All information about "Sukanya Samridhi Yojna" |

Today in this blog, we are discussing about Sukanya Samridhi Yojna

Who can Open Account:

A legal Guardian/Natural Guardian can open A/c in the name of their Girl Child.

A guardian can open only 1 A/c in the name of one girl child and maximum 2 A/cs in the name of two different Girl childs.

A/c can be opened up to age of 10 years from the date of birth.

Online Deposit facility is available through Netbanking and IPPB Saving Account.

Deposit Amount:

In a financial year, minimum ₹ 25​0/- and Maximum ₹ 1,50,000/-. 

Subsequent deposit in multiple of INR 50/- 

Deposits can be made in lump-sum.

You can deposits number of times in A/c because there is no limit on number of deposits either in a month or in a Financial year

Penalty for Non-deposit:

If minimum Rs 25​0/- is not deposited in a financial year, account will become discontinued & can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year.

Duration of Account:

Deposits may be made in the account till the completion of 15 years from the date of opening of the account.

Withdrawal from Account:

After Account holder’s attaining age of 18 years, maximum up to 50% of balance standing at the end of the preceding financial year can be taken.

Interest:

With effect from 01-04-2020, Rate of interest 7.6​​% p.a., with Yearly compounded.

Account Closure:

A/c can be closed after completion of 21 years.

On the occasion of marriage and after completion of 18, years 'Normal Premature closure' will be allowed.

In such case, A/c can be closed 1 month before and 3 month from date of marriage.

Disclaimer: 

The above article is meant for informational purpose only and does not purport to be advice or opinion, legal or otherwise, whatsoever. While due care has been taken during the compilation of this article to ensure that the information is accurate to the best of our knowledge and belief, the contents of such article do not substitute for professional advice that may be required. The individual expressly disclaims all and any liability to any person who has read this document or otherwise, in respect of anything, and of consequences of anything done, or omitted to be done by any such person in reliance upon the contents of this article.