Quick Answer: How Many Times We Can Deposit Money In Sukanya Yojana?

Can I deposit different amount in ssy?

The account may be opened with a minimum initial deposit of Rs 250 and in multiples of Rs 50 thereafter.

To keep the SSY account active, one needs to make a minimum deposit of Rs 250 each year.

The total amount deposited in an account should not exceed Rs 1.5 lakh..

Which is better PPF or Sukanya samriddhi Yojana?

In fact the SSY interest usually remains higher than the rate of interest of PPF. For example, currently the rate of interest on SSY is 8.4 per cent, while that of PPF is 7.9 per cent. On the other hand, most banks offer less than 7 per cent interest rates on long-term FDs.

Which bank is best to open Sukanya samriddhi?

List of Banks Offering Sukanya Samriddhi YojanaCanara bank.Dena Bank.State Bank of India.State Bank of Bikaner & Jaipur.State Bank of Patiala.State Bank of Mysore.State Bank of Travancore.State Bank of Hyderabad.More items…•

Is PAN card mandatory for Sukanya samriddhi Yojana?

Documents that are required to open a Sukanya Samriddhi Yojana Account: *Sukanya Samriddhi Yojana Account Opening Form. *Birth certificate of the girl child (account beneficiary). *Identity proof of the depositor (parent or legal guardian), i.e., PAN card, ration card, driving licence, passport.

Is Sukanya samriddhi maturity tax free?

The scheme comes with the exempt-exempt-exempt (EEE) status. This means that: Your investments towards Sukanya Samriddhi Yojana are eligible for tax deductions under Section 80C of the Income Tax Act. … You do not have to pay any taxes on maturity or withdrawal.

What is the minimum amount required to open an account under Sukanya samriddhi Yojana SSY )?

The SSY account can be opened for a girl child before she turns 10 years. To open this account, a minimum of Rs 1,000 is needed to be deposited and a maximum of Rs 1,50,000 lakh can be deposited in a year, under this scheme.

Can cash be deposited in Sukanya account?

You may deposit cash/ cheque in Sukanya Samriddhi Yojana (SSY) account by visiting ICICI Bank branch or do fund transfer through the linked guardian’s account.

How many times we can deposit money in Sukanya Yojana in a year?

When can the account be opened? A Sukanya Samriddhi Account can be opened any time after the birth of a girl child till she turns 10, where you will have to deposit a minimum of Rs 250. In subsequent years, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.

Can we deposit money in Sukanya samriddhi account online?

Yes, with the launch of India Post Payments Bank (IPPB), the monthly installment of RD amount can be transferred online into your RD account. Even PPF and Sukanya Samriddhi Account premiums can be paid online through IPPB. 1) Add money from your bank account to IPPB account. 2) Go to DOP Products.

What is the maturity amount of Sukanya samriddhi account?

Overview of SSY Account CalculationAmount (Yearly)Amount (14 Years)Maturity Amount (21 Years)10001400046,82120002800093,6435000700002,34,107100001400004,68,2155 more rows•Sep 2, 2020

Can I open both PPF and Sukanya samriddhi account?

You can open both Sukanya Samriddhi Account and PPF account for your minor child.

Which policy is best for girl child?

Top 10 Government Girl Child Schemes in IndiaCentral Government SchemesState Government SchemesBalika Samriddhi YojanaKarnataka Bhagyashree SchemeCBSE Udaan SchemeMazi Kanya Bhagyashree Scheme from Government of MaharashtraNational Scheme of Incentive to Girls for Secondary EducationWest Bengal Kanyashree Prakalpa3 more rows•Sep 1, 2020

Can both mother and father open Sukanya samriddhi Yojana?

Only biological parents and legal guardians for a girl child can open a Sukanya Samriddhi Account on behalf of their child. One parent or legal guardian can open a maximum of two accounts for their girl children.

Can I open 2 Sukanya samriddhi account?

A Sukanya Samriddhi Account can be opened any time after the birth of a girl child till she turns 10, where you will have to deposit a minimum of Rs 250. … You can only open and operate one account in the name of the girl child. You can’t open two accounts for one girl.

Which bank is best for Ssy account?

The Reserve Bank of India has authorized the following banks to open Sukanya Samriddhi Savings accounts (SSA).Axis Bank Sukanya Samriddhi Yojana.Andhra Bank Sukanya Samriddhi Yojana.Allahabad Bank Sukanya Samriddhi Yojana.State Bank of India Sukanya Samriddhi Yojana.Bank of Maharashtra Sukanya Samriddhi Yojana.More items…

Which is the best scheme in post office for girl child?

Sukanya Samriddhi YojanaSukanya Samriddhi Yojana is a government-backed savings scheme as part of the “Beti Bachao, Beti Padhao Yojana” for the benefit of the girl child. It can be opened by the parents of a girl child below the age of 10.

How much money can be deposited in Sukanya Yojana?

A Sukanya Samriddhi Account can be opened any time after the birth of a girl child till she turns 10, where you will have to deposit a minimum of Rs 250. In subsequent years, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.