Prime Minister Narendra Modi has Launched Sukanya Samridhi Yojna‘ (girl child prosperity scheme) with the vision to provide for Girl Child Education and Her Marriage Expense. Sukanya Samriddhi Account Scheme is a small deposit scheme for girl child, as part of ‘Beti Bachao Beti Padhao’ campaign, which would provide income tax deduction Under section 80C of the Income Tax Act,1961 and exemption of Interest from Income Tax.
In this article we have discussed Provisions of this Scheme alongwith tax and other benefits :-
Date of Commencement of Scheme- Sukanya Samriddhi Account Scheme is been notified by Ministry of Finance vide Notification No. G.S.R.863(E) Dated 02.12.2014. Shceme become operational by notification of rules namely ‘Sukanya Samriddhi Account Rules, 2014’. These Rules were subsequently amended vide Notification No.G.S.R.323(E) dated-18.03.2016 by which government has notified ‘Sukanya Samriddhi Account Rules, 2016’. These Rules were further amended vide Notification No.G.S.R.617(E) dated-05.07.2018 by which government has notified Sukanya Samriddhi Account (Amendment) Rules, 2018. The Article Analyses these Rules for easy understanding of our readers.
Depositor– For this scheme Depositor is an individual who on behalf of a minor girl child of whom he or she is the guardian and deposits amount in account opened under this scheme. Under the revised rules definition of depositors also include Account Holder.
Who can be ‘Guardian’ under Sukanya Samriddhi Account Scheme– In relation to a minor girl Child Guardian means
(i) either father or mother; and
(ii) where neither parent is alive or is incapable of acting, a person entitled under the law for the time being in force to have the care of the property of the minor.
(iii) Under the Revised Rules Guardian Includes Legal Guardian too, Which means Parents of adopted Child adopted are also Guardian under the revised rules.
One Girl One Account– Depositor cannot open multiple or more than one account in the name of a Girl Child. Rules been changed to specify that more than once account cannot be opened for a Girl Child even if depositor are different.
Can be opened for Maximum two girls – Natural or legal guardian of a girl child allowed to open one account each for two girl children’s subject to below conditions.
Account opening for more than two girls – Under this scheme natural or legal guardian of the girl child shall be allowed to open more than two Accounts for girl children’s in a family if such children are born in the first and/or in the second order of birth, on production of a certificate to this effect from the competent medical authority regarding the birth of such multiple girl children in the first two orders of birth in a family. But account under the scheme not allowed to be opened for girl child born in second or successive birth if first order of birth itself in a particular family results in two or more surviving girl children.
Age Restriction for Opening of Account under Sukanya Samriddhi Account Scheme- The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years and any girl child, who had attained the age of ten years, one year prior to the commencement of these rules shall also be eligible for opening of account under these rules. Scheme is been commenced from 02.12.2014.
Grace Period for Opening of Account under Sukanya Samriddhi Account Scheme– Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003 & 1.12.2004 can open account up to 1.12.2015.
Documents to Open the Account and how to open the account under Sukanya Samriddhi Account Scheme- Birth certificate of a girl child in whose name the account is opened shall be submitted by the guardian at the time of opening of the account in post office or bank along with other documents relating to identity and residence proof of the depositor.
List of Banks Authorized to Open account under Sukanya Samriddhi Yojana
1. State Bank of India 2. Andhra Bank 3. Allahabad Bank 4. Bank of Baroda 5. Bank of India 6. Punjab & Sind Bank 7. Bank of Maharashtra 8. Canara Bank 9. Central Bank of India 10. Corporation Bank 11. Dena Bank 12. Indian Bank 13. Indian Overseas Bank 14. Punjab National Bank 15. Syndicate Bank 16. UCO Bank 17. Oriental Bank of Commerce 18. Union Bank of India 19. United Bank of India 20. Vijaya Bank 21. Axis Bank Ltd. 22. ICICI Bank Ltd. 23. IDBI Bank Ltd.
Document required for opening Sukanya Samriddhi account are:-
- Birth documents of girl child (Birth certificate)
- Address proof of the Guardian
- Identity proof of the Guardian
- 3 Photos of of the Guardians and 3 photos of the child
- Pan card and Aaadhar card copies of of the Guardians
No Fixed Interest Rate- Under this scheme Interest rate is not fixed and Government will declare on yearly basis the Interest on accounts opened under these rules.
Sukanya Samriddhi Account Interest Rate Table with Minimum and Maximum Investment lImit
| S. No. | Financial Year | Date Range | Interest Rate | Minimum Investment | Maximum Investment |
|---|---|---|---|---|---|
| 1 | 2014-15 | 01/04/2014 to 31/03/2015 | 9.1 % | ₹ 1,000/- | ₹ 1,50,000/- |
| 2 | 2015-16 | 01/04/2015 to 31/03/2016 | 9.2 % | ₹ 1,000/- | ₹ 1,50,000/- |
| 3 | 2016-17 | 01/04/2016 to 30/09/2016 | 8.6% | ₹ 1,000/- | ₹ 1,50,000/- |
| 4 | 2016-17 | 01/10/2016 to 31/12/2016 | 8.5% | ₹ 1,000/- | ₹ 1,50,000/- |
| 5 | 2016-17 | 01/01/2017 to 31/03/2017 | 8.4% | ₹ 1,000/- | ₹ 1,50,000/- |
| 6 | 2017-18 | 01/04/2017 to 31/03/2018 | 8.1% | ₹ 1000 | ₹ 1,50,000/- |
| 8 | 2018-19 | 01/04/2018 to 30/09/2018 | 8.1% | ₹ 1000 (₹ 250 from 5th July 2018) | ₹ 1,50,000/- |
Interest After Maturity of account under Sukanya Samriddhi Account Scheme– Earlier post maturity also if account holder do not close the account he was eligible for interest till final closure of the account but now No interest shall be payable once the Account completes twenty-one years from the date of its opening.
No Interest on Deposit made on or after 10th day of Month
The interest shall be calculated for the calendar month on the lowest balance in an Account on the deposits made between the close of the tenth day and the end of the month. So Account holder will not get any interest on amount deposited after 10th of the Month for the Month of Deposit.
Option of Monthly Interest
Revised scheme do not gives option of Monthly Interest.
Interest Compounding Monthly/ Yearly
Interest will be compounded yearly and will be credited to account till the account completes twenty one years from the date of opening. The interest shall be calculated for the calendar month on the lowest balance in an Account on the deposits made between the close of the tenth day and the end of the month.
Interest on Contribution in Excess of Rs. 1.50 Lakh Per Annum and withdrawal of excess payment
Deposit in excess of one lakh fifty thousand rupees in any financial year shall, if accepted due to any accounting error, not be eligible for any interest and such amount, which is deposited in excess of an annual ceiling of one lakh fifty thousand rupees, may be withdrawn anytime by the depositor.
Where one can open account?– At any post office in India doing savings bank work and Branch of a commercial bank authorised by the Central Government to open an account under Sukanya Samriddhi Account Scheme.
Maximum and Minimum Deposit- The account may be opened with an initial deposit of one thousand rupees [this has been amended to Rs 250 ] and thereafter any amount in multiple of one hundred rupees (this has been amended to Rs 250 wef 05.07.2018) may be deposited subject to the condition that a minimum of one thousand rupees (this has been amended to Rs 250 wef 05.07.2018) shall be deposited in a financial year but the total money deposited in an account on a single occasion or on multiple occasions shall not exceed one lakh fifty thousand rupees in a financial year. The amount has been amended from RS 1000 to Rs 250 wef 05.07.2018 via Notification no. G.S.R. 617(E) Dated 05.07.2018
Minimum – Rs, 2,50/- Per Year
Maximum- Rs. 1,50,000/- Per Year
Term Period – Deposits can be made till completion of Fifteen Years (Earlier it was fourteen years) from the date of opening of the account. The maturity of the account is 21 years from the date of opening of account. In other words No Deposit for the period from 16th to 21st Year of account.
Regularisation of irregular account and Penalty – Where minimum amount of Rs. 250/- a year has not been deposited than such irregular account may be regularised on payment of a penalty of fifty rupees per year along with the minimum subscription of Rs.250/- for the year (s) of default any time till the account completes fourteen years.
Interest on Account in Default
If in the case of any Account, the default is not regularised within fifteen years of the opening of the Account, then the whole deposit, including the deposits made prior to the date of default, shall be eligible only for interest rate prescribed for Post Office Savings Bank at the time of its maturity and any amount credited wrongly by way of interest into an Account under default shall be reverted to the Government account as soon as it comes to the notice of the Bank or the post office concerned. if the default occurred because of the death of the guardian of the Account holder who opened the account than account holder will get interest as applicable to Sukanya Samriddhi account.
Interest on Change in Status of Account holder to non-citizen or non-resident of India
In the event of change of status of the Account holder’s citizenship or residential status, no interest shall be deemed to accrue to the Account from the change of such status and the Account shall be deemed to be closed prematurely from that date. In case, any interest was credited to the Account after the change of resident status or citizenship of the Account holder, be reverted to the Government account by the post office or the Bank concerned, immediately on being informed of such change in the status of the Account holder.
Mode of Deposit – Deposit can be made in any of the following mode :-
1. cash
2. by cheque or demand draft drawn in favour of the postmaster of the post office concerned or the Manager of the Bank concerned where the Account is opened, with an endorsement on the back of such instrument made and signed by the depositor indicating the name of the Account holder and Account number in which the deposit is to be credited;
3.through electronic means (e-transfer) in the concerned post office or Bank if such post office or bank has access to the facility of CBS.
Date of Credit of Deposit Made
(a) where the deposit is made by cheque, the date of encashment of the cheque;
(b) where the deposit is made by demand draft, the date of submission of the same to the Bank or post office; and
(c) where the deposit is made by e-transfer, the date of deposit.
Who can Operation the account and can the girl child operate the account?
(1) The Account shall be operated by the guardian till the beneficiary Account holder attains the age of ten years or till the beneficiary Account holder attains the age of eighteen years.
(2) The Account shall be operated by the beneficiary Account holder after such Account holder attains the age of eighteen years: Provided that the Account may be operated by the beneficiary Account holder after such Account holder attains the age of ten years.
Premature closure of account –
Though the duration of the Sukanya Samriddhi account is 21 years from the date of the opening of the account but request for premature closure can be made after 5 years from the date of opening of account in following scenarios :-
1. Untimely death of the account holder– In the unfortunate event of death of the beneficiary account holder (girl child), the account shall be closed immediately on production of death certificate issued by the competent authority. In that case the balance at the credit of the account shall be paid along with the accrued interest till the date of death shall be paid to the guardian.
2. Account holder become a non-citizen or NRI- If, after the opening of an Account, the Account holder becomes a non-citizen or non-resident of India, intimation to this effect shall be given by the guardian or the Account holder to the post office or the Bank concerned, as the case may be, within a period of one month from the date of such status of the Account holder’s citizenship or resident status. No interest shall be deemed to accrue to the Account from the change of such status and the Account shall be deemed to be closed prematurely from that date and credit in the account will be returned to along with interest due, to the Account Holder.
3. Extreme compassionate grounds– Where the post office or the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the Account holder or death of the guardian, that the operation or continuation of the Account is causing undue hardship to the Account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the Account.
4. For Other Reasons– Premature closure of an Account may be permitted, anytime after the opening of an Account, for any reason other than provided under this sub-rule, and in which case the whole deposit shall be eligible only for the interest rate prescribed for the Post Office Savings Bank.
Pass book
(1) On opening an Account, the guardian shall be given a pass book bearing the name, address and date of birth of the Account holder, date of opening of Account, Account number, name and address of the guardian, relationship with the Account holder and the amount deposited.
(2) A duplicate passbook may be subsequently issued in the event of loss, mutilation, etc., of the original passbook, on the written request of the guardian or the Account holder, on payment of a fee of fifty rupees and such fees shall be creditable to the Government account.
(3) The guardian or the Account holder shall have the option to maintain the Account records exclusively in electronic form, provided the post office or Bank concerned has access to the facility of CBS.
Transfer of account to other place –
(1) The Account may be transferred anywhere in India and from or to post offices and from or to Banks and between post office and Bank, free of cost on furnishing of proof of shifting of residence of either the guardian or the Account holder and otherwise, on payment of a fees of one hundred rupees to the post office or the Bank to which the transfer is made.
(2) The process of transfer shall be effected electronically if the post office or the Bank concerned, has access to the facility of CBS.
Pre-Mature Withdrawal for Education
(1) Withdrawal of upto a maximum of fifty per cent of the balance in the Account at the end of the financial year preceding the year of application for withdrawal, shall be allowed for the purpose of higher education of the Account holder but such withdrawal shall not be allowed unless the Account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.
(2) The application for withdrawal shall be accompanied by a documentary proof in the form of a confirmed offer of admission of the Account holder in an educational institution or a fee-slip from such institution clarifying such financial requirement.
(3) The withdrawal may be made as one lump sum or in instalments, not exceeding one per year, for a maximum of five years, subject to the limit specified in point (1) above.
(4) withdrawal shall be restricted to the actual demand of fee and other charges required at the time of admission as shown in the offer of admission or the relevant fee-slip issued by the educational institution.
Closure on maturity or before maturity due to Marriage of Account Holder and Payment of Interest and Principal on Maturity
(1) The Account shall mature on completion of a period of twenty-one years from the date of its opening but final closure of the Account may be permitted before completion of such period of twenty one years, if the account holder, on an application, makes a request for such premature closure for reasons of intended marriage of the Account holder and on furnishing of age proof confirming that the applicant will not be less than eighteen years of age on the date of marriage. No such premature closure shall be made before one month preceding the date of the marriage or after three months from the date of such marriage.
(2) On maturity, the balance including interest outstanding in the Account shall be payable to the Account holder, on an application by the Account holder for closure of the Account, and on furnishing documentary proof of her identity, residence and citizenship.
(3) No interest shall be payable once the Account completes twenty-one years from the date of its opening.
Tax Benefit – The amount deposited towards Sukanya Samriddhi Account is deductible under section 80C of Income tax Act,1961 upto Rs.1.5 lakhs as notified by Notification No. 09/2015 dated 21.01.2015. Amount deposited in this account will be counted in overall limit of Rs. 1.50 Lakh under section 80C. Interest earned in this scheme as well as maturity amount is exempt from Income Tax wef F.Y. 2014-15. Also Read- Interest on & withdrawal from Sukanya Samriddhi Account exempt from Tax
Comparison with PPF in respect of Tax Benefit- Investment in Both PPF & Sukanya Samriddhi Account is eligible for deduction under section 80C of the Income Tax Act, 1961. Like PPF in Sukanya Samriddhi Account also Interest and Maturity amount is exempt from Tax.
Drawback of the Sukanya Samriddhi Account Scheme-
1. High Lock in Period
2. Limitation on No. of Account
3. Scheme do not provide for online transfer of Amount in this account if account is opened with post office. It allows only payment by Cash, Cheque and Demand Draft. In respect of account with bank online transfer in this account is possible.
4. No Clarity on Future Interest Rate for this account.
Benefits of Sukanya Samriddhi Account Scheme-
1. Higher Interest Rate
2. Tax Benefit Under Section 80C
3. Payment on Maturity to Girl Child.
4. Flexibility in Deposits- Any Number of time amount can be deposits in Multiple of Rs. 250 subject to Maximum Limit of Rs. 1.50 Lakh per year.
5. Transferable Anywhere in India.
6. Even Girl Child can operate after she attains the Age of 10 Year.
Conclusion – It’s a good scheme started with a good motto by the Government with a long term vision.
Also Check – RBI Notification for Specimen of Sukanya Samriddhi Account Passbook and account opening Form
Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net
(Republished with Amendments)
Tommorow i am going to enquire for this schem, after that i will share all my comments on it.
Good Scheme by the government. This is to promote the Education for the Girl Child which is below par compared to the Education for the Male Child.
This investment will support the Girl Child during her Wedding and thus will relieve the tension of the parents of accumulating money for the same.
The best part of the scheme is that one cannot withdraw before the maturity and thus will be utilised specifically for the purpose intended.
The scheme will give 9.1 compound interest every year, which means,
If one invest 10000 per year then it becomes 10000 * 14 = 1,40,000 (Premium paying term is 14 years) and the interest will be 1,45,926. So total amount becomes 1,40,000 + 1,45,926 = 2,85,926. After 7 years 15-21, 0 investment, however the interest will be 2,40,123. Thus total amount after the maturity will be 5,26,049 for an annual investment of 10000.
necessary instructions were not given to the specified banks till now. so they have no interest in opening this account.
Dear sir
I think this is good scame
Thanks modi sir & u
Bad scheme, promoting gender bias, should include male children, otherwise should be stopped.
Good Scheme
I have a question What happens after taking sukanya samriddhi account I pay amount only for 3-4 years?
My daughter’s DOB is 04-02-2014, Can you open account after 31-3-2015.
can this account be opened for a indian child born abroad???
My daughter dob is 16.07.2012 if i opened the account will she get total amount of 21 years if even she got marry before 21 years from date of opening acount
Useful information
We can pay any amount for year and any month with different breakups, maximum is 1,50,000
• Within Post office they have online transaction, so we can pay amount in any post office not necessary to come to same post office where this was opened
• Shortly they are working online portal for public as well, don’t know when this will be launched
• Passbook will be given with entries
• Documents required – Birth certificate, PP photos of daughter and Father/Mother, Pan card & address proof of Father/Mother
If I pay 2000 in a year for 14 years how much I get?
can any one answer the question?
If I deposit 1000 monthly for (14 Years) then after maturity what amount I will get on her 21 years
last Date of Sukanya Samriddhi Account
I asked that now my daughters age 10 yrs + deposit up to 14 years =daughters age 24 years + 7 years(no deposit up to next 7 years)=31 years(when 31 age of my daughter deposit matured.Is it correct?
Dear Sir,
How to calculate this skim
If I deposit 1000 yearly for (14 Years) then after maturity what amount I will get on her 21 years
some doubts in meturuity proceses,
My daughter DOB is 25/10/2006
HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???
IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!
FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!
– See more at: https://taxguru.in/income-tax/sukanya-samriddhi-account-tax-benefits.html#sthash.nO0AauTi.dpuf
if my child birth is november 2004 how many years i have to pay and when i can collect the money
tax exumption in sukanya samridhi yojana can it be applicable for the financial year of 2014-2015?
If I deposit 1000 yearly then after maturity what amount I will get on her 21 yr
tax exumption in sukanya samridhi yojana can it be applicable for the financial year of 2014-2015?
Sukanya Samriddhi Account/Yojna – Interest & Maturity amount calculation – Scenario 2 – Yearly Deposit
Example 2 – Mr Madhavan wants to open the Sukanya Samridhi Savings account in the name of his girl’s child (5 years old) in April 2015. He wants to contribute Rs 1,20,000 every year for 14 years. He also wants to keep this account active till 21 years from the account opening date (or till Child’s age of 25 years). He wants to know, what could be the total approximate interest amount and total maturity amount that he would accumulate under SSA?
Interest Calculation Sukanya Samriddhi Account – Yearly contribution
@Tejas which LIC PLAN you are talking about????
Kya yeh bank me opening ho Santa agar hai to kaun so bank me hoga please tell
It’s an awesome Scheeme
If some one have not birth certificate of his Girl child
Then what is the Procedure
Good scheam
I had compared the same with LIC. And I found LIC better than the sukanya samriddhi.
Here is the comparison. If I have missed somewhere let me know.
Sukanya Samrudhi Yojana
Its a Post Office New Scheme
Sukanya Samrudhi yojana…
9.1% Rate of Interest Compounded…
For example Pay Rs 12000 for 14yrs & Get Rs 6lac on 21st yr…
======================
LIC has better option than this….
======================
1. Payment Term
—————————
In post you have to pay Rs.12000 for 14 years
In LIC you have to pay Rs.22500 but for 9 years only
2. Insurance
—————————
In case of death of Father
In post family still have to pay 12000 per year till 14th year
In LIC no need to pay and family gets 6 lacs immediately in case of accidental death (in case of natural death 3 lacs plus bonus)
Hence concept of insurance is more important.
3. TAX FREE RETURNS
—————————
In LIC
premium – 22500
Need to pay – 9yrs
Total premium – 2lac
On 21st year
get Rs 6,32,000 totally TAX FREE.
In Post
premium – 12000
Need to pay – 14 yrs
Total premium – 1.80 lac
On 21st year
get Rs 6,07,000 TAXABLE
4. Gauranteed Calculation
—————————
In post 9.01% gauranteed for 2014-15 next year onwards it may change
In post calculation is based on bonus and bonus history of LIC is gaurateed
whether a suknya samridihhi account can be opened in the name of adopted girl child?
If anybody wants to know anything regarding this scheme can contact me on 9979378636 or mail me at [email protected].
I have two grand daughters.My son is in private job and daughter-in-law on contact service. I am retired officer from BSNL and want to deposit in sukanya samridhi accounts. Can I deposit amount in this account and take benefit under 80C of incometax
np singh
Go the near by post office n then u will get whole information about that scheme n related form also
Clarification required:
If, during the financial year, a maximum deposit of Rs 1,50,000/ is made in the daughter’s account and in subsequent years no deposit is made, is this allowed?
Or, like PPF account, the parent needs to keep the account alive by making deposits of minimum amount every year upto 21 years.
Please clarify
The government is doing a great job now a day’s especially for urban area and common peoples. They announced so many schemes and plans in last 4 – 5 months like Jan Dhan Yojana, Swacchha Bharat Abhiyaan and the most important Sukanya Samriddhi Account under the mission of Beti Bachao Beto Padhao. the best thing is the tax benefit. The government start providing tax deduction for this account under section 80C of the income tax act 1961.
[Repeat] ONE QUESTION HASN’T BEEN ANSWERED YET SO FAR!
HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???
IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!
FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!
THANKS IN ADVANCE FOR WHOEVER ANSWERS… :]
sir’
I have a girl child DOB 03/08/2014 and I want to know if I pay a minimum of 12000 rs per annum for 14 years then what will be the maturity value after 21 years
its very well drafted. please confirm can it applicable in financial year 2014-15 and provided from which banks.
Can the U S born chid staing at India can open SSA A/C in india
What is the future of the scheme in case of death of parents/leagal guardian. Who will pay the future instalments and whats the benefits given to the girl child instantly or on maturity.
RAvinder kumar
What is the future of the schme in case of death of parents/girl child, who will pay the future instalments and whats the benefit may be given to the girl child instantly or on maturity.
Ravinder Kumar
ONE QUESTION HASN’T BEEN ANSWERED YET SO FAR!
HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???
IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!
FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!
THANKS IN ADVANCE FOR WHOEVER ANSWERS…
Really sad to see all d queries.till date no one has Answered even a single question. See what iz d condition of our country.n u all educated people keep on posting ur queries.cant u see there is no answer till date…stop asking .better go to ur bearby bank n ask all d questions.
Sapns
IS THE SCHEME OPERATIONAL IN BANKS.
sukanya samriddhi account is good scheme of chid and poor Girls
I have 2 daughter having DOB 10/06/2009 and 02/08/2012. Can they open this account on their own
GOOD scheme
sir
i just want to know that if i am investing 10000/= p.a. then after 14 year maturiy value is 285927. it is correct.
but after 21 year my maturity value is 626736/= and as per your table it is 5.26lacs
that mean you are allowing interst @ 9.10% for 14 year but after it is lower rate after 14 years
kindly clarify
sir what about maturity in the above statement it is written the the maturity period is 21 years which is started from date of opening of the SSA account whereas I heard that it is counted on the age of the girl child please tell me about that
Maturity of the account
Is it only mature on the completion of 21 years from opening or
the child attain the age 21 years i.e.
period of deposit or maturity time in case the child is 10 years old.
To-day I went to open SSA Account, nearby post office. Shown DOB certificate which was issued by Embassey of India, from Riyadh Saudi Arabia. child born at Riyadh. The Post Master rejected to accept the birth certificate, saying that there is no clarification came from Govt? to accept it. Or you have provide the school certificate saying that child is admitted for schooling and birth date. This means that, we do not have believe on our own documents. The lot of NRI families, give the birth to child at india and live in aboard for long period, if they provide the birth certificate they will accept it and open the SSA account for them. they can deposit the maximum amount & obtain the benefits of interest rate.
Even if we are citizen of India, have to prove them again and again we are Indian and staying in India. for each and every thing. Why do not Govt to make on identity Record and it should be recorded each and every entry of the citizen in record and it will identity card should be used for all purposes.