Know About Sukanya Samriddhi Yojna, Features, Rate of Interest & More

Sukanya Samriddhi Yojna is a small deposit scheme for girl child, The scheme was launched by Prime Minister Narendra modi on 22 January 2015 as a part of the ‘Beti Bachao Beti Padhao’ campaign. The scheme is meant to meet the education and marriage expenses of a girl child.

The accounts can be opened at any India Post office or a branch of some authorized commercial banks. Customers can open the account by submitting account opening documents at any Bank. The account will be opened in one of the 42 designated branches. Minimum Age for opening account 0 years , new born or infants can be included in this scheme. Maximum Age for opening account should not be more than 10 years of age at the time of opening the account.

The features for this scheme includes attractive interest rate of 8.1%.Interest rate are regulated by Ministry of Finance. In Sukanya Samriddhi Account, at least of one thousand rupees has to be deposited each year and the upper limit is Rs. 1.5 lakh The account shall mature on completion of 21 years from the date of opening of the account. The Guardian can open only two sukanya samriddhi account under the Rules with any bank or post office. However, Guardian can open third sukanya samriddhi account under the Rules if the second birth is of twin girls or first birth is of triplets.

Non Resident Indians are not eligible for opening a Sukanya Samriddhi account for their daughters. This is the status of the scheme as of now. The Budget 2015-16 has brought good news for families with girl children, returns from the Sukanya Samriddhi scheme will be fully exempt from income tax. This makes it the only other instrument under Section 80C.

The Sukanya Samriddhi account holder can withdraw up to 50% of the total savings for fulfilling the purpose of marriage or higher education of his/her girl child. The Sukanya Samriddhi account allows partial withdrawal only after the girl reaches the age of 18.Following are the 3 documents required to open sukanya samriddhi account

Birth Certificate of the Girl Child having Name on it.

Identity Proof of the Parent or Legal Guardian.

Address Proof of the Parent or Legal Guardian


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