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  • Investment made eligible for tax rebate under 80C.
  • Attractive Rate of Interest.
  • Tax Free Interest accrued on deposits.
  • Premature withdrawal facility available.
  • Minimum deposit is Rs 250/- & Maximum deposit is Rs 1,50,000/- in a Financial Year.
  • The SSY matures on completion of a period of 21 years from the date of the opening of account.
  • The deposits may be made in the account till the completion of a period of 15 years from the date of opening of account.
  • Nomination is allowed for one or more individuals, but not exceeding four individuals, at the time of opening of account or at any time before the maturity of account.
  • The closure of the account may also be permitted before completion of 21 years as per scheme guidelines.
  • Account can be opened both online mode (through net banking/mobile banking (ai1)) and offline mode (in bank branches).
  • Transfer of Account facility available as per scheme guidelines.
  • Premature Closure available as per scheme guidelines.
  • The account may be opened by one of the guardian (who is a Resident Citizen of India) in the name of a girl child, who has not attained the age of 10 years as on date of opening of the account.
  • Every account holder shall have a single account under this Scheme.
  • An account under this Scheme may be opened for a maximum of two girl children in one family(exception allowed for twins and triplets).
  • The deposits made in the account on or after the 1st day of January, 2024 and the balances at the credit of the account shall earn interest at the rate of 8.2 % per annum till further revision.
  • The rate of Interest on Sukanya Samriddhi Account Scheme is notified by Department of Economic Affairs (Budget Division), Ministry of Finance, Government of India on quarterly basis.
  • SSY Account Opening form.
  • The birth certificate of the girl child.
  • ID proof of the depositor.
  • Address proof of the depositor.
  • Photograph of depositor/Guardian.
  • Identity documents of the guardian.
  • Any other document required.
  • An account under this Scheme may be opened for a maximum of two girl children in one family(exception allowed for twins and triplets).
  • If the minimum amount of Rs. 250 is not deposited in any financial year , a penalty of Rs 50/- will be charged.
  • Withdrawal/Premature closure is allowed in the below cases :
    • Withdrawal of up to a maximum of 50 % (fifty percent) of the amount in the account at the end of the Financial Year preceding the year of application for withdrawal shall be allowed for the purpose of education of the account holder. Such withdrawal shall be allowed after the account holder attains the age of eighteen or has passed 10th standard, whichever is earlier.
    • The closure of account may also be permitted before completion of twenty-one years if the account holder makes a request for such closure for the reason of intended marriage of the account holder on furnishing of a declaration duly signed on non-judicial stamp paper attested by the notary along with the proof of age confirming that the applicant is not be less than eighteen years of age on the date of marriage.
  • You can apply through following modes :

  • Online Mode :
    • Internet Banking
    • Mobile Banking App
  • Offline Mode :
    • Visit nearest branch of Canara Bank
    • To redirect on the login page, please Click here
  • © 2024, Canara Bank, All rights reserved

    Last updated on 29-09-2023 12:07 PM

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