March 1, 2015

Sukanya Samriddhi Scheme


Yes Bank beats estimates, reports Rs 914 crore Q4 net profitSukanya Samriddhi Scheme launched by Prime Minister Narendra Modi on 22nd Januray 2015 for girl child. Under the Sukanya Samridhi Scheme, an interest @ 9.10 percent per annum is provided on deposited amount, which is tax exempted. This is a small deposit scheme, meant exclusively for a girl child and is launched under Beti Bachao Beti Padhao Campaign. This scheme is available under India Post’s Post Office Savings Scheme, which is specially designed for girl’s higher education or marriage needs.

Features of Sukanya Samriddhi Account:

  • Rate of interest 9.1% Per Annum (2014-15), calculated on yearly basis, yearly compounded.
  • Minimum INR. 1000/-and Maximum INR. 1,50,000/- in a financial year. Subsequent deposit in multiple of INR 100/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year
  • A legal Guardian/Natural Guardian can open account in the name of Girl Child.
  • A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children.
  • Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2/12/2003 &1/12/2004 can open account up-to 1/12/2015.
  • If minimum Rs. 1000/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs. 50/- per year with minimum amount required for deposit for that year.
  • Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years.
  • Account can be closed after completion of 21 years.
  • If account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.
  • Normal Premature closer will be allowed after completion of 18 years /provided that girl is married.

Documents required for opening of Sukanya Samriddhi Account:

  • Birth Certificate of girl child
  • Address Proof
  • Identity Proof


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