HomeInvestment28 Banks Authorized to Open Sukanya Samriddhi Account

28 Banks Authorized to Open Sukanya Samriddhi Account

sukanya samriddhi account

28 banks are now authorized to open Sukanya Samriddhi Account. This information was stated in RBI circular RBI/2014-15/494 dated 11th March, 2015. Let’s check which banks are authorized to open Sukanya Samriddhi Account.

List of Banks Authorized to open Sukanya Samriddhi Account

  1. State Bank of India
  2. State Bank of Patiala
  3. State Bank of Bikaner & Jaipur
  4. State Bank of Travancore
  5. State Bank of Hyderabad
  6. State Bank of Mysore
  7. Andhra Bank
  8. Allahabad Bank
  9. Bank of Baroda
  10. Bank of India
  11. Punjab & Sind Bank
  12. Bank of Maharashtra
  13. Canara Bank
  14. Central Bank of India
  15. Corporation Bank
  16. Dena Bank
  17. Indian Bank
  18. Indian Overseas Bank
  19. Punjab National Bank
  20. Syndicate Bank
  21. UCO Bank
  22. Oriental Bank of Commerce
  23. Union Bank of India
  24. United Bank of India
  25. Vijaya Bank
  26. Axis Bank Ltd
  27. ICICI Bank Ltd.
  28. IDBI Bank Ltd.

According to this circular banks are advice to follow rules and regulation of Sukanya Samriddhi Account mentioned in RBI circular dated 2nd Dec, 2014.

It is mandatory to report all transaction done for Sukanya Samriddhi Account by bank. i.e. receipt, payment, penalty, etc to RBI. This is to maintain uniformity in reporting, reconciliation and accounting.

For further information refer to RBI Circular.

Apart from this RBI also provided Specimen Application Form for opening Sukanya Samriddhi Account.

Download Sukanya Samriddhi Account opening Form

Sukanya Samriddhi Account Passbook Specimen

Main Feature of Sukanya Samriddhi Account

  1. This account can be open on girl child name age 10 years or less.
  2. Only single account can be opened for girl child.
  3. This account can be opened at any post office or at banks mentioned above.
  4. It is mandatory to submit birth certificate to open this account.
  5. Minimum deposit amount for this account is 1000 Rs/-
  6. Maximum deposit amount is 1.5 Lac per year.
  7. 1% interest is applicable on this account for FY 2015-16.
  8. 50% of Amount can be withdrawn from this account on 18th birthday of girl child for education or marriage expense.
  9. This account can be transferred from bank/post office to other bank/post office.
  10. Maturity date of this account is 21 years after opening the account.

Sukanya Samriddhi Features

Also Read:-

Sukanya Samriddhi Account – Review, Features & Benefits

Sukanya samriddhi Calculator Download

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.