Friday, August 17, 2018

Steps and Guide to open Account of Sukanya Samriddhi Yojana in SBI

In Last Post i write about Sukanya Samriddhi Yojana, central government schemes to protect girls child future and for women empower and this is for sukanya samriddhi yojana in sbi


Sukanya Samriddhi Yojana in SBI


Sukanya Samriddhi Yojana in sbi,  in terms of investment is one of the known schemes run by government and it really helps to make maximum return

Sukanya Samriddhi Yojana in SBI not only adds the financial security but also when on date of maturity of scheme after 21 years from date of opening account girl will have fund to decorate their life or ensure better future of her, basically Sukanya Samriddhi Yojana in SBI  scheme to target higher education and marriage expenses

This scheme is so popular that 8 millions people open their account of Sukanya Samriddhi Yojana and 1 billion dollar worth amounts in these accounts

Sukanya Samriddhi Yojana in SBI

State bank of india which is the largest and Top 50 banks in world provides each type of products and services like personal, commercial and corporate banking ,saving accounts,loans,credit card and others in banking sector

SBI is also authorize to open Sukanya Samriddhi Yojana account by RBI so if you are the sbi customer or willing to open account of sukanya samriddhi yojana in sbi are allowed

Advantage & Features of Sukanya Samriddhi Yojana in SBI

  • How will account holder - Parent has right to open the account on behalf of girl child, one account per girl, in case if they have twins or two child then two or three accounts are permit able for opening account in a family
  • What about twins child - if they have twins so parents required to submit birth certificate during account opening
  • Age Limit - Age between 3 to 10 years are allowed under this scheme if they above 10 years can't participate in scheme
  • Minimum Deposit Amount Criteria - Minimum deposit in Scheme is RS.250 and Maximum up to RS.1.50 lakhs per year, if user failed to deposit minimum amount within year they will get into penalty of RS.50 and continuity of this can cause account inactive 
  • Tenure of Sukanya Samriddhi Account - Tenure of this account is 21 years from date of opening, after that account holder withdrawal the amount
  • Depositing Time Period - Parents can deposit amount upto 14 years in account after that they cannot deposit anymore according to scheme provision
  • Indian Citizen - Only Indian Citizens are allowed in this scheme NRI are not permit able to takes part in this scheme
  • Account Holding Rights - When girl child become 10 Years old then she become authorize to operate the account herself but before that parent will operate the account
  • Terms for Withdraw the amount - If girl attains 18 years then she can withdrawal the 50% of amount for marriage or education meanings but she have to fill the application for reasoning of withdrawal, or after 21 years from date of opening girl can withdrawal the total amount with interest earned
  • Highest rate of interest - This scheme provide 8.1% interest which is  higher than compare to other banking or government schemes 
  • Tax Benefit - Sukanya Samriddhi Yojana in SBI is tax relief under 80C section of income tax so do not need to pay any tax on total balance or even on earned interest
  • Transfer of Account - You can transfer the account from post office to bank, one bank to other bank account
  • Minimum Deposit Amount feature - This is good news for those who has low income or low income family background they need to minimum only rs.250 deposit in a year 

Document to Open Account Sukanya Samriddhi Yojana in SBI

Address proof  and identity proof of the depositor, birth certificate of the girl child required for Sukanya Samriddhi Yojana in SBI 

Process to open account of Sukanya Samriddhi Yojana in SBI

  • Go to SBI branch and meet an officer which taken the charge of opening the account 
  • He will guide for all the actions of completing the process
  • Fill the Sukanya Samriddhi Yojana form 
  • Attach all the necessary documents requested by state bank of india
  • Account will be opened after verification of details 
  • You have to deposit amount to Initialize the account
  • Now your account will be active and notified through sms from your registered mobile number
  • Passbook will be given to parents on opening of account 

In case of Girl Child marriage, Girl Child become NRI or in case of any emergencies closure of account is allowed before maturity of account

You can open account of Sukanya Samriddhi Yojana in sbi although it's branch is everywhere and it will definitely benefit to small areas 

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