Girls are considered to be a gift of God in all families across the world. However, the fate of girl child in most part of rural India has always been a concern both for the society as well as the governments at center and state level.
Schemes like Sukanya Samriddhi Yojana are definitely a relief to the parents and guardians of girl child. If you are middle or low income group citizen residing in India and having a girl child below 10 year of age, Sukanya Samriddhi Scheme would well be a wonderful medium to get multiple benefits including:
- Small saving scheme for financial security of your girl child
- Secure growth of money at a handsome rate of interest
- Full exemption from income tax under section 80C
These schemes comes straight from the Government of India under the latest Union Budget with an aim of providing a relief to the parents and legal guardians of a girl child and therefore passively help to reduce cases of female feticide and gender discrimination in the country.
The scheme is on a Pan-India basis and any guardian or parent of a girl who is below 10 years can get an account opened under the scheme. The account holder of the scheme would be the girl child and not the parent or the guardian. That means the maturity and benefits of the scheme and account would directly be given to the girl child and not to anyone else.
In order to ensure proper convenience to the depositor and guardians, the account can be transferred from one place in India to another if the parents or guardians of the parents move to the new location.
The account is fully transferrable under following circumstances:
- If the parents/legal guardian/depositor of the girl child/account holder move to a different location
- If the girl moves to a different location due to profession or higher studies and wishes to operate the account herself.
The process of transfer of the account would be more or less the same as that of a normal saving account. The following documents/details would be required for transferring the account:
- Residential proof of the new address where the depositor/account holder has shifted
- Identity proof of the depositor/account holder for the purpose of authentication of the account
Since the scheme is a fairly new scheme, not much details of the scheme are available at micro level. Moreover, the Sukanya Samriddhi Scheme Interest rate would depend on the union budget every year and hence, we hope that there would be new features and conveniences added every year for the benefit of the common masses.
Sukanya Samriddhi Scheme is an excellent saving scheme for your girl child if you are looking for both a medium to secure your girl’s future and save taxes at the same time. There is no minimum of maximum number of deposits you can make in Sukanya Samriddhi Account and this simply means that you can save whatever you can afford.
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