Important Details you should know about Sukanya Samriddhi Account

September 13, 2015 Share Like Labels: gr8

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.