Sukanya Samriddhi Scheme – Securing Every Girl Child’s Future

Sukanya Samriddhi Scheme – Securing Every Girl Child Future

Sukanya Samriddhi Scheme is a small saving scheme launched as a part of the ‘Beti Bachao Beti Padhao’ campaign, targeting the parents of any girl child. This scheme focuses on encouraging the parents of the female child for building a fund for their future education and marriage expenses. This scheme was launched by PM Narendra Modi. Beti Bachao Beti Padhao campaign was launched on 22nd January 2015 in Panipat, Haryana.

Benefits under Sukanya Samriddhi Scheme

1. The Sukanya Samriddhi Scheme provided an interest rate of 8.4% w.e.f 1st Oct, 2019).
2. The scheme has been extended Triple exempt benefits i.e. there will be no tax on the amount invested, amount earned as interest and amount withdrawn.

Investment plan of Sukanya Samriddhi Scheme

• Minimum of Rs 250 of initial deposit with multiple of Rs 150 thereafter with annual ceiling of Rs.1,50,000 in a financial year.
• Maximum period upto which deposits can be made 15 years from the date of opening of the account.
• The account shall mature on completion of 21 years from the date of opening of account or on the marriage of Account holder whichever is earlier.
• It is one of the most high-paying investment options in the fixed income segment which provide an interest rate of 8.4%.

Eligibility of Sukanya Samriddhi Scheme

1. Sukanya Samriddhi Account can be opened by the legal guardians of the girl child starting from her birth till she attains the age of ten years whenever they want and there can only be one account per child.
2. The girl child should be less than 10 years at the time of account opening which will be operative till the girl reaches the age of 21 years.
3. Parents can open deposits account for up to 2 daughters aged below 10. Three girl children, in case of twin girls as second birth or the first birth itself results in three girl children.

Documents Required

• The birth certificate of the girl child along with other ID proofs should be submitted to the bank or Post office while opening the account.

The Sukanya Samriddhi Account can be opened at any Post office or at any branch of authorized commercial banks in India.

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