Which Bank Is Best For Sukanya Samriddhi Yojana?

Hey Pal,

Before beginning my discussion about the Sukanya Samriddhi Yojana bank list, let me brief you on what is this Yojana. The Sukanya Samriddhi Yojana seeks to assist parents in setting aside money for their young daughters' futures. These savings may come in handy when you finish school, get married, etc. 2015 saw the launch of the Sukanya Samriddhi Yojana as part of the Beti Bachao, Beti Padhao campaign.

The father or legal guardian of a girl child can easily open the Sukanya Samriddhi Yojana account. This savings plan is intended for young girls up to the age of ten. Within the Sukanya Samriddhi Yojana, the annual maximum deposit is Rs. 1.5 lakh. The EEE tax provision included in Section 80C is also included with the SSY. Only once the girl turns 18 is it permitted to prematurely withdraw the money.

After 21 years, the Sukanya Samriddhi Yojana account will reach maturity. The interest rate on the Sukanya Samriddhi Yojana account is 7.6%. The maturity sum at the conclusion of the term can also be calculated using the Sukanya Samriddhi Yojana calculator.

• Sukanya Samriddhi Yojana at Allahabad Bank: 

In accordance with the rules established by the Indian government, anyone may open a Sukanya Samriddhi Yojana account at Allahabad Bank in the name of a girl child under the age of ten. The minimal investment into the Allahabad Sukanya Samriddhi Yojana account is Rs. 250.

• Andhra Bank Sukanya Samriddhi Yojana: 

Opening an account with Andhra Bank Sukanya Samriddhi Yojana is a quick and simple process. The Union Bank Sukanya Samriddhi Yojana account and the Andhra Bank Sukanya Samriddhi Yojana account have been combined as of April 2020. The money put into the SSY account is locked in until the girl turns 21 and will increase at predetermined rates.

• Sukanya Samriddhi Yojana by Axis Bank:

Every girl child would benefit from the Sukanya Samriddhi Yojana account from Axis Bank. This savings plan encourages parents to set money aside for their children and to take care of their financial needs when they arise. The parent or even the child's guardian can open an Axis Bank Sukanya Samriddhi Yojana account.

• The Sukanya Samriddhi Yojana from Bank of Baroda

The Bank of Baroda Sukanya Samriddhi Yojana account enables parents of girls to set aside money to support their daughter's future goals and aspirations. A few simple steps make up the procedure to open a Bank of Baroda Sukanya Samriddhi Yojana account.

• Sukanya Samriddhi Yojana of the Bank of India

Future financial security for girls is ensured through the Bank of India Sukanya Samriddhi Yojana. One can deposit up to Rs 1.5 lakh annually into a Sukanya Samriddhi Yojana account with the Bank of India. Its maturity age is correlated with the age of the girl child, nevertheless.

• Sukanya Samriddhi Yojana of the Bank of Maharashtra

Parents who register a Bank of Maharashtra Sukanya Samriddhi Yojana account should not be concerned about the costs associated with the girl child's future. The girl child receives an assured payment, and the Bank of Maharashtra Sukanya Samriddhi Yojana takes care of the essential expenses.

• Sukanya Samriddhi Yojana by Canara Bank

Every girl is empowered by the Canara Bank Sukanya Samriddhi Yojana and given the tools she needs to achieve her goals in the future. The sum under the Canara Bank Sukanya Samriddhi Yojana account may be deposited for a period of 15 years beginning on the date of the initial deposit.

• Sukanya Samriddhi Yojana of the Central Bank of India

The Sukanya Samriddhi Yojana from the Central Bank of India provides affordability in addition to flexibility. When compared to other market-available programmes, the Central Bank of India Sukanya Samriddhi Yojana offers a number of additional advantages.

• Corporation Bank Sukanya Samriddhi Program

The Union Bank Sukanya Samriddhi Yojana account and the Corporation Bank Sukanya Samriddhi Yojana account have merged as of April 1, 2020. The position of girls has improved because of the Corporation Bank Sukanya Samriddhi Yojana programme in both rural and urban areas of the country.

• Sukanya Samriddhi Yojana by Dena Bank

The Dena Bank Sukanya Samriddhi Yojana guarantees that the investment will realise its full potential and that the child's future will be financially secure. The Dena Bank Sukanya Samriddhi Yojana account encourages financial responsibility, particularly for young girls.

I hope this clarifies your query about which bank is best for Sukanya Samriddhi Yojana. 

Apart from these 10 banks, you can also opt for the Yojana in banks like IDBI, ICICI, Indian bank, Indian Overseas bank, Oriental bank of commerce, Punjab and Sind bank, Punjab National bank, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of India, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, Syndicate Bank, UCO Bank, United Bank of India, Union Bank of India, Vijaya Bank.

The Sukanya Samriddhi Account can be opened quickly with any of the banks mentioned above. Anyone can open savings account both online and offline if they do not already have one with one of these approved institutions.

I would like to conclude my discussion here about the Sukanya Samriddhi Yojana bank list. I hope this helps:)

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