Axis Bank Sukanya Samriddhi Account Form - Description
Dear readers, here we are offering Axis Bank Sukanya Samriddhi Account Form PDF to all of you. The Government keeps taking out many schemes for the daughters. One of them is this Sukanya Samriddhi Yojana. In this scheme, parents have to deposit money from the birth of daughters. With his little money, he gets a huge amount for those daughters till marriage. After 21 years, the entire amount is returned, including the entire deposit and interest. That girl gets this amount. In whose name the account is opened. Through this scheme, this Sukanya Yojana is a boon for such parents whose economic condition is weak. Due to which the economic condition of those parents gets strengthened. And there is no problem in their education and marriage. Parents or legal guardians of girls below the age of 10 years can open this account in the name of their girl child. From Rs 250 to Rs 1.50 lakh can be deposited in it every year. Sukanya Samriddhi Account is a Small Savings Scheme of the Government of India. This scheme helps in helping the parents or guardians to accumulate a substantial savings for the girls for their education, health and marriage etc. At present, the government gives 8% interest on this account and also gives tax exemption on deposits and interest.
Axis Bank Sukanya Samriddhi Account Form PDF Key Important Points
How do I apply for Sukanya Samriddhi Yojana (SSY) account through Axis Bank?
The parent/ guardian needs to fill up the SSY account opening form on behalf of the minor girl child and submit all other required documents to Axis Bank branch. The documents include birth certificate of the girl child having her name on it, passport size photo of parent/ guardian, and the KYC (identity & address proof) documents of the parent/ guardian.
What is the eligibility for investing under SSY scheme?
The account can be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of 10 years. A depositor can open and operate only one account in the name of a girl child. Natural or legal guardian of a girl child can be allowed to open the account for two girl children only. The third account in the name of the girl child can be opened in the event of birth of twin girls, as second birth or if the first birth itself results into three girl children.
What is the minimum and maximum amount that can be invested in SSY account?
The minimum deposit amount is Rs 250 per financial year and the maximum amount is Rs 1,50,000 per financial year
What happens if the account holder fails to deposit any amount in one or more Financial Years?
A penalty of Rs 50/- will be levied per year of default, if the customer does not deposit the minimum deposit amount of Rs. 250 in a financial year. The account can be regularized post payment of penalty.
Can Loan facility be availed in SSY account?
No, loan facility cannot be availed.
Can partial withdrawal be availed in SSY account?
No withdrawals are permitted till the account holder (girl child) reaches the age of 18. After the account holder reaches the age of 18, partial withdrawal upto 50% of the account balance is allowed, to meet education expenses or marriage expenses.
When does a SSY account mature?
The tenure of the SSY account lasts until 21 years from the date of opening account; or till the account holder gets married, whichever is earlier
How can customer transfer funds to Sukanya Samriddhi Account?
Fund transfer to SSY account can be done via cash/ cheque/ demand drafts at any Axis Bank branch. The parent/ guardian can also add the SSY account as a beneficiary on Internet banking (Other Axis Bank accounts> Transfer section) and transfer from his/her own account.
How can the customer view the balance of Sukanya Samriddhi Account?
The balance can be viewed by updating the Sukanya Samriddhi account passbook at any Axis Bank branch. This is issued free of charge.
Can SSY account be closed before maturity?
The SSY account can be prematurely closed in following circumstances:
- In the event of death of account holder;
- If the Central Government is satisfied that continuation of the account is causing undue hardship to the account holder (such as medical emergencies or death of guardian), it may allow pre-mature closure of the account;
- If the account holder attains NRI/ PIO status any time prior to the maturity of the account
What documents are required for opening SSY account with Axis Bank?
The following documents are required:
| 1. | SSY Account Opening form |
| 2. | Birth Certificate of the girl child, having the child’s name on it |
| 3. | Photograph of the parent/ legal guardian of the girl child |
| 4. | KYC Documents (Identity & Address Proof) of the parent/ guardian. |
| 5. | For the list of KYC documents Click here. |
You can download Axis Bank Sukanya Samriddhi Account Form PDF by clicking on the following download button.