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September 13, 2015

Important Details you should know about Sukanya Samriddhi Account

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Sukanya Samriddhi Account - New Saving Scheme for Girl Child

  • Sukanya Samriddhi Account (Girl Child Prosperity Account) is a Government of India backed saving scheme targeted at the parents of girl children.
  • It is a welcome step by the Indian Government which is a part of its  “Beti Bachao  - Beti Padhao” initiative.
  • Sukanya Samriddhi Account was launched by Prime Minister Narendra Modi on 22nd January 2015.
  • It is a  small savings scheme.
  • The account can be opened by the parents or a legal guardian of a girl child in any post office or authorized branches of some of the commercial banks.
  • The age of the girl at the time of opening of account should not be more than 10 years.
  • One year relaxation available this year.
  • Minimum deposit amount is 1000 and maximum amount is 150000 per annum.
  • Money must be deposited for 14 years.
  • Amount can be deposited in cash or cheque.
  • Initially, the interest rate was set at 9.1% per annum but later revised to 9.25 in late March 2015
  • Maturity date is 21 years from the date of opening or date of marriage of girl child whichever is earlier.
  • 50% withdrawal can be made for higher studies of girl child after her age of 18 years.
  • Account shall be closed premature in the case of death of Girl Child.
  • Within 2 months of launch, 1,80,000 accounts had been opened under the scheme.
  • Karnataka, Tamil Nadu and Andhra Pradesh reported highest number of new accounts.
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