Sukanya Samriddhi Yojana (SSY) is a scheme of the Government of India, which was launched to financially secure the future of daughters. Under this scheme, parents or guardians can open an account for their daughter before the age of 10 years.
This account can be opened in a post office or an authorized bank. Many times people want to transfer their Sukanya Samriddhi account from the post office to the bank so that they can get the facility of online banking or management is easy.
Why is it necessary to transfer the account
Sukanya Samriddhi account is easy to open in the post office, especially in rural areas where the reach of the post office is high. However, over time many people want to transfer the account to the bank. A major reason for this is the digital facilities offered by banks. Having an account in the bank, you can easily make deposits and other transactions through online banking, mobile app, or ATM.
Apart from this, if you are transferring to a new city where the post office branch is not convenient for you, then transferring the account to a bank can be a better option. This scheme allows easy transfer of the account to any part of the country, be it a post office or a bank. This process does not take much time and is completely safe.
Know The Transfer process
To transfer Sukanya Samriddhi account from post office to bank, you have to take some important steps. First of all, you have to go to the post office where your account is open. There you have to fill out a form for a transfer. In this form, you have to give your daughter’s account number, your name, and the details of the bank where you want to transfer the account.
Along with this, you have to submit some important documents, such as a Sukanya Samriddhi account passbook, an Aadhaar card, a PAN card, and a passport-size photo. If your KYC is not already updated, then you may have to update it as well.
The post office will check these documents and start the transfer process. In this process, the post office may charge you a small fee, which is usually nominal. After the transfer request is approved, you will have to go to the bank where you want to transfer the account.
At the bank, you will again have to submit some documents, such as transfer documents, updated KYC, and your original signature. The bank will verify these documents and add your account to their system. This entire process can take from a few days to a few weeks, so keep this in mind before making the next deposit.
Keep these things in mind
It is important to keep a few things in mind while transferring the account. First of all, make sure that you have all the necessary documents ready so that the process is not delayed. After the transfer, you should get a new passbook or account statement from the bank, so that you can check the status of your account.
Also, after starting the transfer process, keep in regular touch with both the post office and the bank. Sometimes the process may be delayed due to minor mistakes, such as incorrect account numbers or incomplete documents. If you want to use online banking, ask the bank to activate this feature after the transfer. Also keep in mind that after the transfer, the process may be delayed.