Sukanya Samridhi Yojana Scheme - The Civil Service

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Friday, 24 January 2020

Sukanya Samridhi Yojana Scheme

Sukanya Samridhi Yojana Scheme

The government has come up with several schemes to promote daughters' education. The Central Government's Sukanya Samridhi Yojana scheme started by PM Modi to save the girl child in our country. The scheme is under Beti Bachao Beti Padhao. is a good investment scheme for saving girls for higher education and marriage under the age of 10 years. Sukanya Samriddhi Yojana is for daughters only. 
Sukanya samridhi yojana scheme

What is Sukanya Samridhi Yojana Scheme? 

Prime Minister Mr. Narendra Modi started Sukanya smithy/samridhi Yojana under the 'Beti Bachao Beti Padhao' scheme. It is a small saving scheme for girl's education and marriage. This account can open in the name of a girl under the age of 10 years. 
To open this account, you have to visit the nearest post office or government authorized bank with three documents identity proof of the guardian, address proof of the guardian and birth certificate of the girl child. In case the girl's parents are incapable of managing the account or girl doesn't have a mother's father, then her legal guardian can deposit the amount in her statement. 
Rupees 250 will be deposited as the initial deposit. The amount can be paid by cash check or the drop, and it must keep in mind that you can only collect the money only for 14 years after opening the account. Minimum rupees 250 should be deposited in the account every year; otherwise, the account will be declared as an irregular account.
To transform the irregular account into a regular report, you have to deposit rupees 250 every year plus rupees 50 as a penalty. It can do during 14 years of account opening after completion of 14 years. A regular account cannot be changed into regular account maximum deposit limit of those accountants rupees one lakh fifty thousand for a year. 

Also, Read;
PM-KISAN YOJANA
PM Jan Dhan Yojana
Sukanya samridhi yojana scheme

Key Features of SSY Account:

Who can invest in this? 

 Any Indian resident a parent or a legal guardian can make this investment to benefit the girl child. 

Age barrier:

 In terms of the age barrier parents and legal guardians can open this particular account for a girl child who is ten years or less of age. 

Requirement and limitations:

An account of Sukanya Samriddhi can open on an initial deposit of Rs 1000. Earlier, a minimum deposit of Rs 1000 per year was required to deposit in this account, which is now only Rs 250. A minimum of Rs 250 and a maximum of Rs 1 lakh 50 thousand can store in this account in a financial year. This money has to be deposit only for 14 years after opening the account.
Accounts for different girl child:
You can open a maximum of two accounts for two different girl child & a third account can be open for investment if three girls are born the first time or twin girls are born the second time. 

Deposit earning rate: 

The deposit makes a return of 8.5% percent, which is reviewed and revised quarterly in line with other small savings schemes of the government. 
Holding Period and Closure: 
 It has a minimum holding period of eight years and matures twenty-one years after the initial investment made. Premature closure of this investment is only allowed in the regrettable event of loss of life of the girl child. 
Nominations and Account holding types: 
Nomination facility, there is no nomination facility allowed as for this investment and talking about account holding types this particular investment can be made by the parent or the legal guardian for a girl child. 
Capital and Inflation Protection:
capital protection it has been backed by the government of India; your capital or principal investment is protected. There is no inflation protection because inflation is an ever-changing number. However, these investment rates remain range-bound. 
Withdrawal: 
In terms of withdrawing this amount, fifty percent of this amount can withdraw at the time the girl child turns 18, and the balance can only withdraw if the investment has completed 21 years from the date that you began it 
Where you open this account for Sukanya samridhi yojana scheme? 
This account this particular account can be opened in any post office which has a Savings Bank facility or in any branch of a commercial bank that has been authorized by the Government of India. 

Documentations required? 

Documentation required to open this particular investment the birth certificate of the child is required along with ID proofs of the parent or the guardian such as the pan card and adhar copy or any other address proof typically your driver's license your voter's ID etc. at time of opening this account. The original ID proves as well as the birth certificate has to taken for verification hey incredible investors. 
Sukanya samridhi yojana scheme

Benefits of Sukanya Samriddhi Yojana scheme:

● Tax Deduction Benefit under SECTION BOC up to Rs. IS Lakhs. 
● Flexible Investment Options. Minimum Deposit • Rs. 250 per Year. Maximum Deposit • Rs. IS
● Returns are Guaranteed by Government Of India
● Higher Fixed rate of return compared to other Government Schemes.
● Long Term Investment provides Benefit of Compounding.
● Easily transferable from one part of Country to another
● Premature Closure for marriage purpose
● Premature closure also allowed on Untimely Death Of Account Holder or inability to continue.
● NO Option Of availing Loan against Sukanya Samriddhi Account. Availing Loan option is available in PPF Account.

Sukanya Samriddhi  Yojana Scheme Account opening guide:

1. To open the Sukanya Samriddhi account, visit the nearest post office in your locality.
2. In the post office, ask for a form to open an SSY account.
3. You have to fill the SSY account Form very carefully. Verify your form it carefully before submitting it. There should be no mistakes such as name, address, parent name address, phone number address. If any errors found, then the form will be not accepted. 
4. To fill this form, you can also take the help of office-bearers.
5. After filling the form, you will also have to submit the girl's photo and Aadhaar card on the counter.
6. After the account opening process completed, It will provide you with a passbook. It would help if you kept the passbook safe.
7. In the passbook, you will get complete information about the transaction in the account.

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