1. Very well explained Kiran.

    Recently I have visited my nearby post office and form there I found that Post offices with savings account opening facility can open a Sukanya Samriddhi Account. Regarding banks Andhra bank, PNB has no idea about this scheme. And again for banks also only few special branches of every bank in a city will be facilitate in future to open this account. But we have to wait for next step.

    Definitely a great scheme as the purpose is to accumulate money for the girl child education and marriage. Although there could be other options, I believe for them there is no motive of investment. But a long way to go and more features need to be added to make this scheme a real success for the betterment of women-hood in our country.

    • can any body say when a people open ssa account after some days that person death or permanent disability who operated this account if that person not done any lic or insurance investment very low amount .

  2. Nice write up Kiran,

    Though wanted to clarify if the scheme is for total 21years or till the child is 21years of age?? Many web sites claim its 21years of age.

  3. Thanks for such a detailed article. I have one question.

    Now we have 2 safe and tax free investment options which are for long term savings- One is PPF and Other is this sukanaya a/c. Do you advise if someone has 2-3 lakh of saving window available every year, then one should do in these 2 accounts only. I am a conservative investor and have horizon of 15-20 years. Goal would be my retirement and my daughter’s education .

    • I think you got the point. Yes, if you have enough money then both these small deposit schemes would be best to create a corpus. Max you can deposit 3 lakh in both the account.

    • Thanks Supriya.
      PPF and Sukanya Samriddhi are excellent options for conservative investors. But while investing you need to understand that there are several other factors that come into play when you talk about goals like retirement. As mentioned in the article you might need to supplement it with other investments over the long term to meet your goals, these products by themselves might not able to give you the entire corpus that you need.

  4. Thank you Manikaran ji for sharing such a superb post. I would like to know more about the details of banks, where I can open Sukanya Samriddhi Account.

  5. It is not clear as and where government is helping or contributing for the beti’s bachao. the scheme seems to be normal saving or RD type account on the name of the child which normally the parents opt for. Other than Tax benefit, no other benefit is desernible.

  6. Great initiative by Govt however their should be an online mechanism to opt for the same. It is difficult to deal with bank especially when they are clueless and least interested.

    • Online facility has been started for them who has opened Sukanya Account via bank only. Its like transferring money for PPF account. But for post office It will take time as they don’t have any online mechanism for any product so far. I think one can easily transfer the account from post office to bank and then send money online.

      • Thanks for the info Santanu. Btw is there any way one can transfer post office account to bank? I mean do you know the process?

  7. Though wanted to clarify if the scheme is for total 21years or till the child is 21years of age?? Many web sites claim its 21years of age. What documents is required.

    • The sukanya samriddhi yojana account will mature after 21 years from the date of opening of the account.So if the account is opened for a girl 9-10 years of age today, the maturity will be at her age of 30-31 years.You may get this cross confirmed at the time of account opening

    • Sukanya Samriddhi scheme is available with the post office, you may check it with them. we are expecting post office to go digital very soon. So, if it is not available today, it may be available in future.

  8. Hi,

    Can we change the amount deposited for various months in a year or should it be a fixed amount for the whole year ? For e.g., can I deposit Rs.5000 /- in Feb 2020, Rs. 3000 /- in March 2020, Rs. 6000 /- in April 2020 etc. or should it be only Rs. 5000 /- (example) for the whole year (2020).

    • The account can be opened at any post office in India and all public sector banks.
      Please visit nearest post office branch or branch of any public sector banks, they may guide you on the account opening process. following documents are required:
      -Birth certificate of the girl
      -Address proof
      -Photo identity proof of the girl
      -Photo identity proof of the parent/legal guardian

  9. I would like to invest 2000 per month for next 6 years. Already in this account around 20k is there after 6 year what will be the benefit I will eatn

    • Not sure, what do you mean by benefits, I guess you are asking the corpus you would accumulate in 6 years, considering the current interest rate of 8.5% continues for the next 6 years, the estimated corpus could be around Rs.2.25 lakhs, as per my calculations.
      However, please note that It is not a full proof statement, the actual corpus may vary.

  10. HI,
    from last 1 year I already invested 10k per month, but from this 2nd year i want to increase from 10k to 12.5k per month. i believe it is very much possible. can any one suggest.


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