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  • Sukanya Samriddhi Yojana Account for OCI & PIO

    All about Sukanya Samriddhi Yojana Account for OCI & PIO

    Sukanya Samriddhi Yojana was a savings scheme launched by the government for the welfare of the girl child. This account lets parents secure the financial future of their girl child by investing in the account. The account can be opened for any girl child below the age of 10 years. The parent or guardian will deposit the money in the account which has been opened under the name of the girl child. The minimum amount that needs to be deposited in the account is Rs.1000 a year. The plan comes with many advantages such as partial withdrawals.

    Who is eligible for Sukanya Samriddhi Yojana Account?

    Every girl child who is below the age of 10 years is allowed to open a Sukanya Samriddhi Yojana account. The account can’t be opened for boys or for girls over the age of 10 years. The account can be opened by the guardian or the parent of the girl child. Only one account is allowed for each girl child and two accounts for every family.

    Sukanya Samriddhi Yojana account for OCI & PIO individuals

    It is very well known that all Indian nationals are eligible for the Sukanya Samriddhi Yojana scheme. But there are others like OCI & PIO individuals who might want to open a Sukanya Samriddhi Yojana account for their children. The scheme specifies that an NRI can’t open an account when they are in another country but they can open the account for their girl child once they are in India.Given below is the eligibility for OCI & PIO girl children.

    Nationality of the mother

    Nationality of the father

    Daughter’s nationality

    Eligibility

    Mother is an Indian(NRI)

    Father is an Indian(NRI)

    Daughter is OCI or PIO

    Not eligible

    Mother is not an Indian residing outside India

    Father is an Indian and residing outside India

    Daughter is OCI or PIO

    Not eligible

    OCI or PIO

    OCI or PIO

    Daughter is PO

    Not eligible

    OCI or PIO residing outside of India

    OCI or PIO residing outside of India

    Daughter is an Indian

    Not eligible

    OCI or PIO residing in India

    OCI or PIO residing in India

    Daughter is an Indian

    Eligible

    OCI or PIO residing outside of India

    OCI or PIO residing outside of India

    Daughter is an Indian residing in India

    Eligible

    One can apply for Sukanya Samriddhi Yojana at any post office or at one of the many designated banks located all over the country.

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