List of 28 Banks for Sukanya Samriddhi Account
Sukanya Samriddhi Yojana which is a long term savings plan for securing the future of girl child was launched by India’s honourable prime minister Shri. Narendra Modi on 22nd January 2015.
On the union budget presented on 28th February 2015 by Shri Arun Jaitely, Sukanya Samriddhi Scheme was declared as a tax free under Section 80C of income tax act. So everyone should take benefit of this scheme and secure their girl’s future. Moreover RBI has notified all the banks to update daily status of SSA transactions directly through the government account at it’s central account section. Failure in doing so will result in penal action i.e. such bank/branch can be de-authorized. Check out the benefits and features offered under this yojana.
On 11th March 2015, RBI declared the list of banks where interested parents or guardians can open account for the girl child. You can read in detail about the account opening form for SSA at India post office.
Here is the list of 28 banks (public and private) where parents can contact to open Sukanya Samriddhi Bank Account which is a small savings scheme:
- Allahabad Bank
- Andhra Bank
- Axis Bank Limited
- BoB – Bank of Baroda
- BoI – Bank of India
- Bank of Maharashtra
- Canara Bank
- CBI – Central Bank of India
- Corporation Bank
- Dena Bank Limited
- ICICI Bank Limited
- IDBI Bank Limited
- Indian Bank
- IOB – Indian Overseas Bank
- OBC – Oriental Bank of Commerce
- P&SB – Punjab & Sind Bank
- PNB – Punjab National Bank
- SBBJ – State Bank of Bikaner and Jaipur
- SBI – State Bank of India
- SBH – State Bank of Hyderabad
- SBM – State Bank of Mysore
- SBP – State Bank of Patiala
- SBT – State Bank of Travancore
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
Apart from the above approved banks, Indian post offices has already started to open Sukanya Samriddhi Account. Check out interest rate calculation for this scheme where investing Rs.1,40,000 will earn you Rs.5,26,051 on maturity. Also read similarities and difference between Sukanya Samriddhi Account and Public Provident Fund.
There are just 3 documents required for opening account as follows:
- Birth certificate of the girl child
- Address proof and
- Identity proof of guardian or parents
This article has been written by Chandra Mehta.
Chandra is a seasoned banker with 35+ years of experience in banking and financial services industry. He’s a retired banker and has served as Chief Manager and Assistant Vice President in State Bank of India/or its subsidiaries.
He has authored many articles on this site (allonmoney.com).