Prime Minister Shri. Narendraji Modi, initiated a small deposit scheme “Sukanya Samriddhi Yojana” for the Girl Child as a part of “Beti Bachao Beti Padhao” campaign, earlier this year.
The account may be opened by the guardian in the name of girl child. Account can be opened in post offices or authorized bank branches. Account can be transfered any where in India. After attaining the age of 10 years, the girl child may operate account herself.
Maximum no. of Accounts:
1) Only one account will be allowed per girl child.
2) Parents can open the account maximum two girl children
3) In case of twins or triplets, this facility will be extended to third children
The maximum age limit of the girl is 10 years for availing the scheme. This year, one year grace has been given.
The girl born between 2/12/2003 And 1/12/2004 can avail the scheme before 1/12/2015.
Minimum and Maximum Amount of Deposit:
The account may be open at initial deposit Rs. 1000 and thereafter any amount in the multiple of Rs. 100 can be deposited and the maximum limit of Rs. 1,50,000 in a financial year
The minimum amount of Rs. 1000 should be deposited.
As per the scheme, you can make deposit for 14 years from the date of Sukanya Samriddhi Yojana (Account) opening. You can deposit any amount, for ex. first year you started with Rs. 1000, in second year Rs. 5000 & and in third year Rs. 8000 and so on.
Interest on Deposit:
The Government will be declared every year by the Government. Interest will be credited on yearly basis (compounded yearly).For 2014-15, the government would be paying 9.1 per cent interest. (Current rate 8.60%w.e.f 1st April, 2016)
As applicable under section 80C of the Income Tax Act, 1961.
The account will mature on completion of 21 years from the date of account opening or if the girl gets married.
If account is not closed after maturity, the amount will continue to receive the interest till the closer of account.
After the girl completes the age of 18 years,50% of the money can be withdrawn for higher education or marriage.
Late payment/ Revive of account:
If minimum amount is not deposited in a financial year, account will be discontinued and can be revived by payment of penalty of Rs. 50 per year along with the minimum specified amount per year.
1) Birth Certificate of Girl Child
2) Address of the parents or guardian of the child
3) ID proof the parents or guardian of the child
Download the Sukanya Samriddhi Yojana form – Form Download