If you have an old Sukanya Samriddhi Yojana (SSY) account opened by your grandparents, it’s time to act.
The government has introduced new guidelines, effective from October 1, 2024, aimed at regularizing SSY accounts that were opened incorrectly.
According to the Department of Economic Affairs, accounts opened by grandparents must now be transferred to the legal guardian (parents) before this deadline.
What to Do if Your SSY Account Was Opened by Grandparents
Previously, grandparents could open SSY accounts for their granddaughters, but the new rules state that only legal guardians, like parents, can now manage these accounts.
If your account falls under this category, you’ll need to transfer it to a parent’s name following the new guidelines.
Required Documents for Transfer
To make sure the account is transferred smoothly, you’ll need the following documents:
Basic Account Passbook: Contains all account details.
Girl’s Birth Certificate: Proof of age and relationship.
Proof of Relationship: A legal document like a birth certificate.
Parent’s ID: Government-issued ID of the parent or legal guardian.
Filled Transfer Form: Obtain this form from the post office or bank.
Steps to Transfer the Account
- Visit the post office or bank where the account was originally opened.
- Inform the officials about the account transfer as per the new guidelines.
- Fill out the provided transfer form, ensuring both the grandparent (current guardian) and parent (new guardian) sign it.
Verification and Account Update
Once the form and documents are submitted, the bank or post office will verify the details. Additional information may be requested if necessary.
After successful verification, the guardian details in the account will be updated accordingly.
