Sukanya Samriddhi Yojana (SSY) Interest Rate 2024: Big change in the rules of Sukanya Samriddhi Yojana, do these important things before October 1

By Newscrab Deskteam Sep 13, 2024, 15:11 IST

Sukanya Samriddhi Yojana (SSY) Interest Rate 2024: According to the new rules. Only legal guardians or parents can open and close accounts under Sukanya Samriddhi Yojana.

Sukanya Samriddhi Yojana: The purpose of the new rules to be implemented from October 1, 2024 is to remove the mistakes found in opening the account.

New guidelines for Sukanya Samriddhi Yojana: If you have also invested in Sukanya Samriddhi Yojana, then it is important for you to know that new rules regarding this are going to be implemented from October 1. In fact, the Department of Economic Affairs of the Ministry of Finance has recently issued new guidelines to regularize irregularly opened savings accounts under NSS.

The purpose of the new rules to be implemented from October 1, 2024 is to remove the mistakes found in opening the account. These guidelines also include updates related to accounts opened by grandparents under Sukanya Samriddhi Yojana.

Transfer Sukanya Samriddhi Yojana account from grandparents to parents.

According to the new rules, such accounts which are not opened by the girl's parents or legal guardian, will now have to be mandatorily transferred to the name of the parents or their legal guardian as per the new guidelines. According to the new rules. Only legal guardians or natural parents can open and close accounts under Sukanya Samriddhi Yojana.

To transfer Sukanya Samriddhi Yojana (SSY) account from grandparents to parents, you will need these documents:

Original account passbook: This is necessary because all the necessary account details are given in it.

Girl's birth certificate: It serves as proof of the girl's age and the relationship of the guardian with the girl.

Certificate of guardianship of the girl: Birth certificate or other legal document that establishes the relationship of the guardian with the girl.

Identification proof of the new guardian: The new guardian of the girl must submit a government-issued identity card.

Application form: This form will be available at the post office or bank where the account is opened, and must be filled and submitted to start the transfer process.

Step-by-step process to transfer account:

  • First of all, submit all the required documents including the identity proof of the current account holders (grandparents) and the new guardians (parents).
  • Then go to the branch where the account was opened.
  • Get the guardianship transfer form from the bank or post office.
  • Fill the form keeping in mind that all the required columns are filled correctly, including the correct details of both the grandparents (current guardians) and the parents (new guardians).
  • Make sure that both the existing account holder (grandparents) and the new guardian (parents) sign the transfer form. This step is necessary for authorization.
  • Submit the signed transfer form along with all the supporting documents to the bank or post office.
  • After receiving the form and supporting documents, the bank or post office staff will review your request and then start the verification process. Once the verification is complete, the details of the new guardian will be updated in the account records.