SSY: Do you also have an old Sukanya Samriddhi Yojana account? Which was opened by your grandparents. The government can close such Sukanya Samriddhi account of yours. If you have an old account of Sukanya Samriddhi Yojana (SSY)
SSY: Do you also have an old Sukanya Samriddhi Yojana account? Which was opened by grandparents. The government can close such Sukanya Samriddhi account of yours. If you have an old account of Sukanya Samriddhi Yojana (SSY), then there is relief news for you. The Department of Economic Affairs has recently issued new guidelines, which will come into effect from October 1, 2024. These rules are to regularize those savings accounts which were opened wrongly. They have to be transferred to their name before the 1st date.
Did grandparents open Sukanya Samriddhi accounts?
Now, if grandparents have opened SSY accounts for their granddaughters. So they have to follow the new rules. Earlier, grandparents used to open these accounts for their grandchildren, but according to the new guidelines, now only legal guardians (parents) can open and close the accounts. Such old accounts have to be transferred to the name of the parents.
These documents will be required to correct the old accounts:
Basic account passbook: It contains all the account details.
Girl’s birth certificate: Proof of girl’s age and relationship.
Proof of relationship with the girl: Birth certificate or other legal document.
Proof of identity of new guardian: Government identity card of parent or guardian.
Duly filled application form: This form will be available at the post office or bank where the account has been opened.
How to transfer:
First, visit the post office or bank where the account was opened.
Inform the officials about transferring the account guardian as per the new guidelines.
Fill the transfer form provided by the bank or post office. Both the existing account holder (grandparents) and the new guardian (parents) must sign this form.
Verification and update:
After submitting the form and other documents, the bank or post office staff will review the request and do the verification. If necessary, they may also ask for additional information. After the verification is complete, the account records will be updated with the new guardian’s information.
