250/- every year
The maximum amount for opening an account
INR 1,50,000/- every year
Who can open the account
The Parent or legal guardian of the girl child
Age criteria
Girl child below the age of 10
Maximum number of accounts
2 per family
Tenure of the scheme
21 years or until the marriage after the age of 18
Account opening
Only in the name of girl child
Deductions
Under section 80C if Income Tax Act
Withdrawals
Partial withdrawals can be done
Before knowing how to check Sukanya Samriddhi Account Balance Online, or deposit money online, it is important to understand IPPB.
Invest MoreGet More
Invest ₹10K/MonthYOU GET₹1 Crores*For Your ChildView Plans
Invest ₹8K/MonthYOU GET₹80 Lakhs*For Your ChildView Plans
Invest ₹5K/MonthYOU GET₹50 Lakhs*For Your ChildView Plans
Standard T&C Apply *
What is IPPB?
Indian Postal Department has played a vital part in India’s Communication Network for ages. Today, to come at par with the leading banks in our country and to provide better digital services to the common man, the Indian Postal department has come up with a new banking wing called Indian Post Payment Bank (IPPB).
Under the IPPB (Indian Post Payment Bank), all your post office transactions can be done online, just like any other normal bank. All you need to do for IPPB is visit your nearest post office once for basic registration and post that, you can easily carry all your post-office-related transactions online. From viewing the balance of any of your postal accounts to transferring money in different scheme plans, all can be done online just after you complete IPPB registration.
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
View Plans
Sukanya Samriddhi Yojana Account Balance
If you already have an account, you can check the Sukanya Samriddhi Yojana account balance both online and offline through electronic medium and physical passbook respectively. Let us discuss both ways in detail so that it is easy for you to know your Sukanya Samriddhi Yojana account balance.
Offline
Currently, 28 banks are offering the Sukanya Samriddhi Yojana scheme. To know your account balance offline, all you need to have is a passbook of the account provided to you by your bank. For account balance inquiries, you have to visit your bank branch and get the passbook updated regularly.
Online
In the world of digitalization and covid, nobody wants to step outside their houses. The best way to be updated about your Sukanya Samriddhi Yojana account balance is by registering online.
Here are some simple steps to be followed to know your Sukanya Samriddhi Yojana account balance online:
Step 1: Apply for login credentials. Ask your respective bank to provide you with Sukanya Samriddhi Yojana account credentials. Once you receive the details, then only you will be able to operate your Sukanya Samriddhi Yojana account online.
Step 2: Log in with the credentials. The provided user name and password need to be entered into the internet banking portal of the bank.
Step 3: After login, the homepage for Sukanya Samriddhi Yojana will appear. You can simply check Sukanya Samriddhi Account Balance Online. The balance might also be displayed in the dashboard column of the account.
Step 4: Note that through this portal, you can only view your Sukanya Samriddhi Yojana account balance. No transactions can be made through this portal.
These are some extremely simple and quick steps to check out your account balance anytime, anywhere, without any hassle.
Now that you can check the Sukanya Samriddhi Account balance online by these simple steps, you can directly deposit money in your SSY account too. If you feel the need to deposit money in your post office Sukanya Samriddhi Account, here are all the steps to be followed.
Steps To Deposit Money In Sukanya Samriddhi Yojana Post Office Account
Sukanya Samriddhi Yojana Account is a must-have for every responsible parent of a girl child to corpus for her future financial needs. To deposit money in your existing Sukanya Samriddhi Yojana account, you have to follow these simple steps below:
Step 1: Add money from your normal savings account to India Post Payment Bank’s (IPPB) savings account
Step 2: Go to the Department of Post (DOP) product and select Sukanya Samriddhi Yojana Account
Step 3: Mention the credentials of your Sukanya Samriddhi Yojana account, that is, account number and customer ID provided by the Department of Post (DOP)
Step 4: Once successfully logged in, you can now transfer money from IPPB to the Sukanya Samriddhi Yojana scheme. This transfer can be made to any other designated scheme by the Department of Post as well.
Step 5: Select the installation duration and amount agreed during the time of purchase of the Sukanya Samriddhi Yojana scheme
Step 6: India Post Payment Bank will notify you of the successful payment transfer on your registered mobile number
Open A New Sukanya Samriddhi Yojana Account
Offline
There are 2 ways to open Sukanya Samriddhi Yojana offline, that is, with the bank or at the post office.
Visit the post office/ bank
Fill in the Sukanya Samriddhi Yojana application form with the details of your daughter
Take birth certificate, Aadhaar card, pan card, and all other necessary documents of the child with you
After verification, your account will be opened and the passbook will be handed over to the parents/ legal guardian of the girl child
Online
Much easier than directly visiting the bank branch, to open your Sukanya Samriddhi Yojana account online, all you have to do is
Check the official website of the bank you wish to have an account with
Fill in all the required information of the child and the parents in the form as required
Attach scanned copies of all the mentioned certificates and address proofs
Click on the submit button and your Sukanya Samriddhi Yojana is good to go.
It is your choice how you would like to open your child’s Sukanya Samriddhi Yojana account.
Summing It Up
Sukanya Samriddhi Yojana is a great scheme any parent could buy for their daughter. A scheme specially designed for girl children so that parents do not have any financial problems while raising them, SSY is beneficial in every form. Easy to open with minimal premium payment options, Sukanya Samriddhi Yojana is the scheme to be trusted on.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in *All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^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. ++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^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.
Investment
Secure
Secure your Child’s Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
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