Dear
PaGaLGuY readers,
Recently the government of India has launched, the Sukanya
Samriddhi Yojana, for a better future of girl child in the country. The scheme has been receiving overwhelming response from the parents across the country.
In order to provide more information on this new scheme, we are presenting you this article.
Sukanya
Samriddhi Yojana, is a small deposit scheme for girl child launched
as part of “Beti Bachao Beti Padahao” campaign. The scheme was launched by the
Prime Minister of India Narendra Modi in January 2015, which is specially
designed for girls’ higher education or marriage needs.
The
government of India has increased the rate of interest for the money deposited
under the scheme from 9.1% (2014-15) to
9.2% (2015-16) this financial year. The scheme also offers income tax benefits
under section 80C of the Income Tax Act, 1961.
Opening of
Accounts:
The accounts can be opened at any post office or authorized branches of
commercial banks. In one family, maximum two accounts can be opened for two
girl children. The account can be transferred
anywhere in India from on Post office/Banks to another.
Age Limit: An account
can be opened at any time from the birth of a girl till she attains the age of
10 yrs, which means maximum age limit of the girl child for opening this
account is 10 years. The govt. has given a relaxation of one year for those opening
accounts till December 1, 2015.
What
document required for this scheme?
Documents
required for this scheme are as follows:
1. Birth
Certificate of girl child.
2. Address
proof.
3. Identity
proof.
Minimum & Maximum deposit: The minimum deposit under the scheme is Rs.
1000/- and thereafter any amount in multiple of
Rs. 100. The maximum deposit is Rs. 1.5 lakhs. There is no limit on the
number of investments one can make in an account either in a month or in a year.
Deposit
under the scheme can be made through cash or by cheque or by demand draft.
Interest rate: The government will announce the interest
rate of the scheme every year. However, the government of India has increased the rate of
interest from 9.1% (2014-15) to 9.2%
(2015-16) for this financial year.
Maturity period: The maturity period of the scheme is 21 years from
the date of opening account, though deposited needed to make only for 14 years.
The minimum lock-in in period under Sukanya Samriddhi Yojana is 11 years.
The money in the account can be
fully withdrawn only after the girl turns 21. However, an account holder can
withdraw up to 50 per cent amount at the end of the previous financial year for
the purpose of the girl’s higher education or marriage after she turns 18. If
the money is not withdrawn even after the girl turns 21, it will continue to
earn interest.
PNB become first bank to implement Sukanya
Samriddhi Scheme: The Punjab National Bank has become the first bank
to start opening Sukanya Samriddhi Scheme accounts. According to the bank, the scheme is available at 1,604 PNB branches across India. The Reserve
Bank of India had sent a circular to the heads of all the commercial banks, to implement the operational guidelines of the
Sukanya scheme. Till now no other bank has implement the scheme, except PNB.
Happy reading!