In a major step towards digital banking and customer convenience, Punjab National Bank (PNB) has launched a new feature on its mobile banking app ‘PNB One’. Now, parents can open a Sukanya Samriddhi Yojana (SSY) account for their daughters from the comfort of their homes, without visiting a bank branch.
This move comes as a big relief for those who want to secure their daughter’s future financially and are looking for a hassle-free, digital method to do so.
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana is one of the most popular government-backed savings schemes, aimed at supporting the financial future of girl children.
- You can open this account for a girl child up to 10 years old.
- The scheme currently offers an interest rate of 8% per annum, which is significantly higher than many other savings schemes.
- The money invested in SSY qualifies for income tax exemption under Section 80C, and the maturity amount is fully tax-free.
- The investment tenure is till 21 years from the account opening date or until the girl gets married after age 18.
Who Can Open the Account?
To open an SSY account using PNB’s mobile app:
- The parent or guardian must be a PNB customer.
- The girl child should be 10 years or younger.
- The parent or guardian must complete KYC with valid documents.
How to Open Sukanya Samriddhi Yojana Account Using PNB One App – Step-by-Step Guide
PNB has made the entire process simple and completely digital for its existing customers. Here’s how you can open the SSY account using the mobile app:
- Open the PNB One app on your mobile phone.
- Login using your credentials.
- From the menu, tap on ‘Services’.
- Go to the ‘Govt. Initiative’ section.
- Tap on ‘Sukanya Samriddhi Account Opening’.
- Follow the on-screen instructions and provide the required information.
- Upload relevant documents such as birth certificate of the girl and guardian’s ID.
- Review and submit the application.
Once the bank verifies your documents, the account will be opened, and you will receive confirmation via SMS or email.
Important Points to Remember
- Only the account opening process is digital. For other services such as withdrawals, premature closure, or final maturity closure, you will need to visit the same branch where the SSY account is registered.
- The minimum deposit to open an account is Rs.250, and a maximum of Rs.1.5 lakh can be invested in a financial year.
- You can make deposits in lumpsum or in multiple instalments, anytime during the year.
- If you fail to make the minimum annual deposit of Rs.250, the account will be considered inactive. However, it can be revived later by paying the penalty.
Why This Move by PNB Is a Game Changer
This step from PNB not only supports financial inclusion and digital literacy, but it also helps working parents and rural customers who may find it hard to take time out for bank visits.
By enabling this feature on a mobile app, PNB is making it easier for thousands of families to plan for their daughters’ higher education and marriage.
With rising awareness about the importance of investing early for children, this digital facility may encourage more people to secure their girl child’s future early in life.
