Wednesday, June 17, 2015

Sukanya Samriddhi Account-Government schemes for girl child - 'Beti Bachao Beti Padhao' campaign

Indian Government has introduced a small deposit Scheme 'Sukanya Samriddhi Accounts' for the girls-child, as part of 'Beti Bachao Beti Padhao' Campaign. Sukanya Samriddhi Accounts Special deposit accounts under 'Sukaya Samriddhi Yojana'. Our Prime Minister Narendra Modi launched 'Sukaya Samriddhi Accounts' on 22 January 2015. This Scheme Specially designed for girl's  higher education or marriage needs. 



Who can open the Sukaya Samriddhi Account ?


A legal Guardian / Natural Guardian Can open in the name of the children . A Guardian can open only one account in the name of girl child maxi um two accounts in the name of two diff rent Girl Children.Guardian will be called as 'Depositor' and Girl child will be called as 'Account holder'.

What is the Age limit  to open Sukaya Samriddhi Account ?

Account can be opened up to the age of 10 years only from the date of birth for initial operations  of scheme , one year grace has been given. Therefore Girl child who is born on or after 2.12.2003 can open account. for FY 20014-15.  Nomination is not allowed in these account.Account can be opened in Post office or authorised branches of Commercial bank.

What is the Minimum and Maxi um deposit to open the Sukaya Samriddhi Account ?

Minimum Amount for opening of account Rs. 1000/-  and subsequent deposit should be multiple of  one hundred Rupees Thereafter with annual coiling of  Maximum Amount Rs. 1,50,000/- in a finical year. Maximum period up to which deposit can be made till completion of  14 years from the date of opening of account. Partial withdrawal maximum up to 50 % of money can be withdrawn after "Account holder" attaining age of  18  for higher studies .The Account shall mature on completion of 21 years from the date of opening account.

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Penalty : If minimum Rs. 1000/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of  Rs. 50/- per year with minimum amount required for deposit for that year .

What is the Rate of interest on Sukanya Samriddhi Account ?

The Government of India every year declare the interest rates of the scheme. interest rate will be 9.2 % for the financial year 2015-2016 on SSY Scheme.It was 9.1 % for the financial year 2014-15.it will be calculated on yearly basis credited in to account. ie yearly compounded up to completion of 14 years from the date of opening.

What is the Required Documents to open Sukanya Samriddhi Account ?

Below mention listed Documents is required to open sukanya Samriddhi Account

  1. Birth Documents of girl child ( Birth Certificate )
  2. Address Proof ( Who is opening the account on child's behalf )
  3. Identity Proof  ( Who is opening the account on child's behalf )
  4. 3 Photos of  Parents and 3 Photos of Child.
  5. Pan Card and Aadhaar Card Copies of Parents.
  6. Electricity Bill.

Features of Sukanya Samriddhi Account

Minimum Deposit amount for this account is Rs. 1000/- and Maximum is Rs. 1,50,000/- per year.

Money to be deposited for 14 years in this account.

Taxe beate : As applicable under section 80C of the IT Act, 1961.

Interest on Deposit : As notified by GOI , Compounded annually with the option for the monthly interest pay-outs to be calculated on balance in the completed thousands.( Current Rate 9.20%)

Mode of  Deposit : Cash / Cheque / Demand Draft

Partial Withdrawn : 50% of the balance lying in the account as at the end of previous financial years for the purpose of higher education, marriage after attaining the age of 18 years.

Passbook facility is available with Sukanya Samriddhi Account.
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