Individuals who have a girl child prefer Sukanya Samriddhi Account (SSA) while choosing tax-savings investments. The government has kept interest rates of small savings schemes, including that of Sukanya Samriddhi Account, unchanged for the January to March quarter. Interest rates of small savings schemes are revised every quarter. After opening SSA, you can manage everything online with India Post Payments Bank (IPPB) app.
Here is a step-by-step guide for transferring money in your post office Sukanya Samriddhi Account through IPPB
1) Add money from your bank account to IPPB account.
2) Go to DOP Products. Choose Sukankya Samridhi Account.
3) Write your SSY account number and then DOP customer ID.
4) Choose the instalment duration and amount.
5) IPPB will then notify you for successful payment transfer made through IPPB mobile application.
6) You can opt for various post office investment options provided by India Post and make regular payments through IPPB basic savings account.
SSY latest interest rates
The government decides the interest rate on SSY, and they can change every quarter. The minimum investment in Sukanya Samriddhi Account is ₹250 a financial year, and the maximum is ₹1.5 lakh. SSA matures 21 years from the date of opening the account or at the time of marriage of the child. The present interest rate on SSA is 7.6%.
DakPay digital payments app
Last month, the government launched the DakPay digital payments app. This can also be used by the post office and IPPB customers. DakPay provides digital financial and assisted banking services provided by India Post and IPPB. It also facilitates services such as sending money, scanning QR code and making payment for services and merchants digitally. It will also provide interoperable banking services to the customers with any bank in the country.