Sukanya Samridhi Yojna was launched by NDA government on 22 January 2015 to promote savings habits and to ensure the future of girl child. While launching the scheme as a part of ' Beti bachao, beti padhao' campaign prime minister Narendra Modi said that it will promote saving habits to meet educational and marriage expenses of girl child. It was one of the most ambitious plan of Narendra Modi government to benefit middle class and to make them financially stable. Lets know the important points in respect of Sukanya Samridhi Yojna.
1. Who is eligible to open Sukanya Samridhi Yojna : Any person who meet basic documentation criteria can open Sukanya Samridhi Yojna Account with any commercial bank or post office. Maximum account that can be opened by a person is for their two girl children.
2. Documents required: To open Sukanya Samridhi Yojna Account you should fulfill basic documentation criteria. You should have the following documents. Identity proof ( Pan Card, Voter Id, Ration Card or any legal document accepted by government as an identity proof), residence proof ( Voter id, ration card, passport, Aadhar card or any legal document accepted by government as a residence proof), date of birth proof( birth certificate or aadhar card of girl child).
3. Where to open: Government has authorised all the scheduled banks, commercial banks and post office to open sukanya samridhi account. So you can open sukanya samridhi yojna account with any bank or post office as per your convenience.
4. Interest rate: Rate of interest is not fixed on sukanya samridhi yojna account. It is changeable and decided by government of India for each financial year.When it was launched rate of interest was 9.1% (2014-15) then it was revised to 9.2% (2015-16), 8.6% (2016-17 first half), 8.5% ( 2016-17 second half), 8.4% (2017-18 first half), 8.3% (2017-18 second half). Currently for the year 2018-19 rate of interest is fixed at 8.5%.
5. Tax benefit: Sukanya samridhi yojna has triple tax benefit under the provisions of 80 C of income tax act. It simple means contribution amount (subject to a maximum of ₹ 1,50,000 in a financial year), interest and maturity sum will be exempted from tax.
6. Minimum and maximum deposit: A minimum of ₹ 1,000 and maximum of ₹ 1,50,000 can be deposited in a sukanya samridhi yojna account in a financial year in multiples of ₹ 100.
7. Account transfer: Sukanya samridhi yojna account can be easily transferred from one branch to another branch even from one bank bank to another bank or post office. For the purpose you just need to write an application to concerned branch to account transfer stating reason.
8. Maturity period: Sukanya samridhi yojna is opened for 21 years. Means sum get matured when girl child attains the age of 21 years. There is no minimum age limit for account opening.
9. Partial withdrawal: There is no provision of partial withdrawal before maturity. 50% amount can be withdrawn when girl child attains the age of 18 years for higher education. In case of marriage before 21 years (not before 18 years) full amount can be withdrawn.
10. Penalty: Sukanya samridhi yojna doesn't become inactive even when no minimum amount is paid in a year but a penalty of ₹ 50 per year is charged in case no minimum payment is made during the year.
How to open- To open a sukanya samridhi yojna account just visit to your nearest bank branch or post office with identity proof, resident proof and date of birth proof of girl child, a passport size photo of yours and girl child. Make a request to open sukanya samridhi yojna account with branch. Branch will give a form, just fill it and deposit the form alongwith documents and a minimum of ₹ 100.