Sukanya Samriddhi scheme related all the details are here. Sukanya Samriddhi scheme is an initiative of the Government of India. The scheme has been started for the girl child with the aim to provide a better future. If you are looking for detailed information about the scheme then you should read this article very carefully. This article contains all the significant information related to the scheme including benefits, features, eligibility, the procedure to apply, banks detail, and more relevant information.
Sukanya Samriddhi Scheme
Sukanya Samriddhi Scheme has been started as per section 3A of the government saving promotion act 1873 (5 of 1873). This scheme has been started for the girl child for a better future. Under this scheme parents of the girl, the child can open a Sukanya Samriddhi account for the child who is below 10 years of age. Parents have to deposit 250 rupees every year in this account till the completion of a period of 15 years from the date of opening of the account. The rate of interest provided under the Sukanya Samriddhi account is quite higher than the normal bank account. To get detail information about the account under the Sukanya Samriddhi scheme you have to read the further section of this article.
Highlights Of SSY
- Name of the scheme: Sukanya Samriddhi Scheme
- Launched by: Government of India
- Department: National Savings Institute, Department of Economic Affairs
- Ministry: Ministry of Finance
- Launched for: girls
- Official site: Click Here
Objective Of Sukanya Samriddhi Scheme
The motive of the National Savings Institute, Department of Economic Affairs, Ministry of Finance, and Government of India behind the Sukanya Samriddhi Account Scheme is to offer a means of saving for the girl child in every family. This scheme will secure the future of the girl child. Parents can save a minimum amount of Rs. 250 per annum and a maximum amount of 1.5 lakh per annum in the Sukanya Samriddhi Account.
- Allahabad Bank
- Andhra Bank
- Axis Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- Oriental Bank of Commerce
- Punjab & Sind Bank
- Punjab National Bank
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of India
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
Benefits/ Features of Sukanya Samriddhi Scheme
- This initiative has been start by the National Savings Institute, Department of Economic Affairs, Ministry of Finance, Government of India
- Parents can open the account of a girl child who is below 10 years under this scheme
- Every account holder should have a single account under this scheme
- To open the account parents, have to submit Form-1 along with a birth certificate of the girl child in whose name the account is to be open and documents of the guardian.
- Only two girl children from a family can open an account under this scheme.
- If the birth of a girl child in the first order is a triplet and in second-order twins/ triplet, then more than two accounts may open in a family. To open the accounts, parents have to submit the affidavit supported with birth certificates of the twins/triplets regarding the birth of such multiple girl children in the first two orders of birth in a family.
- Parents have to deposit at least Rs. 250 per annum in the account
- Parents can maximum deposit 1.5 lakh rupees per annum in the account.
- The deposit must for a period of 15 years from the date of opening of a bank account.
- Interest on the amount saved in the bank account under Sukanya Samriddhi Scheme will be of 7.6 percent per annum for the deposit made on or after the 1st day of April 2020.
- The account can operate by the parents till the girl (account holder) attain the age of 18 years.
- Applicant should be parents of girl child
- The account can be open for the first two girl children in the family
- Only two girls from a family can have benefited from Sukanya Samriddhi Scheme
- Only one account per girl is permissible
- The age of the girl should not be more than 10 years
- Parents have to deposit the amount in the account for 15 years from the date of opening of the account
- Account opening form
- Birth certificate of the girl
- Parents documents
- ID proof
- Address proof
- Passport size image etc.
- Another required document as per bank or post office requested
Procedure to open Sukanya Samriddhi Scheme Account
- To open the account, you have to visit the nearest branch of the bank of your choice or post office
- Take the application form from the branch of the Sukanya Samriddhi account
- Fill the form very carefully with significant details
- Attach the copy of the document with the form
- Submit the application to the same bank or post office
- Deposit the amount ranges between Rs.250 and Rs.1 lakh
- Details will verify by the officer of the bank or post office and open the account
Premature closure of the account
- In Case Of Death Of Account Holder
- A bank account under the Sukanya Samriddhi scheme can be closed before the maturity date in case of the death of the account holder.
- To close the account guardians, have to submit Form-2 along with a death certificate issued by the competent authority.
- Balance of the account with interest due thereon till the date of death shall be credited to the guardian.
- For the period between the date of death of the account holder and the date of closure of the account, interest shall be paid at the rate applicable to Savings Account on the amount in the account.
- In Case Of Extreme Compassionate Grounds
- If the account holder is suffering from life-threatening diseases or the guardian of the account holder who is operating the account is dead then the accounts office can close the account after complete documentation establishing the grounds for such closure.
- The amount in the account with interest due as applicable to the Scheme shall be paid to the account holder or guardian if the closer of the account is made after five years from the date of opening of the account.
- Parents can withdraw the amount maximum of up to 50% of the amount in the account by submitting the form for the education of the applicant
- To withdraw the amount it is necessary that the account holder has passed the 10th standard or attend the age of 18 years
- Applicants have to submit the withdrawal application along with the documentary proof of confirmed offer of admission of the account holder in an educational institute or a fee slip from such Institute
- Withdrawal can be made in lump-sum payments or installments not exceeding one per year for a maximum of 5 years.
Closer on Maturity
- The maturity date of the account shall be the date after 21 years from its opening
- The closure of the account can be possible if the account holder is getting married before 21 years and after attaining the age of 18 years
- To close the account applicants have to submit the form to get the outstanding amount along with the interest