Sukanya Samriddhi Yojana (SSY) is a popular investment option in the form of girl child savings scheme. Parents can invest in this for the future of their child. The government-backed scheme earns a rate of 7.6%. Its maturity period is 21 years and investment period is 15 years. The normal age limit for opening an SSY account is 10 years from the date of birth of the child. Also must be a resident of India to open an account. Once the child reaches the age of 18, she will become the account holder.
Know how to transfer Sukanya Samriddhi accounts through India Post Payment Bank (IPPB)
- Add money from your bank account to IPPB account.
- Go to DOP Products. Choose Sukanya Samriddhi Account.
- Type your SSY account number and then DOP Customer ID.
- Choose the installment period and amount.
- IPPB will notify you of successful payment transfer made through the IPPB mobile application.
DakPay Digital Payments App
Recently the government has launched the postpay digital payment app. It can also be used by post office and IPPB customers. DakPay provides digital financial and ancillary banking services provided by India Post and IPPB. Through this, services such as sending money, scanning QR codes and making digital payments for merchants are available.
How to check online SSY account balance
Apply to your respective bank and collect your SSY account login credentials. Only a few banks are allowing their account holders to check SSY account balance online)
- Log in to the bank's Internet banking portal using your login credentials.
- Go to the homepage after logging in, and you can check the balance. You can also see it on your account dashboard.
- Through this process you will only be able to see the balance in your account. You will not be able to transact through this portal.
- Sukanya Samriddhi is one of the highest paid interest rate schemes among fixed-income instruments. The rate of return of the scheme is 7.6% for the July-September 2020 quarter. An investment of Rs 2,500 every month in a year for 15 years will give you a maturity amount of Rs 12.7 lakh.