Small Steps, Big Savings: Sukanya Samriddhi Goes Digital on PNB ONE

Punjab National Bank has made it easier than ever for parents to invest in their daughters’ future by enabling online opening of Sukanya Samriddhi Yojana (SSY) accounts through its PNB ONE mobile app. This digital facility allows existing PNB customers to open SSY accounts for girls under 10 years old, eliminating the need to visit a bank branch and marking a significant step in financial inclusion and women’s empowerment.

 

Key Highlights:

 

Fully digital process: Existing PNB customers can open an SSY account for their girl child through the PNB ONE app, anytime and anywhere.

 

Step-by-step process:

 

•⁠  ⁠Open the PNB ONE app and log in.

 

•⁠  ⁠Tap on the ‘Services’ option from the main menu.

 

•⁠  ⁠Select ‘Govt. Initiative’.

 

•⁠  ⁠Choose ‘Sukanya Samriddhi Account Opening’.

 

Follow the on-screen instructions to complete the process.

 

Scheme benefits: SSY offers an attractive 8% annual interest rate, tax benefits under Section 80C, and tax-free maturity returns.

 

Important note: Only account opening is online; withdrawals, account closure, and premature closure must still be done at the base branch.

 

Outlook:

PNB’s digital initiative streamlines access to one of India’s most popular savings schemes for the girl child, empowering more families to plan for education and marriage expenses. As digital banking expands, such features are expected to further drive financial inclusion and simplify government-backed investments.

 

Source: Economic Times, Financial Express, PNB