Sukanya Samriddhi Yojana - Summary
Introduction to Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana is a fantastic savings scheme for a girl child in India, helping families secure a bright future. Accounts under this scheme can be opened until the girl child reaches 10 years of age.
Key Features of the Scheme
- Only one account can be opened in the name of a girl child.
- Accounts can be opened at post offices and branches of authorized banks across India.
- You must submit the birth certificate of the girl child when opening the account.
- You can start the account with a minimum of Rs. 250/-, and thereafter any amount in multiples of Rs. 100/- can be deposited. Remember, you must deposit at least Rs. 250/- every financial year.
- The maximum amount that can be deposited in a financial year is Rs. 1,50,000/-.
- The interest rate, as notified by the government from time to time, will be calculated on a yearly compounded basis and credited to the account.
- One withdrawal is allowed when the account holder turns 18 years old, allowing up to 50% of the balance from the previous financial year to meet education expenses.
- The account is transferable anywhere in India, from one post office or bank to another.
- The account matures after 21 years from the date of opening or upon the marriage of the account holder, whichever occurs first.
To learn more and access the necessary forms, feel free to download the Sukanya Samriddhi Yojana Application Form in PDF format.