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6 May 2021

Sukanya Samrudhi Yojana, The scheme is to secure the future of the daughters

Sukanya Samrudhi Yojana, The scheme is to secure the future of the daughters at an interest rate of 8.5 to 9 per cent.


• This is a long term savings plan like PPF account in which savings can be deposited for 15 years.
It can only be opened for 10 year old girls and it can be run for 21 years or until the girl gets married.

• The plan has a lock-in period of at least 8 years and 50% of the amount can be recovered when the bride turns 18 years old.
• In this scheme a minimum of Rs.1000 and a maximum of Rs. 1,50,000 can be deposited.

ર The amount deposited in Sukanya Samrudhi Yojana is exempted under Section 80C of the Income Tax Act and there is no tax on interest or maturity amount.
Sukanya Samrudhi Account Scheme


@intrest rate will change term and condition of this scheme

This is part of the Prime Minister's Beti Bachao, Beti Padao campaign and a special savings scheme for girls aimed at higher education and marriage of Indian daughters. Apart from this, the daughters will not be a financial burden for the family. Under this scheme, rupee will be deposited in Sukanya Samrudhi account for the stipulated time and the amount is returned with interest on maturity.

The best thing about this scheme is that small savings can be deposited in it and its account can be opened in the nearest bank or post office. Under this scheme, parents or legal guardians can open an account in the name of the daughter. This account can be opened only in the daughter's name. Is. The Post Office and Commercial Bank have been authorized by the government to open Sukenya Samrudhi account.

Sukanya Samrudhi Account and Rules

1. Parents can open an account in the name of 2 daughters, if the daughters are twins or three, they have to show a certificate from the hospital and then they will be included in the scheme.

. Age limit -

This account can be opened at the age of 10 and after the age of 10 the girl herself will be responsible for her account. Only one account can be opened in the name of a daughter. The depositor (guardian) will be a person who will deposit money on behalf of a little girl.

. An account cannot be opened for a child above 10 years of age under this scheme.


intrest  rate is lumsum

5. Sukanya Samrudhi Yojana has been launched all over India and hence this account for any parent

In this case, the account holder can operate the account in any part of India but the account holder or his parents / guardians have to show proof of transfer. Failure to do so will result in a penalty of Rs.100 / - for account transfer .
1000 is set to open an account. It is mandatory to deposit at least Rs.1000 per year. If this amount is not deposited within a year then a penalty of ₹50 will be levied.

6. The account holder can withdraw 50% of the pre-adult amount for their marriage or higher education at the age of 18.

7. In this case, the account will be closed when the depositor is not able to deposit the amount in the account.

8. Lock in Period - Sukanya Samiti can deposit money up to 15 years from the date of account opening. No deposit is required until the account matures. This account will run until the marriage of 21 years or daughter.

9. If you transfer money from the post office to the post office, it will be free. But if you transfer from post office to bank or then, you will have to spend Rs 100 which is to be done only once in a year.

10. If an accident occurs and the daughter dies, the amount deposited will be returned to her parents with interest.

image source::

Documents required to open an account

1. Birth certificate of a daughter issued by a hospital or government official.

2. Proof of residence of the daughter's parents or legal guardian such as passport, driver's license, electricity or telephone bill, voter's identity card, ration card or any other certificate issued by the Government of India which mentions residence.

3. A PAN card or high school certificate is also valid for opening an account. The account holder can transfer his account anywhere in India in future.

Authorized bank under this scheme


Method of Deposit

1. Cash
2. Demand draft to carry the check
3. Net Banking
4. Passbook

1. Upon opening the account, the account holder gets a pass book from the bank, in which his date of birth, account number, name, address, date of account opening, deposit etc. are written.

2. At the time of depositing rupee, the passbook will have to be deposited at the post office or bank. In addition, at the time of taking interest or at maturity, you have to submit the passbook.

3. If you want to create a duplicate passbook, you will be charged 50.

information source :1

Interest rate

SSY ensures a bright future for the daughters of India. The interest rate in this scheme is kept very high so that the interest of the people remains. Interest rates are not fixed. It will also change over time. Initially, the interest rate was 9.1 per cent, but in March 2015, it was raised to 9.2 per cent for the financial year 2015-16. In the financial year 2016-17, the interest rate was fixed at 8.6 per cent. The interest rate is calculated on the 10th of every month.

information source :2

Tax benefits

 for online application through sbi::
 Report 1 vtv news reort::

 Report  2 daily hunt news report::

The biggest advantage of the Sukanya Samrudhi Account Scheme is that it is tax exempt. Submit to Sukanya Samrudhi Yojana

Yearly Contribution Table:

Monthly Contribution Table

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What Is The Rate Of Interest That Is Earned In An SSY Account?

Currently, the rate of interest is 8.5% for the financial year 2018-2019.

Can the same girl child have more than one SSY account?
No, a girl child can have only one SSY account under her name.

Can An Individual Avail A Loan On SSY Account?
No, loan facilities are not provided under SSY.

Is there any minimum and maximum amount that can be deposited in an SSY account?

The minimum amount is Rs.1,000 and the maximum amount is Rs.1.5

🔹🔹How to open a Sukanya Samriddhi Account | Step by Step Guide

A Sukanya Samriddhi Account can be opened in any authorised post office branch or authorised branches of commercial banks. Generally, all banks that provide the facility to open a Public Provident Fund (PPF) account offer one for Sukanya Samriddhi Yojana (SSY) too.

🔹Documents that are required to open a Sukanya Samriddhi Account:

*Sukanya Samriddhi Account Opening Form.
*Birth certificate of the girl child (account beneficiary).
*Identity proof of the depositor (parent or legal guardian), i.e., PAN card, ration card, driving licence, passport.
*Address proof of the depositor (parent or legal guardian), i.e., passport, ration card, electricity bill, telephone bill, driving licence.


🔹A sample of the form can be downloaded here . 

🔹One may also get the application form from the post office or the bank where the account has been opened. 

🔹Getting a passbook 
Once the account is opened, the issuer gives a passbook. Here's a sample . 

Standing instructions can be given either at the branch or set through Netbanking for automatic credit to Sukanya Samriddhi Account.

Source: Information has been collected from the Ministry of Finance notification and the RBI website, and presented in manner that a lay reader can understand.

Only those rules which hugely impact the buying decision are mentioned here. For complete information, you need to contact the issuer while applying for the scheme. Also, rules are subject to change and accordingly impact the buying decision.

🔹Terms related to Sukanya Samriddhi Account
'Depositor' means an individual who, on behalf of a minor girl child of whom he or she is the guardian, deposits money in an account under the rules.

'Post office' means any post office in India doing savings bank work and authorised to open an account under these rules.

'Bank' means any branch of a commercial bank authorised by the central government to open an account under these rules.

'Guardian' is any person who is either the father or mother of the girl child or a person entitled under law to take care of property of minor until she turns 18.

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