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Read : How To Transfer Sukanya Samriddhi Yojana Account From Bank/Post Offices. The account holder then needs to visit the bank branch where they want to transfer the account and submit the transfer documents. The account holders can also withdraw the full amount after the girl child turns 18, which was initially not allowed. The new SSY account will be created and activated. In fact, from the very start of the scheme, parents have been over enthusiastic about the scheme considering the decent rate of interest it is offering on investment and the long term lock in … You need to spend Rs.100 for doing this transfer. The post office executives would close the existing account at the post office and will open a new account at the bank. 2020The Indian Express [P] Ltd. All Rights Reserved. The interest earned under SSY is tax-free, and under Section 80C the investment also earns tax rebate. The bank officials will activate the new account and will also create a new passbook, which would include the account-holders details. #2 In what case SSY account can be transferred? Sukanya Samriddhi Scheme is an investment scheme for the girl child. kong, Insta Savings Account, Insta Save FD Account and more, Regular Savings Account, Salary Account and more, The One Savings Account, Gold Savings Account and more, Advantage Woman Aura Savings Account, Woman Savings Account and more, Family Banking, Young Stars Savings Account and more, NPS Plus Savings Account, Demat Account and more, Fixed Deposit, Recurring Deposit, iWish Flexible RD and more, Fixed Deposit, FD Xtra, Tax Saving FD and more, Recurring Deposit, RD with Monthly Income Scheme and more, Deposit any amount, any time with no penalty for missing any deposits, Forex services, Send Money Abroad, Online Forex and more, Multi-currency Forex Prepaid Card, Sapphiro Forex Prepaid Card and more, Transfer money using wire transfer or foreign currency demand draft, Get help with forex. You need to spend Rs.100 for transferring account from bank to post office or post office to bank. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. How to transfer Sukanya Samriddhi Account from Post Office to any Bank? It will also show the carried forward balance from the previous account at the post office. With the launch of India Post Payments Bank (IPPB) recently, the monthly instalment of RD amount can be transferred online into your PPF and Sukanya Samriddhi Account online … Procedure to Transfer Sukanya Samriddhi Account . Parents of a girl child can open Sukanya Samriddhi Account on behalf of their girl child. SSY transfer process. You also need to fill up account opening form and resubmit KYC documents. Click here to join our channel and stay updated with the latest Biz news and updates. The parents or guardians can also make a partial withdrawal for the girl child for her education when she has cleared 10th class or turned 18 years. Yes, it is possible to transfer SSY account online. 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