Can a Saving account be converted to a Sukanya Samriddhi Account


Can a saving account be converted to a Sukanya Samriddhi Account?

Sukanya Samriddhi Account is a special small saving account that can be opened by the parents or legal guardians of a girl child in her name for her financial security and independence when she grows up to become an adult.  Launched under Sukanya Samriddhi Scheme, the account can be opened for any girl below the age of 10 years and born and residing in India.

The scheme offers a handsome interest rate of 9.1 per cent, which is even higher than the much popular Public Provident Fund (PPF) and offers additional benefit of tax exemption under section 80C of Income Tax.

saving account converted SSA

With the launch of scheme in January 2015, a number of banks and post offices have been authorized to open Sukanya Samriddhi Account and a lot of querries have been already floating over internet for the details of the scheme and how the account can be opened.  One such common query we have been getting from people is whether a normal saving account could be converted to Sukanya Samriddhi Account or not.

Well, the answer to this question is NO.  Sukanya Samriddhi Account is opened under a special scheme and thus any other kind of saving account could not be converted to SSA.  Also, an SSA can only be opened under the name of the girl child and it could never be a joint account.

It is more of a small saving plan than a normal saving account, since the money could not be withdrawn until the account matures after 21 years or at the time of the marriage or higher education of the girl child.

That means, even if the girl child or her parents or legal guardians already have a saving account in the same bank, they would still have to go through the account opening processes if they want to open an Sukanya Samriddhi Account for their daughter.

At the same time, there is not much of a hassle in getting a Sukanya Samriddhi Account opened in any of the authorized banks or post offices.  You simple need the following documents along with the deposit money of Rs 1,000 and you would get the SSA opened for your daughter:

  1. Certificate of Birth of the girl child
  2. Identity proof of the parent or legal guardian of the account holder
  3. Address proof of the parent or legal guardian of the account holder

There is no other piece of documentation or verifications required for opening Sukanya Samriddhi Account.  So opening an altogether another account for the purpose of financial security of your girl child should not be a problem for you.

Today when our lives are full of insecurities, we definitely need to consider the safety of our family, especially our daughters since a lot of money is required at the time of marrying them.  Through Sukanya Samriddhi Account, you can make sure that you keep depositing whatever amount you have every month or even every week and rest assured that there is a lump sum amount already lying safe to take care of the future of your girl child.

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  8 Responses to “Can a Saving account be converted to a Sukanya Samriddhi Account”

  1. How to open an account

  2. Want to deposite chq in accouny. Pls reply me. In which name should chq to be deposit


  4. How many times i deposited money in post bank.
    if i want Deposit Rs 2000 in the month of May and than Aug 5000,
    Dec 5000 can i deposited three times per year.

  5. hamare pm dawara lunch kiya gaya sukanya yojana
    bahut aacha yojana hai jise har indian apane beti ke liye aek sapna pura kar sakta hai
    jai hind

  6. Hi,

    For address proof, is it must to submit the proof containing the address of the city where you want to open the account ? My issue is that I am staying on rent in Bangalore and I don’t have any govt. provided address proof (not sure if Gas bill/landline bill of rented accomodation will be accepted). Can i submit the address proof containing address of my native/home town in Bangalore’s post office ?

  7. Really, this scheme has provided the best instrument a middle or lower class families can have, brainstorming over this scheme’s pros and cons I am also going to open an SSY account for my 07 months old little daughter.

  8. Hi,
    After opening an SSA account , can it be converted as a savings account ???

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