Andhra Bank
Skip to navigation | Skip to main content

Toll Free Number : 1800 425 1515

Sukanya Samriddhi Account (SSA):

Government of India has introduced a new scheme by name ‘Sukanya Samriddhi Account scheme’ for promoting the welfare of girl child. This scheme is implemented in our bank in Small Savings scheme designated 418 branches.

  1. 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.
  2. A depositor can open and operate only one account in the name of a girl child under the scheme rules.
  3. 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.

  1. Attractive interest rate of 7.6% with effective from 01-04-2020 till 30-06-2020. Interest rate is regulated by GOI on a quarterly basis.
  2. The account may be opened with a minimum initial deposit of Rs.250/-and thereafter any amount in multiples of Rs.100/- may be deposited in an account subject to the condition that a minimum of Rs.250/- shall be deposited in a financial year in one Account.
  3. Maximum investment of Rs. 1,50,000 can be made in one financial year.
  4. Deposits in an account can be made till completion of 15 years, from the date of opening of the account.
  5. The account shall mature on completion of 21 years from the date of opening of the account, or marriage of the account holder taking place, whichever is earlier provided that the account holder girl child has attained the age of 18 years at the time of her marriage.
  6. One withdrawal shall be allowed on attaining the age of 18 years of account holder to meet education/marriage expenses of the account holder girl. The withdrawal shall be upto 50% of the balance at the credit in the account on last day of preceding financial year.
  7. Investment in Sukanya Samriddhi Yojana scheme is exempted from Income Tax under section 80C. The scheme offers Tax Benefit under ie. Principal, interest and outflow all are tax exempted.