India Post Sukanya Samriddhi Account New Saving Scheme for Girl Child

Government of India Department of Posts has given Sukanya Samriddhi Account notification.  The unabated decline in Child Sex Ratio since 1961 is a matter of grave concern. This trend has to be reversed. To ensure survival, protection and education of the girl child,  Government of India has launched Beti Bachao, Beti Padhao Abhiyaan, which seeks to change mindsets to celebrate the girl child.

GoI, PM launched Sukanya Samriddhi Saving Account/Sukanya Samriddhi Yojana Scheme for the benefit, welfare, to ensure survival, protection and enabling the education of the Girl Child as a part of Beti Bachao – Beti Padhao” Campaign. Rate of Interest of SSA is 9.1%, Special Deposit Scheme for Girls, SSA scheme details,Sukanya Samriddhi Saving Account Feature


A new small saving scheme ‘Sukanya Samriddhi Account’ has been notified for enabling the education of the girl child. A Bill to amend Juvenile Justice Act has been introduced in Parliament to reform the law relating to juvenile offences.

The Prime Minister sri Narendra Modi has launched “Sukanya Samriddhi Yojana” for the benefit of the Girl Child or the welfare of a Girls Child as a part of "Beti Bachao-Beti Padhao” Campaign which would fetch yearly 9.1% per annum compounded on yearly basis.

Scheme Name:
1. Sukanya Samriddhi Saving Account(SSA) Scheme/Sukanya Samriddhi Yojana/ Special Deposit Scheme for Girls

Who Can open the SSA Account?
Sukanya Samriddhi Saving Account can be opened on a girl child's name by her legal Guardian or Natural biological Guardian

Eligibility/Age Limit:
Girl child below age of 10 years to be opened by the natural or legal guardian. So, The age of the girl child at the time Opening of SSA account should not be more than 10 years as per SB Order No.2/2015. The Girl, who is born on or after 02-12-2003.
One year relaxation available this year:
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.

Documents Required:
1. Birth Certificate of Girl child
2. Address proof/Identity proof of Guardian

Main Features:
1. Initial deposit of Rs. 1000/-
2. Subsequent deposits in multiples of Rs. 100/- & Minimum of Rs. 1000/- in a financial year.
3. Maximum contribution/deposit per financial year Rs.1,50,000/-
4. Contribution is allowed up to 14 years from date of opening
5. No limit on number of deposits either in a month or in a Financial year
6. Income Tax rebate
No Deposit for the period from 15th – 21st year of a/c
7. 50% of money can be partially withdrawn when Girl reaches 18 years for education or marriage.
8.  If minimum Rs 1000/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year.
9. Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years.
10. Account can be closed after completion of 21 years.
11. If account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.
12. Normal Premature closer will be allowed after completion of 18 years /provided that girl is married.

Interest payable:
Rate of interest 9.1% Per Annum(2014-15), calculated on yearly basis ,Yearly compounded.


Tax Benefits on Sukanya Samriddhi Account Scheme:
The amount that is deposited under Sukanya Samriddhi Account will be eligible for income tax exemption under Section 80C of Income Tax Act, 1961. At present, only the contribution of up to Rs 1.5 lakh toward Sukanya Samridhi Yojana is eligible for tax deduction under Section 80C.

Maturity
The account shall mature on completion of 21 years from the date of opening of the account
Amount generated in 21 years if the account is opened at the moment of girl child is born with a yearly investment if Rs. 12000/- will be Rs. 6,07,128/- and Rs. 1,50,000/- for 14 years will be Rs. 7200000/-

Please contact Nearest Post Office to Open Account and get more details

Govt.Of India The Sukanya Samriddhi Account Rules 2014 and SSA Features

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7 comments:

  1. This comment has been removed by the author.

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  2. Thank you so much sir for sharing complete information with us. I would like to know that how many deposits I can made in one year ???

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  3. sir pls keep this information in telugu

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  4. ok sir tomorrow will upload telugu file in this post tnq sir

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  5. This is a great initiative by Govt of India for the benefit of girl child in our country and I think this scheme should continue for ever like PPF account. But the rate of interest has been reduced to 8.6% which is not at all good. This scheme should have some special interest rate to attract people to save for our girl child. Not only that after budget 2016, there has been many changes for sukanya samriddhi account rules to make things clear. Hope in coming years this scheme will be beneficial in real terms rather than becoming another investment option.

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  6. After the recent changes, now the rules for NRI is quite clear for investing in SSA account. In simple words, NRI's can't open SSA account. Even if someone open the account and after few month traveled to abroad, they have to cancel the account as they will not get any benefit further.

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