About the author: Santanu

I'm Santanu, co-founder of mydailylifetips.com. Love to read & write about Life hacks, How to guides, Money Saving tips and travel stories on this space. Checkout my first Hindi YouTube Channel on Personal Finance Guide.

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189 Comments

  1. I joined sukanya acount 2015. 10000/month. That time I don’t know NRI can’t open this acount . This mater now informed bank manager he told can’t close this acount can you reply formalities of closing acount

  2. Hi Santanu,
    from last 3 years i am in finland on project carrying Work permit after project closure we will move back to India this is what written in my contract as well, one query – we had our first baby in 2015 here in finland am i allowable to open SSY account or not , if yes can you please guide me process which i can do from here.

    thanks

  3. There is first Question .. Hi Sir, In case of death of depositor (Father/Mother) in SSY, what would happen, if spouse is not able to deposit continuously? — Kindly suggest about benefit and about account

  4. Hi Sir, In case of death of depositor (Father/Mother) in SSY, what would happen, if spouse is not able to deposit continuously?

  5. Dear Santanu.

    It was a useful article and your answers to many questions were insightful.

    I have a question, and hope you can answer.
    I opened a Sukanya Samriddhi account for my daughter during 2014/15 financial year by paying the minimum of 1000rs.
    Unfortunately, I did not deposit anything during 2015/16 financial year and also this current financial year 2016/17 till date.
    Now technically, how much maximum I can deposit as on date?
    Can I put 1.5 lacs of previous year maximum which I missed to pay (plus 50rs fine) and 1.5 lacs for present financial year?
    Or I can just deposit up to 1.5 lacs maximum this year and pay last year’s fine of 50rs (ie I can’t pay the 1.5 lacs maximum I missed out last year)?

    Thanks!

  6. Hi,
    An SSA a/c is opened for my child by her mother in Bank i.e. mother is register as a/c handler. But all transaction are going by me.Then….
    1. Can I get tax benifits ?
    2. If No, then can a/c handler changing is possible ? Procedure ?
    Plz suggess me

  7. Hi Sir,
    Regarding the SUKANYA SAMRIDDHI ACCOUNT
    If my wife open the account behalf of girl, shall I claim the tax exception ?

    please clarify
    Thanks
    Suresh.k

  8. I have opened Sukanya Samriddhi Account for my daughter. Can my daughter’ maternal grand parent wants to pay yearly contribution of Rs. 1.5 lacks. My question is that if they pay can they claim u/s 80C while filing the returns.

  9. sir ,
    open account Sukanya Samriddhi Account scheme for my child she is 7 years old in case i pay 1,50,000 one time after yearly 1000 or 2000 i will pay if it is ok

  10. Hi Shantanu Ji,
    An SSA a/c is opened for my child by her mother in post office i.e. mother is register as a/c handler. But all transaction are going by me.Then….
    1. Can I get tax benifits ?
    2. If No, then can a/c handler changing is possible ? Procedure ?

    Plz suggess me. I have holded the payment due to this.

    thx in advance

  11. Hi Santanu,

    I want to open Sukanya Samriddhi Account for my neice, I am not the legal guadian of her. So, Can I do that ?

  12. hi sir,

    i have opened SSY account in icici bank, but they are not providing the online transfer facility. because of this i want to transfer the account to some other bank like, whether it is possible, please suggest.

  13. Hello Santanu,
    I recently approached ICICI bank to open SSY account for my daughter. They advised to open one Young stars(Junior) account first and then link the SSY with it to transfer money. They said this is mandatory process. I asked if my own savings account with ICICI could have been linked to SSY to transfer money, which they denied . Did they mislead me ? Thank you in advance.

  14. Hi Santanu,

    Is there any rule in Suknaya Samriddhi account, at one pancard only one girl child account will open?
    because i applied for both my daughter, bank accepted one, bank executive told me system not accept the two child at one pan card number.

    please conform for the same.

  15. Hi Sir,
    I have join the sukanya for my daughter from Nov 2015 via SBI. We know the every march end of the month you can see intreset rate status. But in my case or sukany I have checked in sukanya passbook after printing only account interest updated it’s 160 Only. Can you please clear my doubt.

  16. Hello,
    I want to ask a question that in case the girl child and the account holder both are died in that case who will receive the money?
    Thankyou.

  17. Every month on 1st I have scheduled transaction of 12500/- via online to ICICI sukanya samriddhi.
    I have last 10 successfull transactions and also the limit is not crossed/reached yet. But suddenly this month the transaction is not executed and I tried doing it manually via online, but it is rejecting. On calling ICICI they said due to “General reason” now the online faciility (NEFT or to any other ICICI transafer) is not available from this month, so you can deposit by cash or cheque in any ICICI bank. But I opened the account in ICICI just for online transfer. Now still I can see on SBI website that NEFT is allowed.
    Just wanted to know that Is there any such rule of not allowing online transfer implemented , I searched overall but didn’t find any.

    1. Hi Aniket, Could you please let me know how did you make online transfer to SSY account? I am not able to transfer to my daughter’s SSY account from my ICICI bank account.

  18. Dear Santanu,

    presently i am working in qatar, last month i opened the SSY account with my wife name for my two daughters those are staying in india,
    i think unfortunately i opened this account without knowledge of some restriction in SSY,
    now a days i have planned to discontinue and also to transfer PPF / Mutual fund, is it possible please clarify?

    1. Transfer to PPF or Mutual Fund is not possible and there are certain premature closure rules as well. Better you contact your bank or post office and request for closure explaining your situation.

  19. Hi Shantanu!,

    I have query that If which deposit will be good i.e. 1.5lac once in a year or 12,500/month?????

    Regards
    Amit.

  20. Hi sir,

    If my husband opens an sss account for my daughter and I want to avail this as my tax benefit. As my husband is not using it.

    Please let me know whether it is possible or not

    Thanks
    Saritha

  21. Dear Sir,

    i have two girls account in last one year.know recently one girl child born .is that possible to open third child also account.i mean i can open three child in three account for sukanya samrithi.

  22. Hi Santanu,
    Me and my wife both are working at present. If I open the Sukanya account and make my wife as depositor, she can claim for 80C tax benefit now. But if she quits working in future then can I claim for the 80C tax benefit after that?

  23. I’ve recently opened a sukanya samriddhi account in my daughter’s name and futher wants to open another PPF account in her name, but the bank staffs (SBI, Kolkata) are saying that this is not allowed. Is it really so, because these are 2 separate schemes. Can you please confirm?

  24. i have presently started sukanya samriddhi account in year wise 12000 per year wise . i need little more clarification of plan consider 1000 pm or 12000 per year .i wanna deposited 12000 per year for 14 year but confused they consider plan …so clear my doubt …

    1. You can goahead as per your wish. But minimum deposit should be 1000 per yr without fail if so they may charge upto 50 to 100 rupees. Monthly deposit may earn you more than yearly.

  25. Dear Sir,

    I have not yet open account in SSY, but if I have utilise 1.5 lakh limit with my PPF account. And if I further invest 1.5 Lakh in SSY, then is it OK ?

    I know I can not claim tax exemption for more than 1.5 lakh. But can I use SSY account to park my excess money and getting growth throgh it ? Should I add the interest gained in SSY account to my IT return or it is tax free ?

    Please kindly share your views…..

  26. Hi Santanu,

    What is the difference between post office & banking which one is the best for opening Sukanya Samriddhi account.
    please clarify

  27. Hi Shantanu,
    I have opened Sukanya account in one of the post office in MADHAPUR. My daughter is 5 year old .I Paid amount last Year for 5-6 Months ,than after due to some problem, i was not able to pay the amount in Post office.Kindly Suggest me that can I continue the same account or Shall I open new account

  28. Hi Santanu,
    Hope you are doing good,

    After 21 year legal guardian or as mentioned on SSA Pass book can withdral this money or only Girl keep the right to take this money. Can gilr withdrwal this money without parents signature.

    Kindly make us clear regarding this.

    have a good day
    Thanks

  29. CAN I TRANSFER MY SUKANYA A/C TRANSFER FROM ONE POST TO ANOTHER POST OFFICE IN ANOTHER STATE/DISTRICT?

  30. HI I open sukanya a/c 2014 in gokal puri delhi post office my daughter age 9.5 can i deposit manny any
    Post office branch in delhi

  31. Hi ,
    Can any one of the parent staying in India avail SSA benefits for the kid having indian citizenship?

  32. If two account open for same girl child by mother and father respectively in different post offices then pls suggest how to close one of them and pls confirm is there any penalty for that

  33. Hi, Shantanu !,

    I have two daughters and i have already opened one account for each daughter in post office and right now i want to open one more account for each girl in the sbi. Is this possible

  34. Hi,

    I have opened Sukanya Samriddhi Yojana Account with Initial deposit of Rs 1000. After few days by mistake I deposited an amount of Rs 1,49,500 instead of Rs. 1,49,000 by way of cheque. The cheque got cleared.

    Now considering the limit of Rs 1,50,000, will my extra deposit of Rs 500 be considered?

    Please let me know.

    Thanks,
    Shrinidhi

    1. I don’t think it will be an issue. Either bank may not track that extra amount & you will get interest, otherwise your extra amount will not get interest rate and income tax exemption. Please get clarified in the bank. 🙂

  35. How to check balance in SSA account for my daughter online. How to link SSA account to my account so that i can see the balance online.

  36. HI ,

    My sister is staying in USA and she gave birth to baby girl. Please let me know whether i my sister daughter is eligible for this SSY Schema.

    Regards,
    Murali

  37. Hi,
    How the one year period is calculated? whether one year from Account opening date or the financial year from April – March?

    1. I have opened SSA in sbi bank, can i transfer amount to that SSA account from my other bank (Yes bank) through net banking? can some one suggest please.

      Thanks,
      Anand

  38. Hi Santanu,

    Greetings.

    I am divorcee and have 6 year old daughter. My Father In Law had opened this account for my daughter in Post Office of Karnataka and had deposited around 60K.

    Now, I want to deposit higher amounts in this account and also claim tax benefits under 80C.

    I do not want to transfer the account from post office but deposit money from my end, there.

    1) In such case how to deposit and also claim tax benefit.
    2) Can v vary the amount amount deposited from year to year?

    Thanks in advance,
    Regards,
    Raghavendra

  39. Sir,
    If i deposit Rs 15,000 per then how much interest should I give me the details of Rs 15,000 annualy deposit. give me brief in table also with interset, it should be easy for me,

  40. Hi
    I am second wife to my husband I have one year girl child. He have one more daughter to his first wife. Already he had opened account for his first child.. Can I open account for my child.. It is bigg question for me.. Please suggest..

  41. sir my name is kumar raja.my brother in law was no more.he is the guardian of his daughter account.but my sister is a house wife.she cant pay the premium.so what can we do.suggest me

  42. HI Sir, Myself , husband and daughter residing abroad,three of them have Indian citizenship . My daughter born in India only. her grandmother opened SSA for her and she depositing money.. Is This account is valid and whether she will get money on maturity . Please reply

  43. Hi sir, I have open SSY account in Trivandrum post office now I have transfer to Assam . So I want to transfer account from Trivandrum to my home town Lakhimpur Kheri but they said it wiil not transfer . What I do? plz suggest me. I have deposited 4000 Rs.

    1. I think you have to close the account in that post office and open a new one in your current location with reference to the old one. Contact your nearest post office for accurate information.

  44. Hi,

    My Father opened a SSA in the name of my daughter without informing me at my native place in Post office. I also opened a SSA for my daughter in Bank. Kindly suggest what I should do

      1. Is this maximum deposit in a year a financial year considered or from the date of opening the account. E.g. I opened an account for my daughter on 1st Nov 2015 andmade a deposit of Rs 1Lakh .
        Am I allowed to make another deposit for Rs 1 Lakh on Feb 2016?

        I tried to do a NEFT transfer from another bank to SBI but it returned saying maximum amount reached in the account.

    1. I think if you have opened this account in any Bank only and you have the savings account form that bank, then you can transfer money to Sukanya Samriddhi Account online.

  45. Hi Shantanu,

    I have opened Sukanya account in one of the post office in Hyderabad. My daughter is 9 year old and while depositing the amount in post office this month out of curiosity I’ve asked post master about withdrawal. He told me that you cannot withdraw amount till 21 years from the account opening date. He said its clearly mentioned in the post office website. That means as of now my daughter is 9 year old so I will only be able to withdraw money when she attain age of 30 (after 21years). I think its very confusing and if we save for girls marriage then its going to be disaster & of no use as generally girl marriage happens early. I want to know whether we can withdraw money and close account when girl reaches age of 21 or is it only when account complete its 21 year of existence.
    Below update is mentioned in post office website,
    “Account can be closed after completion of 21 years.”

    Your early reply will be much appreciated.

    Regards
    Babloo

  46. Hai santanu,

    I want to open SSY to my child, In whose name it was it has to open, my name or my wife name to avail tax benefits.

  47. Sir,
    I want to open my daughter’s sukanya samiridhi account … but Sbi bank said that only father can open this acc… not. Mother… we both are working. Is there any rule that mother can’t open account and have its tax saving benefits…

  48. Hi,
    My daughter is 8.5 years old.I am a housewife.I want to open sukanya samruddhi account in her name , me as a legal guardian.Can I avail full Rs.1,50,000 benefit without claiming tax benefit?

  49. Thanks for the info. Can both parents invest separately in a single girl’s account? If so, what would be the upper limit? 1.5 lakhs each or total 1.5 lakhs? Also, can both claim 80C exemption for the amount they invest?

  50. I am NRI, already open SSA account for My daughter should I close the account.
    I presented birth certificate issued in out side India

    1. Hi Ganesh,
      How did you manange to do that? Which city did u open the account bcz i am facing issue to open account for my daughter having her place of birth as Dubai. She has a indian passport and citizenship though.

  51. Hi,

    Thanks for sharing such useful information on SSY. Did you received answer to your question above whether we can open an account mentioning “Baby of” or should wait for the actual certificate in the name of child?

    Regards,

    1. Hi Amit,

      Sorry Amit, I don’t have correct answer for the same. Why don’t you visit the nearest Post office or SBI bank to know about this query.
      As per my knowledge, you should be able to open the account and later change the name.
      I hope you will update the same, when you come to know about the same. 🙂

      1. Birth cerificate including name of female child is mandatory…as name of child whose account is to be opened is more important

  52. Hi Santannuji,

    Can grandparents opn SSY account in their granddaughters name and avail tax benefit. What are the reqd documents foe the same?

  53. I have opened the SSA account for my daughter .Can I replace my name with my Wife name.If yes what is the procedure

  54. Hi Santanu,

    If I open the account and later we move abroad, is my daughter eligible to get the amount after maturity.

  55. Hi Santanu,

    My daughter is 10 yrs old. I can deposit till 24th year of my child.. So, if she gets married at the age of 23 or 22 when is she eligible to get the whole amount.

  56. my daughter is USA citizen, but now she staying and studying in india, so I can open sukanya sumridhi account on her name.

    1. Even i want the answer for this question. My daughter is US citizen now studying in india. We have come back to india and settled here a year ago. Can i open an account in the name of my daughter. We are not NRI. But the birth certificate of our daughter says “US CITIZEN”.

  57. I have an account in SSA in post office. But recently i have a change in my daughter’s name with new birth certificate. So please tell me the process to change name in my existing account.

    1. Hi Ankit,

      I think you should visit the bank or post office where you have opened the account and submit the name change request there by showing the latest birth certificate.

      1. I try this but these lazy people are saying that this is not possible. But i know they can change it so if u know show me the procedure.

        1. I need to get my daughter’s name updated in the account. Post office officials don’t seem to think it is possible. They are asking me to get them a form if there is anything for this purpose!

          1. I think this is highly possible. But if post office don’t know anything, you can transfer your SSA account from Post office to any Bank like SBI and there change the name with valid proof.

  58. Hi
    I have question on SSA , I have opened account last month in post office. At that time banks were not offered SSA. So now they are offering. So I want my account created in post office transfered to any other banks. what is the procedure .. Is it possible,
    why because I want to use online facility to pay and check.

    2) Also I want to start a SIP in mutual funds But confused to lots of schemes in different companies. could you suggest best one to choose.

  59. 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.

    1. Hi Sameer,

      You are right and I believe this will be inn the cards of Govt in next few years. But, it will take time to spread the scheme to farthest corner of India and spread the benefit to most of the people.
      Thanks for sharing your thoughts. 🙂

  60. hi sir i want to ask u my daughter date of birth 30june 2005 i want to do for my girl some good scheme right know she is 9 years 11month can u suggest me which plan i have to do for education and marriage she born in india but right now we r in dubai

    1. HiMeena,

      If you are really serious about making a corpus for your kid’s future, then start investing in mutual funds via SIP way. In fact SSA scheme is also good.

  61. i have presently started sukanya samriddhi account in monthly vise . My equation is it to be convert into yearly vise.

  62. Hi, Shantanu ,

    I already opened SSY account for my baby in post office.

    Is it possible to check my SSY account details in online?

    Thank you,
    venki.

  63. Hi,

    I am currently working in Saudi Arabia from 2008 onwards. I have 2 daughters both of them born in the Kingdom also they have birth certificate from Ministery as well as from the Hospital in KSA. But I have received Indian Citizenship & Indian Passport for my both daughters from Indian Embassy ,Riyadh, KSA. Could you kindly guide me whether i can go for Sukanya Samriddhi Account scheme for my daughters.

    Highly appreciated your effort in advance.

    1. Hi Sooraj,

      Are you in India right now? Why don’t you invest in this scheme? Did you exhaust your income tax limit?
      I think there is no clear clause for NRI’s in Sukanaya Samriddhi Scheme Gazette. Better you can visit nearest post-office and try to apply.

  64. I want to open an SSA account, upon maturity after completion of 21 years, who will be entitled to get money, child or father?

    1. Hi Khalid,

      Please find out the statement taken from SSA Gazette “On maturity the balance amount including interest accrued is payable to the account holder, the girl child.”
      Hope this is useful.

    2. Hi,
      my daughter born in UK , do we have a clear idea whether can we open an account on her name , though born in uk but still got indian passport.

  65. Sir, my granddaughter is born in u s. Son is working on h1 b visa. Can I open an account and get tax benefit in India as grand father

    1. Hi Dr. goel,

      If you are the legal guardian of that kid, then you can open on behalf of her. But I don’t think in this case this is possible right now, as there is no such rule under this scheme.

    1. Hi Sasmita,

      I think they should be allowed to open this account as birth certificate is from India only. But remember that this scheme is for those people who is happy with a moderate long term low risk return. As the investment horizon is more than 15 years, you can try Mutual fund way to beat Sukanya Samriddhi Account. Kindly think about your investment strategies as per risk profile and then only opt for this scheme. 🙂

  66. i have opened the SSA for my daughter who is 10 Years old. I got the information that we can deposit the amount only till the girl attains 14years( I.e from 14 Years to 21years) no deposit allowed. Only interest will be given.
    but you have mentioned we can deposit amount for 14 Years from the date of opening the account. Please clarify whether 14 Years is the age or period of time
    so when my daughter become 31 Years only the account will get matured or she can get the amount when she gets married
    please suggest

    1. Hi Geetha,

      You can deposit till 24 th year of your kid, as per Govt. notification the deposit period is 14 years from opening date of account. And regarding maturity it will be either 31 years or marriage date whichever is earlier.

  67. As in the PPF account, can I deposit money in the month of March every year and still continue to get the interest rate for the entire year?

    1. No, you can’t get interest for the entire year. If you deposit 100,000 in March 1st, you will get the interest for 30 days only for that year.

  68. Hi, I am an NRI. But my family is in India. Can i take SSY account for my daughters under their mothers name?

      1. Thanks Santanu. But still doubt remains. So my wife can open Sukanya Samriddhi Yojana Account for our daughters? Or she has to give any affidavit or something saying that, the father or mother is not NRI. Tnx in advance…

          1. Hi Munidapa,

            Appreciate your response. Since NRI cannot open the account, can the child’s grandfather who is living in India open it? Please respond. Thanks.

  69. Hi Sir,

    I have opened SSA for my for my 3 years daughter on 20th Feb’15. Can you please guide me till which FY I can be able to make contribution in this Account as per he clause of 14 years.

  70. Hello,
    I have the following queries to open the scheme for my 2yrs old daughter :

    1. Is the interest earned is taxable or not?
    2. I understand that this scheme is applicable for daughter before the age of 10yrs but is there any last dates to apply for this scheme.
    3. Can the invested amount be (14yrs) changed during the term of investment?
    4. I am working in Gulf settled with family here holding a NRI status. Am I eligible to apply for this scheme?

    Kindly advise.
    Many Thanks
    Varun Sundaram

    1. Hi varun,

      Kindly find our answers related to Sukanya Samriddhi Scheme
      1) No, SSY scheme is 100% tax =free, after budget 2015 it has been declared as EEE scheme
      2) No. But for this year till Dec 2015, eligibility criteria is little special. As kid up to age 11 year is also allowed.
      3) Yes, it can be changed to any amount in a yer from Rs 1000 – 1.5 lakh
      4) Right now NRI’s can’t open Sukanya account

      Let me know if you have any further query. 🙂

      1. Hi Santanu,
        I am working in Dubai and my daughter was also born here 1.5 years ago. I have some friends here who are also NRI. But they have been able to open that account. My daughter has place of birth as Dubai. And thats the reason given from the post office for rejection.
        Isnt this really unfair?NRIs having their daughters place of birth as India are also very well now outside India, and all of us in UAE are never eligible for citizenship here. We might return home any time.
        If there needs to be update on the NRI policy, it would be great if you can tell me how this can be got to the notice of the authorities.I have already sent a complaint to PM on his portal, but unfortunately there is no response.

        Thanks,
        Rasmi

        1. Hi Rashmi, I think this scheme has to through many changes to meet everyone’s expectation. And also post office and bank people also need to educate first as they are also struggling to find answers to every scenario and how to deal with the same.

  71. Sir, Kindly suggest me that if I want to close the account, what will happen. My deposited money will refunded or not.

  72. DEAR SIR

    I WANT TO KNOW THAT I DEPOSIT TO YOUR LIMIT AMOUNT IN A YEAR BUT I WANT FIRST YEAR TO DEPOSIT 12000 AND NEXT YEAR 15000,THEN 12000 WITHIN YOUR LIMIT AMOUNT, I WANT DEPOSIT YEAR WISE DIFFERENT AMOUNT WITH YOUR LIMIT.
    MY QUESTION IS IT IS POSSIBLE OR NOT.
    AND NEXT QUESTION IS AFTER DEPOSIT TWO OR THREE YEARS I CAN NOT DEPOSIT OR NOT POSSIBLE ME TO CONTINUE THIS ACCOUNT. THEN I CAN WITHDRAWAL OR RETURN THE AMOUNT.

  73. Hi,

    My daughter was born in USA. Now we are living in India since 2013. I am Indian citizen
    and have government job in Chandigarh.

    Can I open account for my daughter?

    Thanks.

    1. Hi Lokesh,

      I think there should not be a any problem as parent has residential status as Indian. But not sure about a girl child with foreign birth certificate. Why don’t you simply visit your nearest post office and get the question clarified?

      Kindly share your findings here, if you get so. I will also try to get this question answered soon and update here. 🙂

    2. Dear Lokesh

      I am interested to know what you found out about opening SSA account for your daughter?
      My daughter was also born in the USA, and hence an american citizen. We moved back to India when she was a few months old and have since been living in Delhi. Not being aware of rules of SSA, I opened an SSA account in the post office with her american birth certificate. The post office presented no objections.
      I am finding out now that she is not eligible to hold such an account and probably the Post office made an error!
      Now I am not sure what I should do?!!

      Santanu, Lokesh, do you have answers?

      Will appreciate any help!
      Thanks
      Alpana

  74. In case of death of depositor the account should be closed ?
    So, no benifit for child In this case. I am thinking insurance is best option to compare with SSA . What do u say

      1. Hello Sir,

        Thank you for providing the details on SSA. I need little more clarification of the depositor sudden death.

        The account will be closed I understand till this point. What about the interest earned till the point will that be given to Child?

        One more clarification what in case if the parent cannot continue to deposit and would like to go for closure of SSA account. Is it possible?

        Please help me with these.

        1. Hi Sirisha,

          In case of unfortunate death, the account will be closed immediately. And the amount accumulated with interest till previous month of death will be returned back to girl child.

          Regarding pre-closure of Sukanaya Samriddhi Account, there is a clause under which one can close this SSA account if he/she is not able to deposit money further by providing valid reason in written format. Then the application will be taken into consideration and they will scrutiny the reason and then allow to pre-close.

  75. Hi, Shantanu !
    I have two doughters , so can I open two accounts under Sukanya Samriddhi scheme for both ?????

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