In today’s time, when everything is going online, savings schemes are also changing. Most post office schemes still need you to visit the branch to invest. But now there is one scheme where you can invest online from home.

This scheme is Sukanya Samriddhi Yojana – an important small savings scheme run by the Government of India. Now, you can open an account and invest in this scheme through digital platforms, especially the PNB One App.

What is Sukanya Samriddhi Yojana (SSY)?

Sukanya Samriddhi Yojana is a government savings scheme made for the future needs of girls, like higher education and marriage. Parents or guardians can open an account in the name of their daughter who is below 10 years of age.

The scheme gives an interest rate of 8.2% per year, which is higher than normal bank savings accounts and many other schemes. It also gives tax exemption under Section 80C of the Income Tax Act. The maturity amount is fully tax-free, which makes this scheme very attractive.

SSY now available online

Earlier, you had to visit a post office or bank branch to open an SSY account. But now, Punjab National Bank (PNB) has made this scheme available online. Through the PNB One App, you can open an SSY account from home.

This facility is only for opening an account. To close the account, withdraw money, or close it early, you still need to go to the bank or post office.

Steps to open SSY account with PNB One App

  1. Open the PNB One App and login.
  2. Go to the main menu and select ‘Services’.
  3. Click on ‘Govt. Initiative’.
  4. Select ‘Sukanya Samriddhi Account Opening’.
  5. Fill the details as asked on the screen.
  6. Upload the required documents and complete the process.
  7. Once the account is opened, you can also invest through the same app.

Who can open an SSY account?

  • The girl must be below 10 years of age.
  • Parents or legal guardians can open the account.
  • A family can open accounts for up to two girl children.
  • A third account is allowed only in special cases like the birth of twin daughters.

Investment limit and benefits

  • Minimum deposit: ₹250 per year
  • Maximum deposit: ₹1.5 lakh per year
  • Duration: The account stays active for 21 years from opening, or till the daughter’s marriage after she turns 18.
  • Returns: Tax-free with government-decided interest rates.