Sukanya Samriddhi Account Scheme / Yojana Calculator

It is a small deposit scheme for the girl child launched as a part of “ Beti Bachao and Beti Padhao “ for the benefit of girl child.  It comes with a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income-tax Act. Further, the interest accrued, and maturity amount is exempt from tax. 

The interest rate for Sukanya Samriddhi Yojana is 8.5% for financial year 2019-2020.

One can open the Sukanya Samriddhi account any time after the birth of a girl till, she turns 10 in the post office across India. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.  

Sukanya Samriddhi Yojana Calculator helps you in determining, the amount of money the individual will receive on maturity.  

The interest rate in Sukanya Samriddhi Yojana Interest rate in 2017- 18 is 8.1. 

One can get the SBI Sukanaya Samriddhi Yojana account form directly from the SBI website, in case if you want to open an account with the SBI.   https://retail.onlinesbi.com/sbi/downloads/suknya_smridhi.pdf 

The interest of Sukanaya Samridhi Yojana interest rate in Fy 2019-2020 is 8.50%. 

The maximum age limit for Sukanya Samridhi Yojana age limit is 10 years, followed by a grace year. This implies that she will be eligible for open a Sukanya Samriddhi account till the maximum age of 11 years.  

Sukanya Samridhi Yojana is a saving scheme for girl children, with the aim of securing the girl children future. One can easily open the account with axis bank.  

• Birth Certificate of girl Child 
• Identity Proof of Depositor (Parent or legal guardian) i.e. Pan card, ration card 
• Address Proof of the depositor (parent or legal children) 

 The scheme provides income tax benefit maximum up to Rs 1.5 lakh.   

Sukanya Samriddhi yojana is a saving scheme for every girl child launched by the government, where they or their parents can deposit money for securing their future financially. One can easily open the account with PNB too.  

The scheme was launched on 22 Jan 2015.  

List of Sukanya Samriddhi Yojana bank List.    

1. Allahabad Bank 
2. Andhra Bank 
3. Axis Bank Limited 
4. BOB – Bank of Baroda 
5. BOI – Bank of India 
6. Bank of Maharashtra 
7. Canara Bank 
8. CBI – Central Bank of India 
9. Corporation Bank 
10. Dena Bank Limited 
11. ICICI Bank Limited 
12. IDBI Bank Limited 
13. Indian Bank    
14. IOB – Indian Overseas Bank 
15. OBC – Oriental Bank of Commerce 
16.  P&SB – Punjab & Sind Bank 
17.  PNB – Punjab National Bank 
18.  SBBJ – State Bank of Bikaner and Jaipur 
19.  SBI – State Bank of India 
20.  SBH – State Bank of Hyderabad 
21.  SBM – State Bank of Mysore 
22.   SBP – State Bank of Patiala 
23.   SBT – State Bank of Travancore 
24.   Syndicate Bank 
25.   UCO Bank 
26.   Union Bank of India  
27.   United Bank of India 
28.    Vijaya Bank 

The rules of Sukanya Samridhi Yojana are as follows:   

• The girl child will be below at the age of 10 at time of account opening.  
• One cannot open multiple Sukanya Samriddhi yojana for a single child.  
• There will be only two SSY account are allowed for a family.  
• The minimum annual contribution to the Sukanya Samriddhi Account is Rs 250 and a maximum of Rs 1.50 lakh in a financial year.  

The difference between Sukanya Samridhi Yojana and LIC Children Plan (as LIC Kanyadan Policy) 
 

• The age limit of Sukanya Samridhi Yojana is 10 years and for LIC Kanyadan Policy for Daughter is one year.  
• Sukanya Samridhi Yojana is for only Indian citizens, whereas outsiders can also buy.  
• The girl child is the holder of the savings account until her marriage in the case of Sukanya Samridhi Yojana, whereas in the case of LIC Kanyadan policy, father of girl child is the holder.  
• The Sukanya Yojana has a limit of Rs 1.5 lakh in the financial year, but for LIC Kanyadan Policy, there is no limit.  

Let’s look at the difference of Sukanya Samriddhi Yojana vs Children Mutual Fund:  
 

• Sukanya Samriddhi Yojana is especially for girls, while the Children mutual fund is for all children.  
• In case of Sukanya Yojana, maximum one account is opened. While the case of child mutual fund, there is no limit.  
• The maximum age limit for opening a CMF account is 18 years. While in the case of SSY is 10 years. 
• There are no penalties for nonpayment in case of Children mutual fund, while in the case of a mutual fund, there is a penalty of Rs 50 for nonpayment.  

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Let’s compare the Sukanya Samriddhi Yojna vs SIP:  

SIP is not an investment scheme. It’s mainly a process through which one invest in a mutual fund at regular intervals. In case of Sukanaya Samriddhi Yojna, it is a fixed income instruments, but there is no cap on equity mutual fund. More so, if invested for longer time period, then SIP in equity mutual fund provides better returns compared to Sukanya Yojna.  

You can get the Sukanya Samriddhi Yojna form directly from the respective branch of listed banks or directly through the website of the Scheme.  

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One cannot open the Sukanya Samriddhi Yojana Online at authorized bank branches or online. But once the account is opened after submission of all the documents, you can set the standing online.  

Sukanya Samriddhi yojana calculator helps you in finding the amount one will receive after a certain period of time with certain investment.  

Sukanya Samridhi yojana is a saving scheme for every girl child launched by the government, where they or their parents can deposit money for securing their future their financial future with the HDFC Bank. One just needs to visit the bank branch.  

Pradhanmantri Sukanaya Samriddhi Yojana is launched by PM Modi under the “ Beti Bachao and Beti Padhao “ Yojana. The campaign carries a message “Save the girl and educate the girl ‘’. The aim of the Yojana is to secure the future of every child, by facilitating their parents to build a corpus over a period of time for their education or marriage expenses.  

The interest rate of Sukanya Samriddhi Yojana interest rate of 2016-17 is 8.6%.  

The Yojana provides income tax benefit under section 80C of the Income Tax  

1961. One can claim tax deductionuptoRs 1.5 lakh.  

It is a small deposit scheme for the girl child launched as a part of “ Beti Bachao and Beti Padhao “ for the benefit of girl child.  It comes with a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income-tax Act. Further, the interest accrued, and maturity amount is exempt from tax. One can open the account with ICICI.  

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The interest that accrues against the account which gets compounded annually is also exempt from tax.  

 The eligibility for Sukanya Samriddhi is that: 

• It’s only for the girl children.  
• The maximum age of a girl should not be more than 10 years.  

check details here: http://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=89

To get Sukanya Samriddhi Yojana Passbook, the account holder can download the application from the respective bank.  

There is no customer care or helpline number. But one can choose to contact the bank branch.  

The account will remain operative for 21years from the date of its opening or till the marriage of the girl after she turns 18. 

There is no mandatory requirement for Aadhaar card.