■What is Sukanya Samriddhi Yojana?
There are many schemes available for girl child such as beti padhao, Beti Bachao, Sukanya Samriddhi Yojana.
The govt. Official website is https://www.india.gov.in/my-government/scheme
●Eligibility for Sukanya Samriddhi Yojana:-
To open and account under the Sukanya Samriddhi Yojana the following eligibility criteria is applicable :-
▪︎Account must be opened before the girl child turns 10 years of age .
▪︎Either parents or a legal Guardian can open the account in the name of girl child
▪︎A family with two daughters can open up to two accounts only ,if there is a third girl child then there is no option to open third account under the SSy scheme.
▪︎More than one account for the same girl child not allowed under Sukanya Samriddhi Yojana .
▪︎If you are unable to invest the minimum deposit of rupees 250 in your daughter’s account but under Sukanya Samriddhi Yojana ,the account will be deemed as a default account and will earn interest as applicable under the scheme .
▪︎premature closure of the account under Sukanya Samriddhi Yojana is not allowed however premature closure can be processed in specific cases.
▪︎Once a girl child turns 18 years she is eligible to operate her on Sukanya Samriddhi Yojana.
●How Sukanya samriddhi Yojana works?
The account can be opened with an initial deposit of rupees 250 and thereafter any amount in the multiple of rs 100 can be deposited ,subject to the condition that a minimum of rupees 250 will be deposited in a financial year but the total money deposited in an account on a single occasion will not exceed rupees 1,50,000 in a financial year.
Deposit in the account can be made till the completion of 15 years from the date of opening of the account .
Between these years account keep earning interest on the balance ,it will receive interest at post office saving bank account rate which is currently 4%. If excess interest has been paid it will be reversed.
●Mode of deposit can be made in cash or by cheque or demand draft and an endorsement on the back of such instrument has to made and signed by the depositor ,indicating the name of account holder and account number in which the deposit is to be credited.
Deposit may also be made to Electronic means in the concerned post office or banks if there is CBS (core banking solutions )availability in them.
In case the deposit is made by cheque or demand draft, the date of encashment of the cheque or demand is the date of credit to the account which for e transfer it is the date of deposit
●Rules for partial withdrawal:-
To meet the financial requirements and for the purpose of Higher Education and marriage ,withdrawal of up to 50% of the balance at the credit of the account at the end of processing financial year is allowed .
The withdrawal will be allowed only when the account holder turns 18.
▪︎For Withdrawal -you will need to submit an application form for withdrawal and ID proof of citizenship proof and residence proof.
In case we do not withdraw the balance after 21 years ,the Corpus does not on any interest.
Transfer of account in case you change your residence you can transfer your Sukanya Samriddhi account balance to any post office or Bank branch in the country or from post office to a bank free of cost.
you will need to submit address proof in that case. For transfer under other circumstances you will be charged a fee of 100rs.
●How to open a Sukanya Samriddhi account:-
For this we have to fill up the application form and submitted along with the following documents
•an account opening form filled in
•birth certificate of the girl child .
•ID and address proof of the depositor.
•medical certificate as proof of birth of multiple girl child at once.
•any other documents as requested by the bank or post office.
☆You have to make an initial investment at least 1000 rupees through cash , cheque ,demand draft, online payment.
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