Introduction
- What is Sukanya Samriddhi Yojana?
- What are the benefits of Sukanya Samriddhi Yojana?
- Who is eligible for Sukanya Samriddhi Yojana?
- How to open a Sukanya Samriddhi Yojana account?
Features of Sukanya Samriddhi Yojana
- Interest rate
- Tenure
- Deposits
- Withdrawals
- Tax benefits
How to Open a Sukanya Samriddhi Yojana Account
- Documents required
- Steps to open an account
- Online vs offline account opening
- Common mistakes to avoid
Managing a Sukanya Samriddhi Yojana Account
- Depositing money
- Updating account details
- Handling premature withdrawals
- Closing the account
Frequently Asked Questions (FAQs)
- What is the minimum and maximum deposit limit for Sukanya Samriddhi Yojana?
- Can a non-resident Indian (NRI) open a Sukanya Samriddhi Yojana account?
- Can I make partial withdrawals from my Sukanya Samriddhi Yojana account?
- Is the interest earned on Sukanya Samriddhi Yojana account taxable?
- What happens if I miss a deposit in a financial year?
Sukanya Samriddhi Yojana (SSY) is a popular savings scheme launched by the Government of India under the Beti Bachao Beti Padhao campaign. The scheme aims to provide a secure and guaranteed financial future for the girl child in the family. In this article, we will discuss everything you need to know about Sukanya Samriddhi Yojana in Hindi.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a savings scheme for the girl child below the age of 10 years. The scheme aims to encourage parents to save money for their daughter’s education and marriage. The scheme provides an attractive interest rate and tax benefits to the account holder.
What are the benefits of Sukanya Samriddhi Yojana?
The benefits of Sukanya Samriddhi Yojana are:
- High interest rate: The interest rate offered on Sukanya Samriddhi Yojana is higher than most other savings schemes in India.
- Tax benefits: The contributions made towards the scheme are eligible for tax deductions under Section 80C of the Income Tax Act.
- Guaranteed returns: The scheme provides guaranteed returns and is backed by the Government of India.
- Long tenure: The account matures after 21 years from the date of opening or when the girl child gets married after the age of 18 years.
Who is eligible for Sukanya Samriddhi Yojana?
The following are the eligibility criteria for Sukanya Samriddhi Yojana:
- The account can be opened only for a girl child below the age of 10 years.
- A maximum of two accounts can be opened for two girl children in a family.
- The account can be opened by the parents or legal guardians of the girl child.
How to open a Sukanya Samriddhi Yojana account?
To open a Sukanya Samriddhi Yojana account, you need to follow these steps:
- Fill up the account opening form with the required details.
- Attach the necessary documents such as birth certificate, identity proof, and address proof of the girl child and the parent/guardian.
- Submit the form and documents to the nearest post office or bank branch offering the scheme.
- Once the account is opened, you will receive a passbook with the account details.
Features of Sukanya Samriddhi Yojana
Interest rate
The interest rate offered on Sukanya Samriddhi Yojana is revised every quarter by the government. As of April-June 2023, the interest rate is 7.6% per annum.
Tenure
The account matures after 21 years from the date of opening or when the girl child gets married after the age of 18 years. The account can be closed prematurely in case of the death of the account holder.
Deposits
The minimum deposit amount for Sukanya Samriddhi Yojana is Rs. 250, and the maximum is Rs. 1.5 lakh in a financial year. The deposits can be made in multiples of Rs. 100. The deposits can be made until the completion of 15 years from the date of opening.
Withdrawals
Partial withdrawals of up to 50% of the account balance can be made after the girl child attains the age of 18 years for higher education or marriage. The withdrawals can be made only if the account holder has completed 18 years of age and has passed the 10th standard or has completed 12th standard.
Tax benefits
The contributions made towards Sukanya Samriddhi Yojana are eligible for tax deductions under Section 80C of the Income Tax Act. The interest earned and the maturity amount are also tax-free.
How to Open a Sukanya Samriddhi Yojana Account
Documents required
The following documents are required to open a Sukanya Samriddhi Yojana account:
- Birth certificate of the girl child
- Identity proof of the parent/guardian (Aadhaar card, passport, etc.)
- Address proof of the parent/guardian (Aadhaar card, passport, etc.)
Steps to open an account
To open a Sukanya Samriddhi Yojana account, follow these steps:
- Download the account opening form from the official website of the scheme or collect it from the nearest post office/bank branch offering the scheme.
- Fill up the form with the required details and attach the necessary documents.
- Submit the form and documents to the nearest post office or bank branch offering the scheme.
- Make the initial deposit of Rs. 250.
Online vs offline account opening
Sukanya Samriddhi Yojana account can be opened both online and offline. To open an account online, visit the official website of the scheme and follow the instructions. Offline account opening can be done by visiting the nearest post office or bank branch offering the scheme.
Common mistakes to avoid
While opening a Sukanya Samriddhi Yojana account, avoid the following mistakes:
- Providing incorrect details in the application form
- Not submitting the necessary documents
- Not making the initial deposit of Rs. 250
- Opening more than two accounts for two girl children in a family
Managing a Sukanya Samriddhi Yojana Account
Depositing money
The deposits can be made at any post office or bank branch offering the scheme. The deposits can be made through cash, cheque, demand draft, or online transfer.
Updating account details
To update the account details such as address or nominee details, visit the nearest post office or bank branch offering the scheme and submit the necessary documents.
Handling premature withdrawals
To make a premature withdrawal, visit the nearest post office or bank branch offering the scheme and submit the necessary documents. The withdrawal amount will be directly credited to the bank account of the account holder.
Checking account balance
The account balance can be checked online by logging in to the official website of Sukanya Samriddhi Yojana or by visiting the nearest post office or bank branch offering the scheme.
Conclusion
Sukanya Samriddhi Yojana is a government-backed savings scheme that aims to provide financial security to the girl child. The scheme offers an attractive interest rate, tax benefits, and partial withdrawals for higher education or marriage. By opening a Sukanya Samriddhi Yojana account, parents or guardians can secure the future of their girl child and help them achieve their dreams.
FAQs
- Can I open a Sukanya Samriddhi Yojana account for more than two girl children in a family?
- No, only two accounts can be opened for two girl children in a family.
- What is the minimum deposit amount for Sukanya Samriddhi Yojana?
- The minimum deposit amount is Rs. 250.
- What is the maximum deposit amount for Sukanya Samriddhi Yojana?
- The maximum deposit amount is Rs. 1.5 lakh in a financial year.
- Can I make online deposits for Sukanya Samriddhi Yojana?
- Yes, online deposits can be made for Sukanya Samriddhi Yojana.
- What happens if the girl child gets married before the maturity of the account?
- The account can be closed prematurely in case the girl child gets married after the age of 18 years.