Sukanya Samriddhi Account
Acknowledge The Features And Eligibility Of Sukanya Samriddhi Yojana
Sukanya samriddhi account yojana was initiated by our Prime Minister Narendra Modi. It was initiated on 21st January 2015 in the campaign named beti bachao and beti padhao. The yojana was started to provide the girl child with her education expenses.
Features of sukanya samriddhi account
The rate of interest for SSY will be 9.2% each year and the rates may differ with every year’s financial budget.
The legal guardians and parents of the child will be able to open the account form any post office or banks under RBI. The initial amount to deposit is Rs 1000 and more if you can afford.
Rs 100 can be given as many times as you want till the grossing of Rs 150000 per year.
Only a girl child is eligible for opening an account across the banks and post offices. Of all maximum two girl child from a parent can be covered in this scheme.
A minimum of 1000 Rs is to be submitted every year in any circumstances if this doesn’t happens the account can be discontinued.
Benefits of sukanya samriddhi scheme
There are a lot of benefits of this scheme. Some of them are as follows:
It has the highest rate of interest among all saving schemes that are offered by the government of India. The interest rate that it offers is 9.2%. It is said to be the highest of all saving schemes. The interest rate for this scheme is purely based on market linked.
The scheme is tax free. This benefit was given by the govt to encourage maximum people to open the account.
The best benefit is that the maturity of the account will be 21 years after opening the account or marriage of the child.
How to open sukanya samriddhi account:
You just have to walk in to your nearest bank meet the official person for opening of the account. Later you have to fill the credentials of the girl child such as name, place, date of birth along with the address proof the legal parents. You have to handover the following documents and deposit minimum of 1000 Rs to the bank and get the passbook.
Interest rate on sukanya samriddhi account:
The interest rate for the scheme for the year 2016 and 2017 was set to be 8.6%. But when it started it was 9.2%. The government of India has decided to make the rate of interest lucrative for the parents and pour in more for the security of the girl children. However the rate of interest is not permanent and can change every year based on market factors. But seeing the noble causes of the scheme people are sure it will continue to fetch bigger interest rates than all other saving schemes.
Eligibility criteria for opening sukanya samriddhi account:
First criteria include the gender of the baby. For this scheme the account can be opened only for a girl child. The second criteria include the age. The age of the girl child at the time of account opening should be 10 years. The age will be determined by the birth certificate. The third is the nationality of the child. The child should be Indian.
Documents that are required to open sukanya samriddhi account:
Certificate of birth of the girl child.
Document of address from the parents or guardians.
ID proofs of parents and guardians of the child.
Following are the features and eligibility of opening the sukanya samrdiddhi account. This will surely help parents in raising their girl child.
