What is the Sukanya Samriddhi Account?

The Sukanya Samriddhi Account is a savings scheme launched by the Government of India aimed at promoting the education and marriage of a girl child.

Can I check the balance of my Sukanya Samriddhi Account using a toll-free number?

Yes, many banks and the India Post offer toll-free numbers for customer service.

Is there an online portal for checking the balance?

Yes, if your Sukanya Samriddhi Account is with India Post, you can check your balance through the India Post or bank's website or mobile app.

What documents do I need to check my account balance?

Generally, you need your account number and possibly additional authentication like a mobile number.

How often can I check my Sukanya Samriddhi Account balance?

You can check your account balance as often as you like.

What is the Sukanya Samriddhi Account?

The Sukanya Samriddhi Account is a savings scheme launched by the Government of India aimed at promoting the education and marriage of a girl child.

Can I check the balance of my Sukanya Samriddhi Account using a toll-free number?

Yes, many banks and the India Post offer toll-free numbers for customer service.

Can I check the balance of my Sukanya Samriddhi Account using a toll-free number?

Yes, many banks and the India Post offer toll-free numbers for customer service.

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Complete Guide On How To Know Your Sukanya Samriddhi Account Balance?

Neha Gupta

Author

Updated: 28-01-2025 at 7:09 AM

Complete Guide On How To Know Your Sukanya Samriddhi Account Balance?

The SSY is a government savings scheme introduced by the Indian government to ensure the financial future of your daughter. The govt scheme offers attractive interest rates and tax exemptions. It is important, however, that you keep a watch on the account balance from time to time to stay on track. This blog will provide you guidance on how to check Sukanya Samriddhi's account balance online or offline so that you do not miss out on any information.

Name of the scheme	Sukanya Samriddhi Scheme
Objective	To encourage savings for the girl child’s education or marriage
Eligibility Criterion	Parents or legal guardians of a girl child under the age of 10
Total number of accounts	One account per girl child; maximum two accounts per family
Account opened through	Post offices or banks
Minimum deposit	Rs. 250 per year
Maximum deposit	Rs. 1,50,000 per year
Duration of the deposits	15 years
Rate of interest	8%

How To Check Sukanya Samriddhi Account Balance?

Offline Method

The usual way to check for Sukanya Samriddhi account balance is by personally visiting the bank or post office where one opened such an account. Do it in the following way:

Go Directly To The Bank Or Post Office: Visit the branch where your SSY account was opened.
Get Your Passbook Updated: Ask for an updated passbook from the branch. With this, you shall have every transaction recorded as well as your current account balance.
Ask Them Directly: You may also seek details of your account balance from bank or post office staff.

This method is straightforward and ideal for those who prefer handling their financial matters in person.

Online Method

With digital banking today, checking Sukanya Samriddhi's account balance has been made easier online. This is how it should be done:

Collect Login Credentials: First, apply and get login credentials at the bank where you hold your SSY Account. Reconfirm with your bank because not all banks offer these services.
Log Into Internet Banking: Use these details to access Internet banking services through the bank’s portal.
Check Balance Figure: In case you are already logged into (bank name) internet banking facility, go straight to the “account dashboard” or home page there, and look out for the available amount in your account.
See Account Statement: For more specific details concerning transactions done over time, download or view the account statement.

This online method is convenient and allows you to check your balance anytime, anywhere.

Features

You must understand key aspects of your Sukanya Samriddhi account for better performance as a government saving scheme:

Minimum and Maximum Deposit: The minimum deposit to open an account is Rs.250 whereas it can accommodate a maximum deposit of Rs.150000 in one financial year.
Lock-in Period: The account has 8-year lock-in period excluding the age when it was opened which is 10 years making it a total duration of 21 years.
Premature Withdrawal: Partial withdrawals are permitted once the girl child attains 18 years, especially for her higher education or marriage purposes.
Interest Rate: Presently, the interest rate stands at 7.6% compounded annually subject to change due to government notifications.
Tax Benefits: This government scheme provides tax benefits under Section 80C of the Income Tax Act and also maturity amount is not taxable.

How to Transfer Your Sukanya Samriddhi Account?

Want to move from a post office to a bank? Then here’s what you need to do if you want to transfer your SSY account:

Visit the Post Office or Bank: Visit the branch where your SSY account is currently held with your passbook and KYC documents.
Request for Transfer: Tell the employees to ensure they transfer your account. Complete relevant forms provided by them.
Submit Required Documents: Along with the filled transfer form, you must submit the required KYC documents.
Receive New Passbook: You will receive a new passbook from the bank where you have transferred your account after the completion of this process of transfer.
Account Activation: The new bank will activate your account so that contributions can continue being made.

Tax Benefits of Sukanya Samriddhi Yojana

One of its major advantages is tax benefits under Sukanya Samriddhi Yojana:

Exempt-Exempt-Exempt (EEE) Status: It enjoys triple E tax exemption meaning that deposits, interest earned, and maturity amount are all tax-free.
Section 80C Deductions: Deposits made towards the SSY account are eligible for tax deductions under Section 80C of the Income Tax Act up to Rs.1.5 lakh per annum.

Checking Your Sukanya Samriddhi Account Balance Regularly

It is important to check your Sukanya Samriddhi account balance regularly to ensure that your savings plan is on track and improve your financial management as well as prepare for the future needs of a child. Whether it’s through offline mode in which one visits their bank or via online method using net banking, staying updated about one’s account status is vital in this case.

Conclusion

Sukanya Samriddhi Yojana serves as a potent instrument for her financial security too. If you know how to check your balance whether online or offline, then you can take full advantage of these savings schemes. Keeping an eye on your Sukanya Samriddhi account balance regularly will keep you informed and enable you to make necessary adjustments to meet your financial goals.

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