Frequently Asked Questions on Sukanya Samriddhi Yojana (SSY)
1. What is the Age Relaxation Granted to Girl Children with the Sukanya Samriddhi Scheme?
Answer: Because the Sukanya Samriddhi plan is new, the administration does not want a few people to miss out on it because of age restrictions. As a result, any girl child who has turned 10 years old exactly one year before the scheme’s inception is likewise entitled to participate. As a result, every girl child born between December 2, 2003, and December 1, 2004, is eligible for the Sukanya Samriddhi Scheme.
2. Who Is Eligible to Open a Sukanya Samriddhi Account?
Answer: The legal guardian or parents of a girl child may open a Sukanya Samriddhi Account on her behalf.
3. What Happens if the Beneficiary Girl Child passes away Unexpectedly?
Answer: In the event of a girl child’s death, the Sukanya Samriddhi Account is ended and closed, and the proceeds are handed to the girl child’s guardian or father.
4. What would happen if the Depositor (The Girl Child’s Parent or Guardian) Died?
Answer: If a girl child’s formal guardian or parent dies, the plan is either shut down and the money given to the girl child’s family or the girl child herself. Or, the scheme is kept going with the amount that was deposited until the maturity date. The amount that was deposited continues to make interest until the girl child turns 21 years old.
5. Is it possible to convert my regular bank deposit account to a Sukanya Samriddhi account?
Answer: No, the option of converting a deposit account to a Sukanya Samriddhi Account is currently unavailable. Sukanya Samriddhi is a particular plan targeted at improving the financial situation of females in the country, and as such, account conversion is not permitted.