SukanyaSamriddhiYojna Scheme Details
SukanyaSamriddhiYojna Scheme Details
SukanyaSamriddhiYojna is a money deposit scheme for the girls. You can open the SukanyaSamriddhi account at any time after the birth of a girl child to till she turns to 10. You can deposit the minimum amount of 1000/- to maximum of 1.5lakh during the current year. You can open the account in any post office or in any banks so that the account will continue to exist up to 21 years from the date of opening or stays up to the marriage of the girl after turns to 18 years.
You can also withdraw the amount for the education of the girl after she turns to 18 years. But only 50% of the amount is allowed to draw.
How to open the Account
The account can be opened by the girl parents/ legal guardian in the name of the particular girl. According to the rule one account is opened for a girl and the government won’t accept to open two accounts for a girl.
Parents of the girl have to submit the birth certificate and other identity and residential proofs of the depositor to the post office/ bank.
Amount to be deposited
Parents/ guardians of the girl can open the account with a minimum amount of 1000/- and thereafter any amount you can add but it should not exceed Rs 1,50,000 in a financial year. The amount can be deposited to the account till the completion of 15 years which is calculated from the date of opening. When the account matures the amount starts earning interest. For the irregular account, a certain amount has to pay by the depositors.
Mode of Deposit
The Amount can be deposited in cash or by cheque or draft. You can also transfer the amount through electronic means in the particular post offices/ banks.
The Interest rate on the deposited amount
Interest rates from the launching time
From April 1, 2014, is 9%
From April 1, 2015, is 9.2%
From April 1, 2016, to June 30, 2016, is 8.6%
From July 1, 2016, to September 30, 2016, is 8.6%
From October 1, 2016, to December 31, 2016, is 8.5%
From July 1, 2017, to December 31, 2017, is 8.3%
From January 1, 2018, to March 31, 2018, is 8.1%
For the monthly interest, the amount should be in thousands.
How to operate the Account
The parents/ guardians of the girl can operate the account till she turns to 10 years. After 10 years the girl can herself operate the account.
How to close the Account
In case of death of the account holder then the account will be closed completely if produced with a death certificate which is issued by the competent authority. The leftover amount will be paid along with the interest till the month preceding to the guardian/ parent of the account holder.
Coming to the other case, if you want to close the account then it should complete 5 years from the opening date. Only these two cases will be allowed according to the rules.
A passbook was given to the holders at the time of opening the account. It consists of the birth date of the girl, account opening date, account number, name and address along with the amount deposited.
It is possible to transfer the account
You can transfer the account anywhere in India and it is free cost. Simply you have to submit shifted address proofs of either parents/ guardian. In case failed to submit the address proofs then a fine of Rs 100 is collected to transfer the account. You can transfer the account through online also.
Withdrawal rules and Amount mature details
Only partial amount can be withdrawn for the education purpose that to allowed only when the girl turns to 18. The amount will be matured only after completion of 21 years from the date of opening the account. The account will be closed only after the completion of 21 years.
Only Indian residents can open this account. SukanyaSamriddiYojna (SSY) is a tax-free scheme and the benefits are non-taxable.