Purpose of the Sukanya Samridhi Yojana is to save money for girl child marriage for her higher education or marriage under scheme Beti bachao Beti padao.
Account can be opened for a girl below 10 years of age under guardianship of parent or legal guardian.
Address proof and photo id proof of guardian is required along with birth certificate of child.
Money can be deposited till the girl attains age of 15 yrs.
After that no deposit but interest will be given every year.
Account can be closed only once girl attains age of 21.
Money deposited first time is rs 1000(cash only) after that in multiple of thousand,min is 250 and max is 1,50,000
Why Sukanya Samridhi Yojana!!-
-Rate of interest is attractive here.
-Compounding interest is paid here.
Small deposit year by year for a long period results into a big amount,can reduce your burden for higher education,marriage of your child.
Queries related to Sukanya Samridhi Yojana-
1. Who decides the rate of interest for the Sukanya Samridhi Yojana?
-Rate of interest is decided by the Government of India on quaterly basis.
2. Is it deposited money in Sukanya Samridhi Yojana is tax free?
-Yes,the amount deposited in this yojana is tax free and the amount after the maturity of the account is also tax exempted.