Sukanya Samriddhi Yojana was initiated by the government to offer tons of features and benefits to a girl child in India. One can invest in this scheme on behalf of his / her girl child aged below 10 in any post office or nationalized banks. Applying for this scheme is quite simple and also an existing account can be transferred simply a bank to a post office and vice versa.
SSY account transfer from post to post office is free, but you need to pay a fee of Rs.100 for transferring an account from Post office to banks or vice versa. You can transfer your SSY account once in a year and if you are also planning to transfer then you must go through the following to know the procedure.
1. To transfer the SSY account of your girl child from a post office to a bank, you need to carry your passbook, KYC documents and visit the same post office branch where you hold the account.
2. Your girl child does not need to present while visiting the branch if she is managing the account by her own
3. You must inform the executive of the post office in case you wish to close your account or want to transfer the account to a particular bank
4. As a legal guardian or parent, you need to submit the account transfer form with duly filled and passbook provided to you by the post office while requesting for transferring your account. And after that, the executive of the post office will deactivate your account.
5. Now you have to visit the bank branch where you have decided to transfer the account and submit the necessary documents with self-attested
6. You have to also submit the KYC documents and other relevant documents at the bank branch provided to you by the post office
7. Once your submitted documents are verified by the bank the transfer request will be processed by closing the existing SSY account. And a new passbook would be generated by the bank branch which includes all the details of the account holder.