sukanya samriddhi yojana Overview
Sukanya Samriddhi Account ( Girl Child Prosperity Account) is a Government of India backed saving scheme targeted at the parents of girl children. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child.
sukanya samriddhi yojana scheme was launched by Prime Minister Narendra modi on 22 January 2015 as a part of the Beti Bachao, Beti Padhao campaign. The scheme currently provides an interest rate of 8.5% (for October 2017 to December 2017 ) and tax benefits. The account can be opened at any India Post office or branch of authorised commercial banks
sukanya yojana details
Objective: To promote the welfare of Girl Child
Who can open the account: A natural/ legal guardian on behalf of a girl child
Maximum number of accounts: Upto two girl children or three in case of twin girls as second birth or the first birth itself results in three girl children
Minimum and Maximum Amount of Deposit: Min.1000 of initial deposit with multiple of one hundred rupees thereafter with annual ceiling of Rs.150000 in a financial year
Tenure of the Deposit: 21 years from the date of opening of the account
Maximum period upto which deposits can be made: 15 years from the date of opening of the account.
Interest on Deposit: As notified by the GOI, compounded annually with option for monthly interest pay-outs to be calculated on balance in completed thousands.( Current rate 8.60%w.e.f 1st April, 2016)
Tax Rebate: As applicable under section 80C of the IT Act, 1961. In the latest Finance Bill, the scheme has been extended Triple exempt benefits i.e. there will be no tax on the amount invested, amount earned as interest and amount withdrawn.
Premature Closure: Allowed in the event of death of the depositor or in cases of extreme compassionate grounds such as medical support in life threatening diseases to be authorized by an order by the Central Government
Irregular Payment/ Revival of account: By payment of penalty of Rs.50 per year alongwith the minimum specified amount per year
Mode of Deposit: Cash/Cheque/ Demand Draft/ Transfer/ online transfers through internet Banking .
SIP : Standing Instructions can be given either at the Branch or set through Internet Banking for automatic credit to Sukanya Samriddhi Account .
Withdrawal : 50% of the balance lying in the account as at the end of previous financial year for the purpose of higher education, marriage after attaining the age of 18 years.
NOTE: As this is a Govt. of India scheme, customers are advised to visit www.nsiindia.gov.in for latest instructions/ modification in the scheme.
sukanya samriddhi yojana scheme was launched by Prime Minister Narendra modi on 22 January 2015 as a part of the Beti Bachao, Beti Padhao campaign. The scheme currently provides an interest rate of 8.5% (for October 2017 to December 2017 ) and tax benefits. The account can be opened at any India Post office or branch of authorised commercial banks
sukanya yojana details
Objective: To promote the welfare of Girl Child
Who can open the account: A natural/ legal guardian on behalf of a girl child
Maximum number of accounts: Upto two girl children or three in case of twin girls as second birth or the first birth itself results in three girl children
Minimum and Maximum Amount of Deposit: Min.1000 of initial deposit with multiple of one hundred rupees thereafter with annual ceiling of Rs.150000 in a financial year
Tenure of the Deposit: 21 years from the date of opening of the account
Maximum period upto which deposits can be made: 15 years from the date of opening of the account.
Interest on Deposit: As notified by the GOI, compounded annually with option for monthly interest pay-outs to be calculated on balance in completed thousands.( Current rate 8.60%w.e.f 1st April, 2016)
Tax Rebate: As applicable under section 80C of the IT Act, 1961. In the latest Finance Bill, the scheme has been extended Triple exempt benefits i.e. there will be no tax on the amount invested, amount earned as interest and amount withdrawn.
Premature Closure: Allowed in the event of death of the depositor or in cases of extreme compassionate grounds such as medical support in life threatening diseases to be authorized by an order by the Central Government
Irregular Payment/ Revival of account: By payment of penalty of Rs.50 per year alongwith the minimum specified amount per year
Mode of Deposit: Cash/Cheque/ Demand Draft/ Transfer/ online transfers through internet Banking .
SIP : Standing Instructions can be given either at the Branch or set through Internet Banking for automatic credit to Sukanya Samriddhi Account .
Withdrawal : 50% of the balance lying in the account as at the end of previous financial year for the purpose of higher education, marriage after attaining the age of 18 years.
NOTE: As this is a Govt. of India scheme, customers are advised to visit www.nsiindia.gov.in for latest instructions/ modification in the scheme.
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