Thursday, August 16, 2018

Sukanya Samriddhi Yojana is why best for future of your daughter

If you have daughter and want to make some future investment plans about her so don't worried Sukanya Samriddhi Yojana scheme is for your daughter

Modi Government in December 2014 launched the Financial saving scheme Sukanya Samriddhi Yojana for girl child to building a bright future , providing higher education and care free marriage expenses

Sukanya Samriddhi Yojana scheme has launched under the social campaign Beti Bachao Beti Paddao Abhiyan (बेटी बचाओ बेटी पढ़ाओ)

Parents can deposit money for her girl child 's marriage and education later will work for her future.The Sukanya Samriddhi Yojana Account can also open in post office and other private banks like Axis Bank,ICICI Bank or HDFC Bank

Sukanya Samriddhi Yojana

In July 2018 Government reduced minimum deposit amount from rs.1000 to rs.250 in a financial year

Sukanya Samriddhi Yojana account open only if your daughter age is between 3-10 years, Account can be open for two girl children separately but if first order of birth or second order of birth has twin so three account can be opened in a family

So In a single family two account or three accounts in case of twins are allowed to open

Sukanya Samriddhi Yojana

Eligibility to Open Sukanya Samriddhi Account

Eligibility to open Sukanya Samriddhi Account

  • Any girl child who is the citizen of india 
  • Only Girl Child whose age between 3-10 years allowed this scheme
  • Sukanya Samriddhi Yojana scheme is not for NRI's child
  • You can also open account for adopted daughter
  • Parents are authorize to open the account on behalf of her daughter 
  • In case of twins,  parents has to be submit birth certificate for opening two accounts

Limits of Amount Deposit

  • Minimum deposit amount is rs.250 and maximum upto rs 1.50 lakhs per year , you can deposit upto 15 years
  • After 15 years you can't contribute to more money in girl child account
  • Getting Interest rate on amount continues after 15 years upto 21 years 

Document Required 

  • Identity Proof Of Parents
  • Passport Size Photo
  • Birth Certificate of girl child
  • Address Proof Of Parents
  • Fill up the form of opening Sukanya Samriddhi Yojana Account visit link

How to withdraw amount

  • After Completed 10th standard or attained 18 years, girl child for the purpose of higher education eligible to withdraw 50% amount of total deposited 
  • When applied for withdrawal the amount, document required for proof of education purposes like fees slip or taking admission in university or college

Account Maturity Information

After completes of 21 years from date of opening, account become matures and all the amounts including interests are withdraw 

Suppose if you open the account in 16 august 2018 then date of maturity of sukanya samriddhi yojana will be on 16 august 2039

After 21 years no more interest will be added to girl account 

Around girl marriage when she attains 18 years or above, amount can be withdrawn earlier but have to application before one month from marriage or after three month of marriage

But when you want to close the account any time, the amount you deposit will receive applicable interest rate only for post office saving account so it is not for account opened in banks

Read Also : Know Post Office Monthly Income Scheme Bonus With Full Details Analysis For 2018

Who Will Operate Account

When girl not attains 18 years age her parent will operate the account, after 18 years shall be mandatory rule that girl operate the account

Amount Deposit option

Amount can be easily deposited through demand draft, net banking, cheque and cash

Where I can Open Account

Account can open in any banks like SBI, axis bank, hdfc bank, icici bank or any other bank and all the banks are authorize for Sukanya Samriddhi Yojana

You can also open account in post office, even post office network is in every part of india so it is easy for small town to takes part in Sukanya Samriddhi Yojana 

Sukanya Samriddhi Yojana Chart

So there has below chart which give insight detail of your investment, suppose if ram has open account for her daughter which age about 3 years and on consecutive 14 years he invested 12,000 per month i.e 144000 a year with 8.3% interest rate, so after completion of 21 years her daughter's total return would be Rs.67,87,684 so we can say that Sukanya Samriddhi Yojana scheme really far better than other schemes and its rate of interest is higher than other saving account or PPF account interest rates

Sukanya Samriddhi Yojana Chart Interest Rate

Sukanya Samriddhi Yojana Chart Pdf 

If you want to see sukanya samriddhi yojana chart in PDF format so please visit this link

Sukanya Samriddhi Yojana Interest Rate 2018

Indian government reviews sukanya samriddhi yojana interest rate quarterly so it changes at every quarterly 

From July 2018 current interest rate is 8.1% so interest earned on balance depend upon quarterly interest rate 

Sukanya Samriddhi Yojana Tax Benefit

Sukanya Samriddhi Yojana scheme under Section 80C are tax benefit scheme that means you do not have to pay tax on earned interest rate and amount deposited 

Total withdrawal after maturity are under tax relief from income tax

So government charges no tax on this scheme

Sukanya Samriddhi Yojana Calculator

If you want to see at what investment how much return you will get, to know maturity amount and interest rate earned throughout consecutive years.There has below the sukanya samriddhi yojana calculators that show data with statistics 

Terms and Conditions 

  • Not deposit minimum amount within one year then you will have to pay 50 rupees per year
  • If you continue to do not deposit minimum account then your account become inactive, and to regular your account you have to pay previous years minimum balance with penalty  
  • On death of girl child amount deposited with interest earned transferred to her parents
  • After completion of 21 years no interest rate will be made on deposited amount
  • When Girl Child attains 18 year age then she able to operate account 
  • Premature amount is allowed only when girl around her marriage attains 18 year age but she have to apply form before marriage or after 3 months of marriage

Can Account Transferred to other banks or post office 

Yes there is a provision if you want to transfer your account post office to other bank or current bank to other bank or bank to post office

For this you have to fill the form for requesting account transferred to current post office or bank and then your current bank or post office send all the necessary KYC with documents to your desired bank or post office and after completes all the process your balance transferred to your new bank or post office

Sukanya Samriddhi Yojana scheme somehow good to secure and for bright future of your daughter and the interest rate earned by this scheme is more than any other saving or PPF account interest rates, we can say that Sukanya Samriddhi Yojana will give much return of your investment
बेटी बचाओ बेटी पढ़ाओ