Sukanya Samriddhi: Here’s how to transfer your SSY account from post office to bank

Sukanya Samriddhi Account: The Sukanya Samriddhi Yojana (SSY) is a flagship savings scheme introduced by the Government of India to promote financial security for the girl child.

This initiative allows parents or legal guardians to open a savings account in the girl’s name, offering competitive interest rates and tax benefits. The accumulated funds can be used for the child’s education or marriage once she turns 18.

While SSY accounts are primarily opened in post offices and authorised banks, there may be instances when you wish to transfer the account—perhaps for better accessibility or convenience. The transfer process is straightforward, whether you’re moving your account from a post office to a bank or between banks.

Here's how to do it:

1. Submit a transfer request
   
   To initiate the transfer, visit the post office or bank where your SSY account is currently held. Request a transfer form and fill it out. Along with the form, submit a written application specifying the reason for the transfer and the details of the new bank branch.
    
2. Provide new bank details
   
   The transfer form requires you to mention the details of the bank branch where you want the account to be transferred. This includes the branch name, address, and contact details. Ensure the new branch is authorised to handle Sukanya Samriddhi accounts.
    
3. Handover of account documents
   
   Once your request is processed, the current post office or bank will forward your account documents, including the original passbook, to the new branch. Any balance in the account will also be transferred in the form of a cheque or demand draft.
    
4. Complete KYC formalities at the new branch
   
   At the new bank branch, you will need to fill out a fresh SSY account opening form and resubmit Know Your Customer (KYC) documents, such as proof of identity and address. Some banks may allow you to complete this step online if they offer SSY account services digitally.
    
5. Account transfer confirmation
   
   Once the KYC formalities are completed, your account will be successfully transferred to the new bank branch. You will receive an updated passbook reflecting the transfer.

Certain banks now offer online transfer facilities for Sukanya Samriddhi accounts, eliminating the need to visit a branch. If convenience is a priority, consider transferring your account to a bank that provides this option.

Before initiating the transfer of your Sukanya Samriddhi account, ensure that the new bank branch is authorised to handle SSY accounts, as not all branches offer this service. Additionally, keep essential documents, such as your SSY passbook and updated KYC details, readily available to prevent any delays in the process.