Sukanya Samriddhi Yojana

SUKANYA SAMRIDDHI YOJANA

Sukanya Samriddhi Yojana has been introduced vide Government of India Notification No. G.S.R.863(E) dated 02.12.2014 to promote the welfare of girl children

Features:-

Ø  Account Opening:- >> A natural or legal guardian on behalf of a girl child.

 >> Account can be opened till the girl child attains the 10 years of age.

>> Account can be opened in Post Offices and notified branches of Commercial branches.

>> Birth Certificate of the girl child must be submitted at the time of opening of account.

Ø  Number of Accounts:- Up to two girl children

Ø  Amount of Deposit:- Minimum Rs. 1000/- initial deposit with multiple of Rs.100/- with annual ceiling of Rs.1,50,000/- in a financial year.(No restriction in number of deposit in a financial year).

Ø  Tenure: - 21 years from the date of deposit

Ø  Maximum Period of Deposit:- 14 Years from the date of opening of account.

Ø  Interest on Deposit:- Current Rate 9.20%

Ø  Transferability:-The account can be transferred from one bank/post office to another anywhere in India.

> Tax benefits u/s 80C :- (1) Amount of Deposit made.(Claimed by the legal guardian whose   name enters in SSY Account)

     (2) Interest Accumulated.

     (3) Final Proceedings.

Ø  Account Closure:- After the girl child attains the age of 18 years, 50% of the balance standing at the credit of the account at the end of the preceding financial year can be withdrawn for the purpose of marriage/education. Account can be closed after completion of 21 years.