One of the most popular schemes launched by the Government of India, whose purpose is to give priority to any kind of place in India where girls are not given any place, thus improving their position is the main objective of this scheme.
The money saved by this scheme is provided for the girl's Higher Education and Marriage Expenses or for expenditure of her illness. This scheme has not only been adopted by the people of the country but has also accepted it as it is a step taken by the Government of India for the benefit of girls, in which girls get financial security.
The way the bank account is open, the account holder is given the passbook, in the same way, on the same day, the Sukanya Samriddhi Account Open is done by a Branch related passbook issue, in which the account holder name, Account Number, Address, Date Of Birth and Account, how much Amount has been deposited is mentioned.
It is required to present passbook, the related branch, when the account is to be deposited in Amount, Interest Receive or when the account is mature and close it.
Features of Sukanya Samridhi Account
This account can be opened by Girl's Natural or Legal Guardian until she is 10 years old from her Birth Date.
Unless the girl turns 10 years old, the account is operated by her guardian, but when the girl turns 10 years old, she herself can operate the account. However, the money in the account can be deposited by its natural or legal guardian or by any other person or any authority.
Only one account can be opened on the name of a girl. Multiple Accounts Open can not be opened in the name of the same girl, and if this is found then heavy penalties are charged.
If the account holder girl marries between 21 years of 18 years of 18 years, then this account closes at the same time.
Minimum 1,000 rupees and maximum 1.5 lakh rupees can be deposited in this scheme in a financial year.
You can deposit Amount in the account as often as you wish in each Financial Year. There is no restriction of any kind on this.
This account can be opened only on the names of two girls. But if any of the twins or three girls are born together, then by introducing the Proof, an account can be opened in the name of everyone.
This account can be opened only for Indian Resident Girls. Therefore, the name of the girl who has been opened in the name of the girl, must be Indian Resident till her age is mature or till the account is closed. If the girl's Citizenship changes during this period, then the account closes from the day the account holder Girl's Citizenship is changed.
If Minimum Amount Deposit is not done in the account in each financial year, then Rs 50 is paid in the form of Penalty.
NRI Girl is not Eligible to invest by opening an account in this scheme.
Birth Certificate is preferred as the main document for opening the Sukanya Samriddhi Account.
Benefits of Sukanya Samriddhi Scheme
Available in Market, compared to other Financial Products, Highest Interest Rate is given on Sukanya Samriddhi Scheme and it can be opened by the Ministry of Finance, in the Banks or Post Office of Authorize Public and Private Sectors.
Tax exempted under Section 80C of the Income Tax Act, 1961, up to Rs 1.5 lakhs invested under this scheme. And not only Investment but also the Total Maturity Amount, which is available at the time of maturity, is Tax Exempted.
If the residence of the Parents / Guardian of the Account Holder changes or the account holder's residence changes, then the account can be transferred from one city to another city in India. Transferring the account in such a way is free of cost but for that you have to submit proof of habitat shift. If you can not submit the proof, then you have to pay 100 rupees to the branch in which you have transferred the account in the bank of the Post Office or Bank.
If CBS (Core Banking Solution) facility is available in the Bank or Post Office, the account can also be transferred to an electronic form.
Deposit can also be deposited by the Deposit Cash Amount, Cheque or Demand Draft. But in the event of a deposit by Cheque or Demand Draft, the day of Cheque or Demand Draft of realization, the same date will be considered as the date of amount deposit. Amount Deposit can also be done in electronic form if the Bank Bank or Post Office is available in the CBS (Core Banking Solution) facility.
This account can be closed only when the girl turns 21 years old. If the girl turns 21 years old or the account is closed, nor the Deposit Amount is withdrawn in the account, then the account Continues Interest Earn.
One of the main advantages of this scheme is that in the name of the girl who has been deposited in the scheme, money can be withdrawn by the same girl. Even if the money depositor in the account, whether it is a parent or a legal guardian, they are not Eligible to withdraw money from the girl. This feature gives women financial freedom for the future.
This account is to be deposited in the account upto 14 years from the date on which it is opened, after 7 years the account is mature.
Premature Closer Consolidation Account
If the account holder dies, the account can be made by premature death by issuing the death certificate, the branch of the respective account holder (whether it is in the bank branch or post office), and also the account closure. Deposit balance in the account is paid to the Guardian of Account Holder by the previous month of account closure.
You can also close Premature Close this account when Central Government realizes that the Guardian's Guardian can no longer continue the account ahead of the account. Now this situation can happen as if the Guardian or the Parents of the Account Holder have any kind of heavy illness or lack of money for medical care.
Rules to Withdraw from Sukanya Samridhi
The Total Amount deposited in this scheme can be taken only when the girl turns 21 years but if the girl becomes 18 years then 50% of the Deposit Total Amount can be Partial Withdraw.
This Withdraw can be done only when the girl wants to do higher education or if the girl has to do Marriage Expenses or if the girl becomes a Serious illness, then all these conditions can be Partial Withdrawal.
Rule for Account Closer
This account can be closed only when the girl turns 21 years old. But you can also make an account in Premature Close in the above mentioned conditions.
Important things related to Sukanya Samriddhi Account
Nomination facility is available in other ways like Post Office's Savings Scheme, Post Office Saving Scheme, Monthly Income Scheme, Recurring Deposit Scheme, Time Deposit Scheme, and Nomination Facility is not available in this scheme in the same way. Therefore, if any of the Guardian or Account Holder Girl has died, the following Criteria should be completed when there is a disability.
- If the account holder girl dies, in such a situation, the account should be closed immediately. When the account is closed in this situation, the deposit made in the account is repayed to the parents or legal guardian who contributed the girl's interest along with earned interest.
- In the event of the death of the parent or legal guardian of the girl who contributed to the account, the available amount of interest in the account is given to the account holder girl or to her family.
- In addition to any situation, Contribution will stop in the account but there will be interest accrue on the Available Amount in the account which can be redeemed on Maturity by Account Holder Girl.
Other Post Office schemes such as Post Office Recurring Deposit, Time Deposit Scheme, etc. have the facility of taking loan instead of account. No such facility is available in this scheme.
It is expected that these posts related to the Sukanya Samriddhi Account have definitely been useful to you and if you have any female children below 10 years of age and invest in other Risky Assets such as Mutual Fund or Stock Market, then your daughter's future Do not have much understanding in terms of financially securing or you do not want to take any risk in the context of your daughter's financial future, this government scheme will be very much for your daughter's financial future. May be useful.
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