Sukanya Samriddhi Scheme: Open this account to your daughter, get up to 70 lakhs

There should be many children in the house, but most of them should be male. Because female children will always go to another house, the lament is in the mind of parents. Sukanya Samriddhi Scheme: Open this account to your daughter, get up to 70 lakhs.

But, times have changed now. Parents feel safer if there are girls than boys. Lot of money is spent on a girl’s marriage or education. So it is very difficult to save money. That is why many people always see a girl child as a burden. To change this situation, the Narendra Modi government has launched a special scheme since 2014.

Special project implemented in 2014:

A girl child should not be a burden and should save the cost of her education and marriage. This project is considered as an ambitious project of the Narendra Modi government. You can invest Rs 250 in this scheme in your daughter’s name. You should invest as much money as you can put away every month.

Government will give 7.1% interest:

The government also provides 7.1% interest for this scheme. Apart from this, the government has also given tax exemption to those who invest in the scheme. The main objective of this project is to educate the girl child and make them stand on their own feet. By the way, you can avail this scheme by going to post office or any nearby bank.

It aims to promote the welfare of the girl child. A legal guardian can open an account in the name of a girl child from the time of her birth till she completes ten years. Who can open the account: The natural/legal guardian can open the account in the name of the girl child from the date of her birth till she attains the age of 10 years.

Maximum Number of Accounts: Three in case of second birth of two girls or twin girls or three in case of first birth of triple girls. Minimum and Maximum Amount of Deposit: Minimum of Rs.250 as initial deposit and in multiples of Rs.100 to an annual maximum of Rs.1,50,000 per financial year.

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Deposit Period: 21 years from the date of account opening. Maximum tenure of deposit: 15 years from the date of account opening.

Interest on Deposit: The interest rate is announced by the Government of India on a quarterly basis.

Tax Exemption: Applicable under Section 80C of the Income Tax Act, 1961.

Account Closure: Allowed in case of medical assistance for terminal illness after death of depositor or on compassionate grounds authorized by order of Central Government.

Irregular Payment / Account Revival: Payment of penalty of Rs.50/- per annum with minimum fixed amount

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Mode of Deposit: Cash/Cheque/Demand Draft

Withdrawal: 50% of account balance at the end of previous financial year for marriage, higher education after 18 years of age.