SSY Scheme: Are you one of the beneficiaries of Sukanya Samriddhi Yojana (SSY) account at any post office or bank and like to transfer the same to another bank, you need to adhere to the following.
How to Transfer Sukanya Samriddhi Account from One Bank to Another
Today, it’s easy to transfer SSY from one bank to another. When you open an account under the above scheme, there are times when you have to transfer your SSY account from one branch to another.
As per ICICI Bank website, “Customer needs to submit SSY Transfer Request at existing bank/ Post Office mentioning 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 ICICI Bank branch address, along with a cheque/ DD for the outstanding balance in the SSY account.” it says.
Now, take a look at the following as per Axis bank website
First, you need to submit an SSY Transfer Request Form at your existing bank or post office while mentioning the address of your Axis bank branch.
Once you do that, your existing branch or post office has to arrange all your original documents like a certified copy of your account opening application, your specimen signature, a certified copy of your account statement or original passbook to Axis bank branch address along with some other documents like DD/cheque for outstanding balance in your SSY account.
You will receive a new account opening SSY form once all your transfer documents are received at Axis bank branch. Along with that you will also receive a set of KYC documents in the name of guardian/parent.
And so, you need to visit at your nearest branch of post office or bank to submit an SSY Transfer Request.
While doing this, you also need to mention the name of your new bank’s address, a/c owner’s name along with the bank’s name and address where a new account has to be transferred.
You will require all the original documents of SSY scheme account transfer in order to transfer your account to a new branch address.
What is Sukanya Samriddhi Sukanya Yojana?
If you wish to reap all the benefits of What is Sukanya Samriddhi Yojana, you need to first create a SSY account under the legal name of the girl child. You can open the SSY account only before your daughter attains the age of 10 years.
Please note that you are eligible to open only one account under the name of the girl child. A maximum of 2 accounts cam be opened for two girl child in a family.
At present, SSY offers the highest tax fee return with a guarantee. The return comes up with exempt-exempt-exempt (EEE) status.
Please also know that the annual deposit annual deposit (contributions) qualifies for Section 80C benefit. Also, the maturity benefits are non-taxable.
Documents required to open Sukanya Samriddhi Yojana Account
- KYC documents, i.e., proof of identity and proof of address
- Birth certificate of girl child
- PAN card of guardian
- Aadhar number of guardian
- A photograph of the applicant
We advise you to keep handy all the above list of documents so that the entire procedure of transferring your SSY account can become easier.
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