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Sukanya Samridhi Yojna

How do I deposit money into my Sukanya Samriddhi account?

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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.

 

  1. Fund Transfer from linked guardian savings account :

Fund Transfer – My Accounts> SSY Accounts > Initiate Self Funds Transfer >Transfer Funds - Customers holding SSY account can transfer funds from linked savings account to SSY accounts instantly.

  1. You may add SSY account to your User ID by logging into your Internet Banking Account > Select Payments & Transfer > Funds Transfer > Click on Add Payee under Any other ICICI Bank account and do fund transfer to SSY account.
  2. Funds can also be transfered from other bank account through NEFT.

 

How do I apply for Sukanya Samriddhi Yojana (SSY) account through ICICI Bank?

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To apply for Sukanya Samriddhi Yojana (SSY) scheme, the guardian is required to fill the Account opening form on behalf of the minor girl child and submit it at any ICICI Bank branch with the KYC documents.

You may click here to know more details of Sukanya Samriddhi Yojana (SSY):

 
 
 

 

What is the Interest earned in Sukanya Samridhi Yojna (SSY) account?

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The current interest rate is 8.5%, which is compounded annually. The interest rate is as governed by Ministry of Finance from time to time.

Can Sukanya Samridhi Yojna (SSY) account be transferred to ICICI Bank? What is the process for transferring Sukanya Samridhi Yojna (SSY) account?

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Customers can transfer their existing SSY account held with other bank/ Post Office to ICICI Bank

  • SSY transfer process
    Customer needs to submit SSY Transfer Request at existing bank/ Post Office mentioning the address of ICICI Bank branch
  • The existing bank/Post Office shall arrange to send the original documents such as a certified copy of the account, the Account Opening Application, specimen signature, etc. to the ICICI Bank branch address, along with a cheque/ DD for the outstanding balance in the SSY account.

Process at ICICI Bank Branch

Once the transfer documents are received at ICICI Bank branch, the customer is required to submit new SSY Account Opening Form along with fresh set of KYC documents.

To locate the nearest ICICI Bank Branch, visit maps.icicibank.com/mobile .

What happens if the account holder fails to deposit any amount in one or more Financial Years in Sukanya Samridhi Yojna (SSY) account?

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Penalty of Rs. 50 will be levied per year of default, if the customer does not deposit the minimum deposit amount of Rs. 1,000 in a financial year.

Can Sukanya Samridhi Yojna (SSY) account be closed before maturity?

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No, premature closure is not allowed in SSY account

What are the documents required for opening Sukanya Samridhi Yojna (SSY) account with ICICI Bank?

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For customers having relationship with ICICI Bank which is greater than 2 years, the following documents are required:

  • Sukanya Samriddhi Yojana Scheme Account Opening Form
  • Passport size photograph
  • Copy of ID proof
  • Birth Certificate copy of girl child
  • Residence proof – as per RBI KYC policy

For customers having relationship with ICICI Bank which is less than 2 years, the following documents are required:

  • Sukanya Samriddhi Yojana Scheme Account Opening Form
  • Passport size photograph
  • Copy of ID proof
  • Birth Certificate copy of girl child

What is the eligibility for investing under Sukanya Samridhi Yojna (SSY) scheme?

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  • The account can be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of 10 years
  • A depositor can open and operate only one account in the name of a girl child under the scheme rules
  • Natural or legal guardian of a girl child can be allowed to open the account for two girl children only. The third account in the name of the girl child can be opened  in the event of birth of twin girls as second birth or if the first birth itself results into three girl children

Can more than one Sukanya Samridhi Yojna (SSY) account be opened for the same girl child?

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No, only one SSY account can be opened in the name of the girl child either by natural or legal guardian.

Can Loan facility be availed in Sukanya Samridhi Yojna (SSY) account?

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No, loan facility cannot be availed In SSY account.

What is the minimum and maximum amount that can be invested in Sukanya Samridhi Yojna (SSY) account?

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The minimum deposit amount is Rs. 1,000 per annum and the maximum amount is Rs. 1,50,000 per annum.

When does a Sukanya Samridhi Yojna (SSY) account mature?

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The SSY account matures after completion of 21 years from the date of account opening

Can partial withdrawal be availed in Sukanya Samridhi Yojna (SSY) account?

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Yes, partial withdrawal facility can be availed in SSY only when the account holder (i.e. the girl child) attains the age of 18 years.