You can invest a minimum of ₹250 and a maximum of ₹1.5 lakh annually under this scheme. Currently, it offers an attractive interest rate of 8.2%, making it a long-term investment option that benefits from compounding. Many parents opt for this scheme to build a substantial corpus for their daughter’s future needs, such as education or marriage.

If you are considering investing in this scheme and wondering whether you can open an account online, here is a detailed guide.

How to Open a Sukanya Samriddhi Account

1. Fill the Form: Obtain the Sukanya Samriddhi Yojana application form.
2. Prepare Documents: Attach the required documents, including the girl’s birth certificate, a photograph, and the guardian’s identity proof.
3. Visit the Branch: Submit the completed form and documents at the nearest authorized bank or post office. Carry original documents for verification.
4. Account Verification: The bank or post office staff will verify your documents and process your application. Once verified, the account will be opened.

Can You Open a Sukanya Samriddhi Account Online?

Currently, the facility to open an SSY account online is not available. Accounts must be opened by visiting a bank or post office in person. However, you can download the application form from the official websites of authorized banks or the post office to save time.

Online Services Available After Account Opening

Once the Sukanya Samriddhi Account is opened, several services can be accessed online, such as:

• Depositing money into the account.
• Paying subsequent installments.
• Checking the account balance and transaction statements.
• Transferring the account to another branch, if required.
• Transferring the matured amount to the girl’s bank account when the scheme matures.

By combining these online facilities with the benefits of this scheme, parents can efficiently manage the account after its setup.

Investing in the Sukanya Samriddhi Yojana is a smart and secure step toward ensuring your daughter’s financial independence and future stability. Start early to maximize the benefits of compounding and safeguard her future goals.

Minimum investment Rs 5,000

You can start investing in SBI Quant Fund with a minimum of Rs 5,000. The benchmark index of this scheme is BSE 200 TRI. The fund managers of the scheme are Sukanya Ghosh and Pradeep Kesavan (Overseas Fund).

Who can invest

This can be a better option for investors looking for an option to create wealth in the long term. The scheme aims to generate long-term capital appreciation by investing in equity and equity-related instruments on an in-house quant model.

What is a Quant Fund?

Quant funds or quantitative mutual funds use quantitative analysis to make investment decisions. SBI Quant Fund uses an in-house multi-factor model that incorporates factors such as momentum, value, quality and growth to optimize performance across different market cycles.

Wealth will be created in the long term

SBI Quant Fund provides investors with a strategic opportunity to diversify their portfolio and achieve better risk-adjusted returns. This scheme can be a better option for long-term capital appreciation.

Load

Exit load of 0.5% will be applicable if units purchased or switched out from another scheme of the fund are redeemed or switched out on or before 6 months from the date of allotment. Exit load will be zero if units purchased or switched out from another scheme of the fund are redeemed or switched out after 6 months from the date of allotment.

But if you do not want to take any kind of risk regarding your investment, then you can make the FD scheme itself a bumper return machine. But for this you will have to change the way of investing in FD and have to take a long term goal for wealth creation. By doing this, you can add a good amount from FD as well. Know here how to make big money from FD-

This technique will come in handy

Laddering technique can be very useful for you in making big money from FD. In this, instead of fixing the money at once, you have to invest it in several FDs of different duration. For example, you have 5 lakh rupees. In such a situation, instead of making an FD of 5 lakh rupees, make 5 FDs of 1 lakh each and fix them for 1, 2, 3, 4 and 5 years. This will make one of your FDs mature every year. This way you will have enough liquidity available.

This is how you get the benefit

You fixed your FD for 1, 2, 3, 4 and 5 years. In such a situation, your first FD will mature in 1 year. Fix it again for five years. Your second FD will mature in the second year. Fix it also for the next five years. In this way, your FD will mature every year one by one. You have to do the same with all of them. In this way, in the next 10 years, you will accumulate a good amount through FD.

Very effective for retired people

FD laddering technique is considered very effective for retired people. After the FD matures, they can use its interest amount and get the remaining money fixed again. In this way, from time to time when the FD matures, they will keep earning through interest and their deposited amount will be completely safe.

All The Authors Who Write Books About Money Give Many Principles Regarding Money Management In Their Books. If You Also Want To Learn How To Manage Money And Want Money To Work For You And Not For Money, Then Today We Are Telling You Some Ways To Manage Money, By Adopting Which You Too Can Become Rich –

Avoiding Wasteful Expenditure:

Although Most Of The People Follow It, But Many People Do Not Understand It. Nowadays Many People Use Credit Cards In Their Life. It Could Be A Credit Card Or A Loan Through The Buy Now Pay Later Scheme. When You Use Credit This Way, You Will Have To Pay It Back At Some Point, And At That Time It Will Be A Waste Of Money. Instead, You Can Save Some Of Your Income And Invest It Somewhere.

50-30-20 Rule Of Investment:

Everyone Sets A Budget Before Starting Any Work. Only After That Any Work Is Started. You Should Also Set A Budget Every Month As To How Much You Will Spend On What And How Much Money You Will Save And Invest. A Simple Rule For This Is 50 – 30 – 20 Rule. According To This Rule, You Should Spend 50% Of Your Income On Basic Needs. 30% Should Be Spent On Your Desires, Like If You Need A Phone Or Any Other Such Need. After This, You Should Invest The Remaining 20% In Some Form Or The Other.

Investing For The Long Term:

In Today’s Time, Everyone Wants To Become Rich Overnight, No One Has Patience. Therefore, Whenever Someone Invests Anywhere, He Stops The Investment Only When He Gets A Very Small Amount Of Profit. All The Successful People, Be It Warren Buffet Or Rakesh Jhunjhunwala, Everyone Believes That If We Have Full Faith In What We Are Investing In, Then We Should Invest For The Long Term. This Investment Will Keep Compounding And Will Give Us Good Returns In The Long Term.

While Investing, Pay Attention To Its Nature:

Whenever You Invest In Something, You Should First Understand Its Nature. Whatever We Are Investing In, Will It Be An Asset Or A Liability For Us. If That Investment Will Give Us Consistent Income In The Long Term, Then It Is Our Asset And We Should Invest In It. On The Contrary, If It Becomes A Liability For Us And In The Long Term It Will Cost Money Or Its Value Will Reduce, Then It Will Be A Liability. Thus, We Should Invest Only In Assets And Not In Liabilities.

These Few Points Will Be Found In All The Books Related To Money That You Read. By Adopting These Methods, You Can Easily Manage Money And If You Follow Them Continuously, You Can Also Become Rich In Future. So Adopt These Methods Today Itself And Start Your Journey Of Becoming Rich.