Opening a Sukanya Samriddhi Yojana (SSY) account for your daughter just got easier with an app now. Punjab National Bank (PNB) has introduced a new facility on its mobile banking app, PNB ONE.

The app will allow existing customers to open SSY accounts online without visiting a branch. This move not only simplifies access to the popular government-backed savings scheme for the girl child but also marks a major leap in PNB’s digital banking journey, promoting both financial inclusion and women empowerment, the bank said in a statement on July 3.

The new facility enables existing PNB customers to open SSY accounts for their girl children anytime, anywhere, without the need to visit bank branches. This digital initiative represents PNB’s commitment towards leveraging technology for social good and making government-backed savings schemes more accessible to families across the country.

Steps to open SSY account through PNB ONE App:

-Open the PNB ONE App on your mobile device.

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

-Select ‘Govt. Initiative’ from the list.

-Choose ‘Sukanya Samriddhi Account Opening’.

-Follow the on-screen instructions to complete the account opening process.

Also read: Small savings scheme rates for July-Sept 2025 announced: Check latest PPF, SSY, SCSS, NSC returns

While account opening has been digitised, other operations including partial withdrawal, account closure, and premature closure will continue to be processed at the base branch level following existing process for accounts opened through offline mode, the PSU bank said.

Sukanya Samriddhi Yojana and its features

The SSY scheme is a government-backed savings scheme for girl children. The scheme was launched to encourage parents to build a fund for their daughter’s future education and marriage expenses.

Key features of the Sukanya Samriddhi Yojana

Start with just Rs 250

You don’t need a big amount to begin. You can open an SSY account with just Rs 250. You can deposit up to Rs 1.5 lakh every year. You must keep depositing for 15 years. If you miss a year, the account goes into “default” mode.

Great way to save for your daughter’s education

Parents or guardians can open this account for a girl child under 10 years of age. You can open accounts for up to two daughters. Once your daughter turns 18, you’re allowed to withdraw up to 50% of the amount for her education. Just show proof of admission—it’s that easy.

Enjoy triple tax benefits

This scheme doesn’t just help you save — it helps you save on taxes too:

-You get tax deduction on deposits up to Rs 1.5 lakh under Section 80C.

-The interest you earn is completely tax-free.

-Even the maturity amount is tax-free. That’s a win-win!

Also read: 3 step retirement blueprint for a Rs 1 lakh monthly income

Earn high interest

SSY offers one of the best interest rates among small saving schemes. For example, at one point the rate was 8.6%—that’s much better than most regular bank savings accounts.

You only deposit for 15 years, but the account runs for 21

You only need to make deposits for the first 15 years. The account matures after 21 years, and during the gap years, your money keeps earning interest—without you having to put in any more money.

Premature withdrawal allowed in special cases

Life can be unpredictable. If there’s a medical emergency or the unfortunate death of a parent or guardian, the account allows partial withdrawals after 5 years. Also, if your daughter is getting married after 18, the account can be closed early. You just need to inform the bank/post office a month before or within 3 months after the marriage.