Sukanya Samriddhi Yojana | Sukanya Yojna
As we are all aware of the fact that the present government is really concerned about the betterment of women in our society and this is why it has come up with extremely beneficial schemes for the women. The Sukanya Samriddhi Yojana is one of them. The scheme aims to bring betterment for the girl child in our country. This has been launched to save girl child in the family. Since the inception of this scheme, the financial advisors have debated a lot regarding the benefits and relevance of this scheme.
Important details and features
One of the most important steps taken for this scheme is, the banks and post offices will be the facilitator and promoter of this scheme. The public sector banks and post offices have the highest penetration, even in the rural areas. And this is why; they are the best instruments for leveraging this Sukanya Samriddhi scheme. There are a lot of advantages for availing the Sukanya Samriddhi Scheme and they are as follows:
The interest rates are really attractive that offers 8.6% interest. This is more than any of the banks or even post offices undertaken by the central government. The rate will be revised by the finance ministry every year in April. The interest rate last year was as high as 9.2%. Any changes will be communicated to the account holders.
The investment that is made for the Sukanya Samriddhi will be completely tax free under section 80C of Income tax. This was initialized in 1961.
Once the girl child is 18 years old, you can make partial withdrawals for her marriage or if she wants to pursue higher studies. The account shall have to be opened by the parent of the girl, her local guardian and can be operated by them, till se reaches the age of 18.
The Sukanya Samriddhi Scheme can be availed for any girl child who is less than 10 years old. The scheme is transferable deposit scheme and it can be transferred from one bank to another or from post office to a bank in case the family has to shift or relocate from their present address.
Yu can avail only one Sukanya Samriddhi account on the name of one girl child. Multiple accounts are not allowed and if multiple accounts are found on the name of one girl child that will be penalized. 50% of the deposit amount can be withdrawn once the girl child reaches the age of 18 years. A penalty fee of Rs 50 will be charged, if the account is not credited with relevant amount in the due date.
| SL NO | Facts to know | Brief details |
| 1. | Objective | To promote welfare of women |
| 2. | Maximum number of accounts | Up to two girl child, it can be three in case of twins |
| 3. | Maximum and minimum amount | Minimum amount is Rs 1000 for initial deposit and maximum amount is Rs 150000 in a single financial year. |
| 4. | Premature closure | Allowed, in case of death of the depositor or in cases of extreme compassionate grounds like medical support, or life threatening diseases authorized by the central government. |
| 5. | Mode of deposit of amount | Cash, cheque, demand draft, online transfer or net banking. |
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