Sukanya Samriddhi Yojna is a wonderful scheme for girl child. As we know in India the most people feel that the girls are burden on them. It is very bad thinking of the society.It is beautiful gift of God and one has to accept it with great regard. One must know that after she attains the age of maturity, helps in growing the next generation. On one side, we worship so many Goddesses who are also woman and other side we do not become happy when a girl child takes the birth. Most of the people do not pay so much attention towards the education of the girls because they feel that one day they have to spend plenty of money on the occasion of her marriage. But, it is wrong. You give proper education to your daughter and even, you do not have money she will manage herself and will help you also. So, do not ignore any girl child.
As I told you that this is the beautiful gift of God, one has to respect this gift with a great heart. Our beloved Prime Minister Shri Narender Modi Ji, introduced Sukanya Samriddhi Yojna on 02.12.1914 for the welfare of girl child. This is basically a saving scheme. Under this scheme the guardian of the girl child can open an account ‘namely Suknya Samriddhi Yojna for planning of her education and her marriage. This scheme helps very much to prove Beti Padhao and Beti Bachao Abhiyan.
Benefits of Sukanya Samriddhi Yojna
- Saving for Future of Girl Child:– Sufficient amount will be available for education and marriage of a girl child.
- Income Tax Saving:– Deduction up to Rs. 1,50,000/= is available to the guardian from the income during a financial year.
- Tax Free Interest:- The Interest received on deposits under this scheme is not taxable.
- Rate of Interest:– Rate of interest on deposits under this scheme is comparatively higher than other saving schemes.
- Maturity Amount:- The total amount received at the time of maturity is not taxable. Amount credited in this account along with interest, will be paid to the girl child only. This scheme provides the financial security for girl child and benefit from income tax.
WHEN CAN SUKANYA SAMRIDDHI YOJNA ACCOUNT BE OPENED?
Sukanya Samriddhi Yojna account can be opened at the time of birth of girl child or till she attains the age of 10 year.
WHO CAN OPEN CAN SUKANYA SAMRIDDHI YOJNA ACCOUNT?
Natural guardian or a legal guardian can open Sukanya Samriddhi Yojna account.
IN WHOSE NAME SUKANYA SAMRIDDHI YOJNA ACCOUNT CAN BE OPENED?
Sukanya Samriddhi Yojna account can be opened in name of girl child only.
HOW MUCH AMOUNT CAN BE DEPOSITED IN SUKANYA SAMRIDDHI YOJNA ACCOUNT?
The Sukanya Samriddhi Yojna account can be opened with a minimum amount of Rs.1000/=. Maximum amount up to Rs.1,50,000/= can be deposited in this account in a financial year The amount deposited in this account, should be in multiple of Rs.100/=. It means, during a financial year, minimum deposit amount should be Rs.1000/= and maximum amount of deposit can not be more than Rs.1,50,000/=
The contribution is to be made up to 15 year from the date of opening of this account. After that no amount is to be deposited till maturity of the account. The interest will be credited automatically every year in this account up to completion of 15 years. This interest also will be tax free.
RATE OF INTEREST ON SUKANYA SAMRIDDHI YOJNA ACCOUNT
Rate of interest on Sukanya Samriddhi Yojna account is determined by the Central Government on quarterly basis. Interest for quarter April’19 to June’19 is fixed @ 8.50%.
HOW MANY SUKANYA SAMRIDDHI YOJNA ACCOUNT CAN BE OPENED IN NAME OF SINGLE GIRL CHILD?
Only one Sukanya Samriddhi Yojna account can be opened in name of single girl child.
RULES REGARDING OPENING SUKANYA SAMRIDDHI YOJNA ACCOUNT FOR MORE THAN ONE GIRL CHILD
A natural or legal guardian can open Sukanya Samriddhi Yojna account maximum for two girl children only. Third account can be opened in case of birth of twin girls in second birth or if three girl children are born in first birth. The birth certificates are to be submitted at the time of opening of account in all cases.
WHERE TO OPEN SUKANYA SAMRIDDHI YOJNA ACCOUNT?
Sukanya Samriddhi Yojna account can be opened in any authorize bank or Post Office with all KYC proofs and birth certificate or girl child.
TRANSFER OF SUKANYA SAMRIDDHI YOJNA ACCOUNT
The Sukanya Samriddhi Yojna account can be transferred any where in India.
LOCK IN PERIOD OR MATURITY AND OPERATION RULES OF SUKANYA SAMRIDDHI YOJNA ACCOUNT
The Maturity of Sukanya Samriddhi Yojna account is after 21 years from the date of opening this account or the marriage of child girl whichever is the earlier. But the girl must complete 18 years at the time of marriage. Premature withdrawal is allowed for higher education of girl child or marriage of girl child if she completes 18 year. The amount of premature withdrawal is restricted to 50% of the amount of credited in her account in preceding year.
If the girl child gets married before completing the account period of 21 years from date of opening the account, account holder can not be permitted to operate the account. However, the balance amount in this account will be paid to girl child after completion of this mandatory period of 21 years. For example, an account under this scheme is opened in name of a girl child ion 10.01.2015 and she gets married on 12.5.2034. It means she has completed 18 year of her age but the period of account has not completed 21 years. The amount in this account will be paid after 21 years from the date of opening the account i.e. after 10.01.2036.
The amount in this account will be paid to girl child only.
After attaining the age of 10, the girl child only will authorized to operate this account. However the contribution will be paid by the guardian only.
PREMATURE CLOSURE OF SUKANYA SAMRIDDHI YOJNA ACCOUNT
Premature closure of Sukanya Samriddhi Yojna account can be done in case of death of the girl child. The amount lying in her account on the date of her death will be paid to authorized guardian after producing the death certificate of the account holder and some necessary formalities.
The Sukanya Samriddhi Yojna account can be closed after completion of 5 year in certain circumstances. In this case the interest on deposit will be the rate of interest on saving bank account during that period.
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