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In a significant move to simplify financial planning for girl children, Punjab National Bank (PNB) has introduced an innovative feature allowing customers to open Sukanya Samriddhi Yojana (SSY) accounts digitally and almost instantly through its mobile banking application. This eliminates the need for cumbersome paperwork and multiple branch visits, making it incredibly convenient for parents and guardians to secure their daughter's future.
The Sukanya Samriddhi Yojana is a popular government-backed small savings scheme designed to encourage parents to build a fund for their girl child's education and marriage expenses. It offers attractive interest rates, compounded annually, along with significant tax benefits under Section 80C of the Income Tax Act.
Previously, opening an SSY account required physical presence at a bank or post office, along with various documents. PNB's new digital facility is set to change that, offering a hassle-free, paperless, and time-saving experience for millions of parents across India.
Key Features and Benefits of the Digital SSY Account Opening on PNB App:
Instant Process: While "seconds" might be an exaggeration for the entire end-to-end setup, the initiation and majority of the steps are completed digitally very quickly, significantly reducing overall processing time.
Paperless Convenience: All necessary documents can be uploaded digitally, doing away with physical forms.
No Branch Visit: Parents can now open an SSY account from the comfort of their home, at any time.
Accessibility: Accessible via the PNB mobile banking app, available on smartphones.
Who Can Open a Sukanya Samriddhi Yojana Account?
The account can be opened by the natural or legal guardian of a girl child from her birth until she reaches the age of 10 years. Only one account is allowed per girl child, and a maximum of two girl children per family (with some exceptions for twins/triplets).
Deposit Limits:
The minimum deposit required is just Rs. 250 per financial year, while the maximum is Rs. 1.5 lakh per financial year. Deposits can be made for 15 years from the date of account opening.
How to Open a Sukanya Samriddhi Yojana Account on the PNB App:
Download & Log In: Ensure you have the latest version of the PNB mobile banking app. Log in using your credentials.
Navigate to SSY: Look for the 'Sukanya Samriddhi Yojana' option, usually under 'Investments' or 'Open New Accounts'.
Enter Beneficiary Details: Provide the girl child's details, including name, date of birth, and Aadhaar number (if available).
Enter Parent/Guardian Details: Fill in the details of the parent or legal guardian opening the account, including PAN and Aadhaar number.
Upload Documents: Digitally upload scanned copies of required documents, such as the girl child's birth certificate, guardian's PAN card, and Aadhaar card.
OTP Verification: Verify the details using a one-time password (OTP) sent to your registered mobile number.
Nomination: Complete the nomination details for the account.
Initial Deposit: Make the initial deposit (minimum Rs. 250) from your linked PNB savings account.
Once these steps are completed and verified by the bank internally, your daughter's SSY account will be successfully opened. This streamlined process truly empowers parents to take proactive steps towards their daughter's financial security with unprecedented ease.
