Sukanya Samriddhi Yojana: Saviour for the Girl Child Born in our country

For the urban and the rural people who prefer a great future for their daughters can now easily fulfil their dreams. The beginning of the “Sukanya Samriddhi Yojana” will allow the parents/guardian of the girl child to open an account for girls who are 10 years or above. The last date to open and complete the formalities to open this account is 31st July 2020. For those who could not open it earlier owing to the Corona Virus situation, the dates has been revised to 31st July 2020. This is a golden opportunity for those who prefer to give their daughters a wonderful and educated future.

What is the Sukanya Samriddhi Yojana”?

Sukanya Samriddhi Account is a deposit scheme in which one can deposit account opening amount in the name of daughter. Also, in the income tax section 80C, it gets a tax of 1.5 lakh rupees and there is no tax on interest. Apart from this, 50% of the amount can be withdrawn even if the child is 18 years old.

This benefit will be available on account opening The Postal Department has also issued new guidelines regarding opening of account, in which it has been told how long the account opening period is and what benefits will come from it. According to the notification, girls who have completed 10 years of age from 25 March to 30 June 2020 can open their account.

How much will be the interest in the Sukanya Samriddhi Yojana?

7.6% annual interest will be given on opening of account under Sukanya Samriddhi Yojana. Explained in this scheme is that the interest will be given on opening the account, at the same rate, interest is paid on the entire investment.

How much can I deposit?

You can deposit at least Rs 250 and maximum Rs 1.50 lakh in the account. For those who can access online banking, this account can be operated online too so owing to current pandemic situation one can easily complete the formalities.

Benefits of investment in the Sukanya Samriddhi Yojana

Savings done at any time certainly reap a lot of benefits. Needless to say, our Indian system however gradually it may be changing, still reflects upon the need of money for the daughter’s wedding and education. This account can be used for those who wish to garner financial virtues in their daughter’s name for either education or marriage. You can open this account in a post office or government bank.

When can I withdraw money?

Each parent can open an account in the name of only 2 daughters. Parents can invest for 14 years and after 21 years, full amount will be available on maturity. At the same time, according to the new rules, the account can be closed in case of the death of the girl or the death of the guardian. Whereas earlier the account was closed only after the death of the girl or change of residence.

For more information you can visit

http://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=89

If you want to open an account for  Sukanya Smriddhi Yojna through SBI Banks

If you want to open in SBI you can visit https://www.sbi.co.in/web/personal-banking/investments-deposits/govt-schemes/sukanya-samriddhi-yojana

If you want to open an account for  Sukanya Smriddhi Yojna through ICICI Banks

https://www.icicibank.com/Hindi/Personal-Banking/investments/sukanya-samriddhi-yojana-account/index.html

If you want to open an account for  Sukanya Smriddhi Yojna through Axis Banks

https://www.axisbank.com/retail/accounts/sukanya-samriddhi-account/features-and-benefits

If you want to open an account for  Sukanya Smriddhi Yojna through HDFC Banks

https://www.hdfcbank.com/personal/save/accounts/sukanya-samridhi-account

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