We opened the Sukanya Samriddhi Account with Post Office but unable to cope with their old rules. In that case how to transfer Sukanya Samriddhi Account from Post Office to Bank?
The biggest hurdle with Post Office is that you can’t deposit money using e-Transfer if the Post Office is not connected with CBS facility. Also, what if you are changing your location from one city to another city and you just need to transfer the branch of Post Office or Bank?
Before jumping into the transfer, you must know which banks are authorized to open Sukanya Samriddhi Account. Below is the complete list.
Apart from Post Office, you can also open the account with all the above listed 28 Banks.
There may be many reasons and few are listed below.
# You may feel the Bank or Post Office not providing you proper service.
# The concerned Post Office may not be connected with CBS facility, which is the biggest hurdle in depositing money online.
# You may be changing location. Hence, you feel it better to have the account within your city or nearest to your stay.
There are five steps involved and I explained the same in below image.
Step 1–Visit the Post Office where you have Sukanya Samriddhi Account with Passbook and KYC Documents. Girl child who is the primary account holder need not visit the Post Office. However, if she is managing the account on her own, then she must visit the Post Office.
Step 2–Submit the transfer request by mentioning the full address of Bank where you want to transfer. You have to surrender the Passbook also. Remember to provide correct Bank Address.
Step 3–After due verification of signature and other documents, Post Office will give you (or arrange to send) the original documents such as a certified copy of the account, the Account Opening Application, specimen signature etc. to the new Bank branch address, along with a cheque orDD for the outstanding balance in the Sukanya Samriddhi Account.
There is no clarity of process mentioned whether the Post Office will give all these documents in your hand or they directly send to your bank (where you want your Sukanya Samriddhi Account should be transferred).
Step 4– Visit the Bank (where you want the Sukanya Samriddhi Account to be transferred) with the documents you received from Post Office and your KYC documents.
Step 5–Fill the new account opening form of Sukanya Samriddhi Account and submit it to Bank along with KYC Documents and the documents you received in Post Office.
That’s it. This is the whole process of transfer Sukanya Samriddhi Account from Post Office to Bank.
Note-This transfer facility is at free of cost if you furnish the proof of shifting of residence of either the guardian or the Account holder. If you are unable to provide the proof of address which is new, then you have to pay the fee of Rs.100 to the post office or the Bank to which the transfer is made. The process of transfer will be effected electronically if the post office or the Bank concerned, has access to the facility of CBS.
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Hello , I have transferred my ssy account from post office to sbi finally after a lot of struggle. The SbI branch manager near my home was helpful so he did the process smooth by giving NOC of tranfer which was asked by postmaster to initiate transfer process. Otherwise even 90% of staff at both sbi and PO including chief managers are also not aware and denying that the transfer is impossible.
However my transfer of account went smooth as mentioned process by you.
And I filled new ssy account opening form after the branch recieved documents from post office. I also recieved passbook for same. The amount from post office also credited.
Now my doubt is, the ssy account is started afresh ? Or the maturity dates are continue to be as old ones ? There is no clear mention on sbi passbook.
Please reply anyone.
Dear Rajeev,
Pleasure to see your successful transfer :) The account opening date is always the original account opening date but not the transferred date.
Sir what will be the format of the form to transfer the ssy account from post office to bank
Dear Satish,
You will get it at either Post Office or at Bank.
I have Transferred SSA account from Post office to sbi Bank. Post office closed the account on 10th feb 2018. Bank opened the account on Apr 24 2018. We missed the interest for 2018 which will be credited on 31 March. Both bank and post office are not giving proper answer. Is there a way to escalate this problem and get the interest credited back?
How you transfer your SSY account from post office to bank
Dear Shashi,
Refer the above post.
Dear Revathi,
Escalate the issue at the next level in the bank and also in the Post Office rather than relying on branch employees claim.
Sir,
Is it possible to transfer Sukanya Samriddhy Account from Non CBS Post office to CBS post office?
Dear Chinmoy,
Yes, but the struggle is MORE.
As per the above description, the new SSY account will be opened at the bank after transfer but my daughter's age is now more than 10 years. Will they open a new account?
Dear Ravikant,
The features and all investments will continue only they open the account.
My daughter's sukanya samridhi yojana was not transferred from non CBS to CBS in postal of Sikkim to Odisha.It is already 6 months.What to do.
Dear Sonali,
Raise the complaint with both the banks to know whose fault it is.
My sukanya samridhi account closed on December 2017 and transfer from 1 CBPO Delhi to SBI Falakata. Till date no idea where it is. If I want to Lodge a complaint, where to Lodge it SBI or post office ?
Dear Subhan,
You have to interact with both the banks to know the status.
Basavraj sir, is there any written amendments regarding transfer of SSA Account from post office to bank. If it is,please send . Because most of post office employees argue to show proof. And I need to transfer account from Maharashtra post office to SBI Patna.
Thank you Basavaraj for this wonderfull article. You are really educating(financially) people with this. Now i will transfer my daughters account from Post Office to a bank to save energy and money. Will keep posted once done.
Thank You,
Nilesh
Dear Nilesh,
Thanks for your kind words. Surely, looking for your experience.
Hi,
My mother as a guardian to my daughter has opened the Sukanya Samridhi account 3 years back. Though i am paying the premiums for the SSA account on my daughter name, i am unable to avail the tax benefits as the guardian is my mom. Can you please advice what option do i have to transfer the SSY account from my mom to my name.?
The SSY account currently with Post office.
When i checked with some employee of the Post office in Bangalore, she said we should have not opened the SSY account in grand mother name as a guardian when the parents are alive. And it is now difficult to transfer. So i am confused what steps to take in order to correct it?
Srini-You have to change guardian. It is possible. Check with them.