Sukanya Samriddhi Yojana FAQs

By | June 28, 2015

There are many confusion in mind of everyone one who is going to invest in SSA for their daughter. Here are some of the frequently asked questions by people who want to know more about Sukanya Samriddhi Yojana (SSY).

6 Tax saving and operating issues for Sukanya Samriddhi Account are explained below:

  1. Question: If both the husband and wife deposit for their 1 daughter proportionately, Can they both claim the income tax exemption u/s 80C? Let us assume if both invest Rs.75000 for a total of Rs.150000 P.A. which is maximum investment in Sukanya Samriddhi Account.

Answer: Only one person either father or mother, who will be nominated on Sukanya account, can avail tax exemption.

  1. Question: If the Parents have 2 daughters, can both father and mother be nominated for 2 daughters separately?

Answer: Yes. The father can be nominated as guardian for one daughter and mother can be nominated for one daughter. So the both father and mother can get tax exemption benefits in this case u/s 80C.

  1. Question: Sometimes SBI branch and Post office wants to verify the identity of baby physically. Is it right?

Answer: It is on their procedure of Sukanya Samriddhi Account to restrict fraud or miss-presentation of guardians or parents. You have to co-operate them for all Account opening formalities.

  1. Question: Can I transfer my SSA account from one post office branch to another branch.

Answer: Yes. You can transfer the Sukanya Samriddhi account to another post office, if they are not co-operating you properly.

 

  1. Question: Many Sukanya authenticated banks are not ready to open Sukanya Accounts at present and the Parents has to open account with Post office, as the age of their girl child is going to cross 10 years soon.

Answer: This year is the starting period for Sukanya Account and authenticated banks have to develop software and back-office system to start account opening of Sukanya account and by next year, almost every authenticated bank will be ready to operate Sukanya account. You need to patience for the time being and if your daughter’s age is crossing 10 years, then you can open account at post office immediately.

 

  1. Question: Which installment payment is more beneficial- monthly or yearly?

Answer: If you are paying one time annual installment at the end of the financial year, then depositing monthly installment is more beneficial as the interests are calculated on monthly basis. But, if you are paying one time annual installment at the starting of the financial year, then you can also become more beneficial. It has been explained at Sukanya Samriddhi Calculator Page.

 

  1. Question: What are the documents required to open SSA?

Answer: You have to provide Date of birth certificate of the girl child, 2 passport size photographs and ID proof of parent or guardian.

 

  1. Question: If I forget to invest any money in any year what will happen?

Answer: If anyhow you forget to pay installment any year then you have to pay a penalty of Rs.50 and reactivate your account and start it from where it was stopped.

 

  1. Question: What will happen if girl child dies unfortunately?

Answer: If such incident occurs then SSA will be closed immediately and funds will be returned to the nominee.

There are many other queries which are still in doubt as there are no clear indications from government on those points. If you have any questions in you are always welcome to post them here and we will try to answer it as early as possible.

87 thoughts on “Sukanya Samriddhi Yojana FAQs

  1. Pardeep

    My daughter is 8 yr old and i open a account today with 3000 monthly. After 21 yrs she will be of 29 yrs. But if she wants to marry in 26 than what is process for withdrawal and what is maturity value that time. Please clearify.

    Reply
    1. Anu Dey Post author

      By depositing the copy of marriage certificate your daughter can close her Sukanya Account and withdraw the money. If you deposit monthly Rs 3000/- continuously for 14 years, at 26 years of age your child will get Rs 18,00,000/- approx.

      Reply
      1. Sanjay Prasad

        If any parent or guardian unfortunately dies and cannot continue the SSY by her other guardians then what is result/provision for the accumulated funds ??

        Reply
    2. Naresh

      My daughter is 8 yr old and i open a account today with 10000 monthly. After 21 yrs she will be of 29 yrs. But if she wants to marry in 26 than what is process for withdrawal and what is maturity value that time. Please clearify.

      Reply
  2. Amit Bhatnagar

    I am depositing Rs 1,50,000 in my PPF account and getting tax exemption under 80c.I also deposited Rs 1,50,000 (after paying tax on that ammount), under Sukanya Samriddhi Yojana. Will the interest on SSY be tax free..?

    Reply
  3. Veerendra

    We have opened ssy account in post office, but now don’t have to pay online transfer option, but we need to transfer sbi is it possible, if possible what we required to submit in bank.please clear my thought.

    Reply
    1. Anu Dey Post author

      You can transfer Sukanya Samriddhi Account from post office to bank by following the procedure discussed below.

      Any of the parent or guardian who is operator of account will have to visit the Post office personally and surrender Sukanya Samriddhi Account passbook and submit Identity proof and residence proof there. You have to mention the executive that you need to transfer the account to the particular bank or post office and its reason in writing. For that write an application in the name of postmaster of that area.

      The post office will close the account and will issue you the documents you need to submit in bank where you want to transfer your account.

      With these documents now you will have to visit the bank and submit the documents received from post office along with Identity and address proofs. The bank will open the account with the current balance which the post office has confirmed.

      Reply
  4. Maya

    A colleague had opened an SSA account in his daughter’s name (age 8 yrs) . He expired last month. Is there any cover for depositor , and can the account be continued.

    Reply
    1. Anu Dey Post author

      There is no cover for depositor as it is not an insurance scheme. But account can be continued by any guardian.

      Reply
  5. r.p.

    Can parrents or gardioun widraw the ssy money after meturity.it will be joint account or only operate by account holder (doughter).

    Reply
    1. Anu Dey Post author

      Nope.. 1 Account for one daughter either in Post Office or Bank. If you have 2 daughters than you can open 1 account in Post Office for one daughter and another acc in Bank for 2nd daughter..

      Reply
  6. Sunil j.

    My wife open ssy account in post office with my 2 daughters. she is house wife amount is pay by me but I am not gate tax benift can I transfer account with my name. How I gate tax benifit?

    Reply
      1. HARI

        can u please give me the process of changing the guardian in this case ?

        Reply
  7. Swati

    Whether deposit amount is flexible; Say first year i deposit 1000 INR and another year it goes 150000 .

    Can we deposit , it as in PPF

    Reply
  8. JAYESH

    I have problems to deposit in ssa AC our local area branch not accept in Bank of Baroda bank. I have many long distance other Bob branch other wise any help to

    Reply
  9. Pratap

    Can I deposit money in SSA post office through netbanking from SBI, HDFC or any other bank.

    Reply
      1. pratap

        If have opened SSA in post office ‘A’ and can I deposit in that account from post office’B’ Or I have to deposit money physically in that particular post office ‘A’

        Reply
  10. Pratap

    If have opened SSA in post office ‘A’ and can I deposit in that account from post office’B’ Or I have to deposit money physically in that particular post office ‘A’

    Reply
  11. Biswakalyan Mohanty

    Hi,

    We have opened SSY for both my daughters in Post Office in Bellandur, Bangalore. But, now we have relocated to Bhubaneswar. What is the procedure to transfer that to any post office or bank in Bhubanewar ?

    Regards,
    Biswakalyan.

    Reply
    1. Anu Dey Post author

      Go to nearest Post Office and complete the transfer form and other formalities..

      Reply
  12. Kamlesh Manwani

    Hi,

    If I open SSA now for my daughter being in India and later we get a chance to work or stay abroad for sometime (few months or years) then will there be any issue with the SSA?
    As it was mentioned that NRIs cannot open this Account, does it mean that the girl cannot hold NRI status later as well? Kindly advice.
    If the depositor is working abroad, is there any issue with SSA?

    Awaiting yous, thanking you.

    Reply
    1. Anu Dey Post author

      There will be no issue in this if you are not settling permanently in abroad.

      Reply
  13. Pandey

    Hi,
    I have opened ssa account in 2015 @ 9.2% per annum. Now it has changed to 8.4%. Now please tell me what interest I will get 9.2% or 8.4%. Thank u

    Reply
  14. AKSHAYA KUMAR ROUT

    Can i make online fund transfer from netbanking of any bank account to SSY Account.

    Reply
  15. AKSHAYA KUMAR ROUT

    My home branch “Central Bank of India” employees strongly refused to open SSY account in the name of my girl.
    What should I do?
    Plz help me?

    Reply
  16. Anil

    Hi,

    My father opened SSA for my daughter 2 years back. Later I got to know that only parents or legal guardian can start SSA. My father has opened the account with nearest post office and he is contributing to it. Is it possible for me to open another SSA account for her now? If not can I transfer the account from my fathers name to my name as only one account is allowed per child.

    Thanks,
    Anil

    Reply
  17. VR

    I have opened a SSY in my daughter’s name where I am the depositor. Is it possible to transfer it to my Spouse’s name

    Reply
  18. Sangi singh

    I have opened ssy account with my name and my daughter’s name .but amount is paid by my husband. Can he take the tax benefit. Or can I transfer this account to my husband’s account. Amounts is paid by my my husband through transfer only in SBI bank.

    Reply
    1. Anu Dey Post author

      Only Guardian at the time of acc opening will have tax benefit.

      Reply
  19. Daxesh darji

    My wife and may daughter are opened ssy account …but i pay in ssy account …and wiil i get tax benifit in 80c ..

    Reply
    1. Anu Dey Post author

      Only Guardian at the time of acc opening will have tax benefit.

      Reply
  20. Mulk Raj Anand

    Hello,
    My wife and I are Indian citizens residing in India but our daughter was born in the US. Can we open Sukanya account for our daughter? I went to a post office and they had no information on this so refused to open the account. Please help.
    Regards.

    Reply
      1. Rohith

        Mine is similar case. Though my daughter is born in US, we moved back to India when she was 2 months old. She also has Indian passport and Adhaar. But has birth certificate from US as she was born there. Is she eligible for this account?

        Reply
  21. lavi jain

    we both parent opened ssy account for our single girl child now we want to close 1 account.how to do the same

    Reply
  22. prashanthi

    Hi,
    I’ve opened SSY accounts for both my daughters with SBI bank. I would like to confirm if I could transfer monthly installments from any bank or money transfer should be made from my SBI account alone? Please confirm..

    Reply
  23. Anuj

    can money be transferred in ssy acc by NG (one out of father or mother) only as mentioned at the time of acc opening? or both can invest in the same account? It is not a question of tax exemption which is quite clear from the earlier posts.

    Reply
  24. Issac Mathew

    We have 2 grand children. Whether the grand prarents are permitted to pay SSA payments and get the tax benefits. Is it necessary that we have to make payments every year or we can even make one yearly payment and stop or we should countinue for any specific period
    Thanks

    Reply
    1. Anu Dey Post author

      Grand Parents as Guardian can pay and avail tax benefit. You have to pay minimum ₹1000 every year to keep account active..

      Reply
  25. Sekar

    Subject :
    Consider that Dad and mom both are working and Dad has opened SSY account in SBI for his one and only daughter at age of 0 to 1.

    Situation 1 :
    If dad met an accident and daied before his daughter turned age of 10 then what will happen on the SSY account.
    1. Can her mom continue the SSY account by depositing the remaining years and final settlement withdraw by her daughter once she turned age of 21 ?
    2. Is there any way to change the Guardian as mother name during this situation?

    Situation 2 :
    If dad met an accident and daied after his daughter turned age of 10 then what will happen on the SSY account.
    1. Can her mom continue the SSY account by depositing the remaining years and final settlement withdraw by her daughter once she turned age of 21 ?
    2. Is there any way to change the Guardian as mother name during this situation?

    Reply
    1. Anu Dey Post author

      Yes, in both situations Mother can continue as guardian..

      Reply
  26. Gnanasekaran Uthirapathi

    If the father died who opened account for his one and only daughter before she turns age of 10 will her mother can continue the SSY account on behalf of him or account should be closed.. ??

    What if the same situation happened after the daughter turned above age of 10?

    Reply
    1. Anu Dey Post author

      In both situations Mother can continue as guardian..

      Reply
  27. Mithun

    I had opened SSY account for my daughter in October 2016.
    But few months later my wife started working and she has more quota left in her section 80C than me.
    So I wish to transfer the SSY in her name. Is it possible anyhow?

    Reply
  28. Umakant Patil

    For my daughter, my wife is registered as guardian and the money is debited from her account. My wife doesn’t take any tax benefits. Can I take those tax benefits by claiming that ssy amount? Anyway, it’s me who transfer the funds for it to my wife. If no, can I change the guardian now?

    Reply
  29. Nayan Dey

    I had opened SSY account for my daughter in October 2015
    But few months later my wife started working and she has more quota left in her section 80C than me.
    So I wish to transfer the SSY in her name. Is it possible anyhow?

    Can we change the guardian in order to get tax benefit??

    Reply
  30. SHARANYA GRG

    HI
    1. While opening SSY account ,my daughter was indian resident. we had no plans for any relocation during that time, but now we have applied for australian PR and visa got apprved. At the end of 21 yrs, my daughter might become Australian resident. we had deposited around 60k now . Is there any chances of withdrawal now? or can we get back the prinincipal amount at the time of maturity?

    Reply
  31. Vaneet Kumar

    I have ssy account for my daughter in canara bank. non availability of e transfer facility i want to transfer it in sbi but sbi refused to open account in this situation what i have to do.

    Reply
    1. Anu Dey Post author

      File a RTI to them to give this in writing..

      Reply
  32. Neela Jay

    Hi Anu,

    Me, my wife and our daughter lives in US and holding Indian Citizenship.
    Is it possible for my parents(Grand parents to my kid) to open SSY account in india ?
    Do parents needs to be physically present along with girl child in post office or bank to open the accounts?
    Do grand parents can act a legal guardian and open accounts in india without the presence of girl child & parents?

    Thank you

    Reply
  33. Roshan nihara

    Hi. We have two ssa account he on our single daughters name . My husband opened it previously without my knowledge . When I came to my home city I opened it hearing the scheme . We found that six months before. Past six months we are not paying on the second account. Now I have to close the second account . What shall be the procedures ? Pls kindly help me. Second account was started after an year of first account .

    Reply
    1. Anu Dey Post author

      Make an affidavit from Notary about this and surrender one account..

      Reply
  34. paras johari

    सर मैं जानना चाहता हूँ कि खाता पूरा होने पर रुपये निकालने का अधिकार किसे होगा बेटी को या पेरेंट्स को

    Reply
  35. M Govinda Rao

    Sir, My Friend open SSY Ac at Postoffice for his Daughter ,he continues to pay Regularly ,But Recently He Death with Health Problem, He is Only one person to source to Pay Amount But Present He is Died, There is no Chance to Continue that Account what will do for this Case
    Kindly give suggestion as soon as possible

    Reply
  36. Raj Kumar

    I have open an Sukanya samridhi account for my daughter.Can I transfer this account into my wife name as gaurdian.

    Reply
  37. Ammu

    One guardian has four girl children. Mother opened SSA accounts in the name of first two children and father opened two SSA accounts in the name of rest two children.is it possible?If not what will do to close two accounts?Also paid monthly installments for atleast one year.while closing two accounts what interest will they get?Whether they want to repay the interest they drawn?What amount they will get while closing?

    Reply
  38. Chinna

    If my wife is gaurdian, can I show it in 80c or do I need to gaurdian to rebate tax

    Reply
  39. spbk

    my daughter is 9.5 yrs old can i open account?
    how many years i have to pay as installment for 14 yrs. or up to 21 yrs of her age?
    what is the maturity of account

    Reply
  40. Niranjan T R

    Hi,

    I am an Indian citizen working in the UK. My daughter was born in the UK and is 4 months old. She is an Indian citizen. Is she eligible for SSY ?

    Thank you

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.