Prime minister Sukanya Samriddhi scheme is a savings scheme. This scheme proved itself a boon for those families which makes small savings for the future of their girl child. This scheme was started under the Beti Bachao Beti padhao campaign. This scheme gave parents a chance for providing a definite amount to their children in the future.
Sukanya samriddhi scheme
Sukanya samriddhi scheme was started on 22nd January 2015. Under this scheme, parents and legal guardians can open bank accounts for savings in the name of their girl child. In this scheme, you can open a savings bank account in any bank or post office. But parents and guardians can operate this account till their daughter turns 18 years.
Eligibility for sukanya samriddhi scheme
- Anyone can open an account under this scheme whose daughters are under 10 years of age. Parents whose daughters are more than 10 years cannot open a savings account under this scheme. Any NRI also cannot be a part of this scheme.
- If a girl child’s account was opened under this scheme and after that, she turned into an NRI then she has to quit this scheme. In this scheme, a family’s only two daughters can get the benefit of this scheme.
- And if a family has twin daughters then they will be counted as one and their family’s third daughter will also get the benefit of this scheme.
Necessary Documents for Sukanya Samridhhi Scheme
- Documents that are necessary for opening an account under this scheme are given below
- Girl child’s birth certificate
- Proof for a residential address like aadhar card, voter id card, rashan card, passport, electricity bill, and other documents.
- Pan card and high school’s mark sheet is also used for opening an account.
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The necessary amount for opening an account in this Scheme
Rupees 250 is the minimum amount for opening an account under this scheme and this amount is also the minimum amount that can be deposited in the savings bank account of this scheme. 1.5 lakh is the maximum amount that can be deposited in this scheme’s account at a time.
What is the time period of an account under this Scheme ?
The time period of an account opened under sukanya samriddhi scheme is 21 years age of girl to whom the account belongs or after the age of 18 years if girl’s marriage happened then savings account which is opened under sukanya samridhhi scheme will be deactivated.
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The interest rate for Sukanya Samriddhi Scheme Accounts
The government makes changes in the interest rate for sukanya samriddhi scheme accounts after every year. The interest rate in the first financial year of this scheme was 9.1% whereas this was 7.6% in the year 2020.
Things about Sukanya Samriddhi Yojana that you need to know
- If the parents are unable to deposit the minimum required amount of Rs 250, then the account will be considered inactive, and to activate it again, it will have to deposit Rs 250 as well as Rs 50 as a penalty.
- If a girl is 18 years of age and above and withdraws the amount before the maturity of the account, then she will be able to withdraw only 50% of the total deposit.
- The amount deposited under Sukanya Samriddhi Yojana is tax-free under Section 80C of the Income Tax Act.
- Accounts opened under this scheme can be transferred anywhere across the country, just you have to provide proof of shift, you will have to pay fees for transfer in the absence of proof which is 100 rupees.
- If an account holder dies under this scheme, then the account of this scheme will be easily closed by giving a death certificate. And the amount deposited in the account is returned to the parents along with interest.
- Another reason for the account can be closed before maturity is that if the depositor is not able to deposit the amount or it is having difficulty then the account can be closed.
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Pradhan Mantri Sukanya Samriddhi Yojana is part of the Beti Bachao Beti Padhao campaign run by the Prime Minister. This scheme will not only cherish the future of daughters but will also provide them an easy way to move forward. If you like this post, then you should share it with others. And if you have some suggestions, you can comment.
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