Sukhanya Samriddhi Yojana

 

Sukhanya Samriddhi Yojana (Small Saving Scheme). With the birth of a girl child comes great responsibility on the parents. Investing on education and marrying the girl with an additional investment on the wedding and dowry has become a burden for many, one of the primary reasons of increased female feticide.

With the world heading towards advancements, India is still trying to buck up and provide benefits to the people especially the most ignored species, the GIRLS. However, to empower the girl child, Prime Minister Narendra Modi launched a small deposit scheme this year specially aimed at the higher education and/or marriage needs. This scheme is launched as a part of the “Beti Bachao Beti Padao” Yojana.

Sukhanya Samriddhi Account

This is an effort put in best to secure the future of the girl child, moreover, educatingthe parents to save the girl child due to the relaxed responsibilities.  This in turn will address the issue of gender imbalance, especially in the rural parts of India,being the toughest area to deal with. A lot of effort still has to be done in such areas for better practical results.

Opening Of the Sukhanya Samriddhi Account :

  • This account may be opened by the birth parents or by the guardian in the name of the girl until she attains the age of 10.
  • The account can be opened in authorized bank branches or even in the post offices.
  • Only one account is allowed for a girl child.
  • The parents/ legal guardian cannot open more than two accounts i.e., maximum of two children.
  • In cases where the parent delivers triplets or twins, this facility can be extended, provided, they submit the relevant medical certificates.
  • While opening the account, birth certificate of the girl child and residence proof of the account depositor should also be submitted.
  • NRIs cannot open this account.

Interest Rate in Sukhanya Samriddhi Account:

Every year interest rate will be declared. For the year 2014-15, government has declared paying 9.1 per cent interest.  Please click on this link to check current interest Rate.

Deposits:

With an initial and minimum investment of Rs.1000/- this account can be opened. Thereafter any amount in multiples of Rs.100 can be deposited.  Maximum of Rs 1.5 lakh can be deposited in one financial year. Deposits can be made till completion of 14 years from the date of opening the account.

Maturity:

The account remains operative for 21 years from opening or till marriage of the girl child after reaching the age of 18, whichever is earlier.

Withdrawal or Closure:

Once the girl child attains the age of 18, 50% of the money can be withdrawn for the girl’s higher studies. The account cannot be withdrawn until the age of 18, to prevent any system of early marriage. However the account can be closed in case of maturity or at the death of girl child. For some reason, if the depositor is not able to continue, power of relaxation does exist.

Penalty:

If in a financial year, the minimum amount has not been deposited, the account stands inactive. A fine of Rs.50 per year has to be deposited to re-active the account.

Transfer of Account:

Sukanya Samriddhi account can be transferred anywhere across India, if there is a change of city or locality of the girl child.

Tax Benefits:

Details related to Tax were much unclear before launch of the budget 2014-15. Now, after announcement of the budget, the parents and guardians are much relaxed. Tax under 80C of the Income Tax Act is deductible up to Rs.1.5 lakhs. In fact, not only the principal investment, but also the interest that the account earns would be tax exempted. Such a relief for the depositors!

Added advantage is that, the amount after maturity would also be tax free, whether the amount is withdrawn after 18 years or 21 years or any time later too.

While there are many benefits associated with the scheme, the sad part is that even after 2 months of the launch of Sukhanya Samriddhi Yojana, banks are still clueless of the guidelines. Private Banks are equally unaware. This is from news reported last week in The Economic Times.

The situation is intense for those whose girl child is almost nearing the said age of 10 as the scheme allows investments for only 14 years and matures at the age of 21.Hence quick and widespread awareness has to take place.

This is a no doubt, a phenomenal step for the future of the every child and a relief to the parents as well, flexible, secure and completely tax free.

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  43 Responses to “Sukhanya Samriddhi Yojana”

  1. I want to open a account in the name of srijita Banerjee daughter of me age3 year.this scheme is very attractive scheme for girl child.I thanks to our p.m .narendra modi ji ,the first p.m of India who is think for girl child of India.Thanks to modi ji

  2. A good & effective initiative taken by the GOVT.OF INDIA..

  3. Very good scheme of SSA

  4. its a better idea of girls protection taken by government.

  5. Its nice scheme for a girl child. I Thanks our PM modiji for bringing this schemes.

  6. This is a wonderful scheme but only problem for this being a big hit is the tax rebate is under 80C instead this should be a direct deduction from your taxable income. Any such change in the Scheme with get wide spread popularity and will attract more people into the scheme , indirectly securing amount for their girl child

  7. Still now, none of the Banks are didn’t willing to start this Sukhanya Samriddhi Account . How can I start this account through bank. All Banks are telling they didn’t receive any information about this account.

  8. Account should continue even after 21yrs of age till marriage date.

  9. Sir, Please tel me i am deposits minimum deposit Rs.per year in sukanyna samriddhi scheme for girl.

    Thanks & Regards

    Rajeev jain

    • minimum deposit per year in sukanya samriddhi scheme is Rs 1000.

      • My daughter was born in uae. However holds an indian passport n citizenship. She also been registered by the Indian consulate as indian in the register of birth at the consulate. The birth certificate given is by ministry of dubai. Can i still apply for this scheme ?

  10. Can we open this accnt in any month???

  11. i want this scheame for my 6 year old daughter

  12. Really this could be think only by a big heart having person and He is only our great prime minister shree NARENDRA MODI G…THANKS TO MODI G FOR THIS GREAT SCHEME.

  13. Is yojna Ki requirement bahut bahut pahle se thi….now it’s done…ab koi bhi garib insan ke GHAR par BETI ke janm ke samay Dukhi ya pareshan nahi hoga..

  14. this is attractive scheme . i thanks for govt. of india.
    i want open an account. i have a girl child of 3 years.

  15. How can we open sukanya Samriddhi Account in SBI?

  16. How can we open sukanya Samriddhi Account in SBI?

  17. This is a benificial for all account holder.if thier parent /depositer being death by any reason. can this yojna carry forward up to the mautrity and all benefit given tochildren up to year 18 or at the time of marraige.
    please intimate

  18. My daughter is now 9 years old so how long I have to pay and how much I ll getcat the maturity age 21st.and deposit amount is 1000 and monthly 100..only or I can pay more?

  19. Scheme is wonderful bankers are not cooperated.
    And rate of interest is announced every year what it means.

  20. I am open a account for my daughter but intial name was wrong printed how will change

  21. Hi there
    My daughter is born in New Zealand but got a Indian passport. Can we open an SSA for her. She got a NZ birth certificate pls can you let us know

    Thanks

  22. By bank mistake , pan of grandfather was entered instead of girl’s father in her SSY account . Now bank manager says that it can not be changed. Can it be closed and another new account is opened,

  23. Can I open sukanya samriddhi account for my sister daughter?

  24. Modiji’s thinking is really great !!!!

  25. Modiji’s thinking is really great.Can I open sukanya samriddhi account for my daughter.

  26. Sir,
    I want to open ss account for my daughter.Now my daughter is 9years old. Can I open sukanya samriddi account?.how many years will it be complet.

  27. i want open my daughter account in sukanya samridhi.may i know is minimum 1.5lac.is every year or one time for 14 years .also i want know i am living in china ,my wife & my daughter live in india,my wife can open my daughter account.she have my daughter birth certificate,my wife adhar card,passport & my voter id & license.this document can open account.
    please advise me full details.

    thanks & best regards

  28. If suppose I am not able to depposit on regular basis due to death or financialy condition and want to stop in middle then is it possible? or can I or my spouse get that deposited amout with interest? pls suggest me?

  29. Is there online facelity.inthis scheme to follow my daughter’s account there is any application or website ID pl

  30. I opened sukanya samridhi yojna monthly Rs 1000 can i excess this amount

  31. Good for middle family’s modi sir thinking good sir any thing some more benefits for children’s please requesting save the children’s sir give some more opportunities for children’s and thank u modi sir jai hind jai BJP jai Modi sir.

  32. Hi Support Team of Sukanyasamriddhiaccount

    Kindly advise on below query?
    I am not NRI but on temporary work visit at New Zealand. Am I eligible to open SSA for my born Daughter in New Zealand? She has New Zealand birth certificate not citizenship. Both of parent also Indian Citizen. Her Indian Passport application is in the process

    Thanks & regards
    VK

  33. I have opened the sukanya samriddhi account in SBI.. can I get it transferred in HDFC .

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