'' Sukanya Samriddhi Yojana '' - Special Depost Scheme for Girls

 

Sukanya Samriddhi Account meaning Girl Child Prosperity Scheme is a special deposit scheme launched by Prime Minister Narendra Modi on January 22,2015 for girl child

The scheme of Sukanya Samriddhi Account came into effect via notification of Ministry of Finance. The notification details are Notification No. G.S.R.863(E) Dated 02.12.2014. Scheme will be governed by ‘Sukanya Samriddhi Account Rules, 2014

The account under this scheme a saving account can be opened by the parent or legal guardian of a girl child of less than 10 years of age (born on or after: 02-December-2003; For FY 2014-15) with a minimum deposit of 1,000/- in any post office or authorised branches of commercial bank

Partial withdrawal up to 50 % of the account balance is allowed to meet education expenses of the girl child till she attains 18 years of age

The account will remain operative for 21 years from the date of opening of the account or till marriage of the girl child

Under the scheme, an interest of 9.1% is provided on deposited amount which is tax free

Features

• Per girl child only single account is allowed. Parents can open this account for maximum two girl child. In case of twins this facility will be extended to third child
• Minimum deposit amount for this account is 1,000/- and maximum is ₹ 1,50,000/- per year
• Money to be deposited for 14 years in this account.
• Interest rate for this account is 9.1% per annum, calculated on yearly basis ,Yearly compounded.
• Passbook facility is available with Sukanya Samriddhi account.
• From FY 2015-16 the interest earned on account will be tax exempted. As per Finance Bill 2015-16.

Document required for opening Sukanya Samriddhi account:-

• Birth certificate of girl child
• Address proof
• Identity proof