How ToOpen an account under Sukanya Samriddhi Yojana

Eligibility Criteria

• Gender: Girl child only

• Citizenship: Indian citizen

• Age limit: On the date of opening the account,

the child’s age should 10 years or younger.

Who can Invest?

• Natural Guardian

• Legal Guardian of the eligible Girl child

Account Limit

only one account in the name of one girl child

maximum two accounts in the name of two

different Girl children

One guardian can open maximum 3 accounts,

only in case he/she has 3 girl child in 1st

birth or twin girl child in 2nd birth.

Sukanya Samriddhi Yojana account can be opened at

• Authorized Banks

• Post Office

Documents Required

Submit application form along with the following documents

• Birth certificate of the girl child• Identity proof of the Guardian• Residence proof of the Guardian

Deposits

Account may be opened with a minimum initial deposit ofRs. 1000.00

Subsequent deposit should be in multiple of Rs. 100.00

Minimum Deposit/ financial year- Rs.1000.00

Maximum Deposit/financial year- Rs.1,50,000.00

Irregular Payment/ Revival of account: If minimum Rs1000/- is not deposited in a financial year, account willbecome discontinued and can be revived with a penaltyof Rs 50/- per year with minimum amount required fordeposit for that year.

Mode of Deposit & Date of Credit

Deposit may be made in CASH, by CHEQUE,DEMAND DRAFT, through ELECTRONIC MEANS( e-transfer)

Date of Credit of deposit to the account shallbe determined as under

• Where the deposit is made by cheque, date ofencashment of cheque

• Where deposit is made by demand draft, the dateof submission of the same to the bank or postoffice

• Where deposit is made by e transfer, the date ofdeposit

Interest on DepositCompounded annually with option for monthly

interest pay-outs to be calculated on balancein completed thousands. (Current rate8.60%w.e.f 1st April, 2016).

Tax RebateAs applicable under section 80C of the IT Act,

1961. Triple exempt benefits i.e. there will beno tax on the amount invested, amount earnedas interest and amount withdrawn.

Tenure

Tenure of the Deposit: 21 years from thedate of opening of the account.

Normal Premature closure will be allowed aftercompletion of 18 years /provided that girl ismarried.

Maximum period upto which deposits canbe made: 14 years from the date ofopening of the account.

Premature Closure: Allowed in the event of death of the depositor or in cases of extreme

compassionate grounds such as medical support in life threatening diseases to be

authorized by an order by the Central Government

Withdrawal : 50% of the balance lying in the account as at the end of previous financial year for the purpose of higher education,

marriage after attaining the age of 18 years.

A financially aware and empowered India.