The Central Government has recently launched a wonderful scheme “Sukanya Samriddhi Yojana” to give support to poor people especially to those who have daughters. The parents who gave birth to baby girls are really lucky people now. This scheme is applicable to all the girls right from newborn babies till the age of 10 years. This scheme has been initiated by our Honorable Prime Minister Narendra Modi. The main intention of this scheme is for providing a bright future to all the girls in India by educating them including primary and higher education. One can open account of this scheme in any post office or any authorized bank.[List of authorized banks are provided at the end of the post].
And the slogan goes here by our PM “Beti Bachavo. Beti Padavo” which means “Save girl child, Educate girl child”.
- The bank account can be opened for a girl child up to 10 years of age.
- The minimum deposit amount per financial year is Rs. 1000/- and maximum is Rs. 1,50,000/-. [Financial year starts from April 1st and ends on next year March 31st]
- Deposit for only 14 years and the maturity age is 21 years. Maturity age means the age at which the account is closed.
- Facility of 50% payment after 18 years of age for the purpose of higher education.
- The account can be closed completely after 18 years of age for marriage purpose. Otherwise, need to wait till maturity period which is till the age of 21 years.
- For example, if you deposit Rs. 1000/- every month for 14 years you will get approximately 6 Lakh Rupees at maturity age (21) considering the current interest rate of 8.60% will continue for all the upcoming years. If you deposit more money, then proportionately you will get more.
- Income tax benefit is available under section 80C.
- This scheme will be having the highest interest rate among all other small saving schemes.
Documents to be submitted for an opening of account:
- Birth Certificate of a girl child, if the birth certificate provided by the hospital does not have the girl name, then please get a proper birth certificate first and then apply.
- 3 passport size photos of child and parent/guardian.
- Identity proof of parent/guardian: Aadhar card/PAN card/Passport etc.
- Residence proof of parent/guardian: Aadhar card/Voter card/Electricity Bill etc.
It is always recommended to visit the bank or post-office for any other queries before opening an account.
List of authorized banks for Sukanya Samriddi Account:
- State Bank of India
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Travancore
- State Bank of Bikaner and Jaipur
- State Bank of Patiala
- Vijaya Bank
- Union Bank
- United Bank of India
- UCO Bank
- Syndicate Bank
- Punjab National Bank
- Punjab and Sind Bank
- Oriental Bank of Commerce
- Indian Overseas Bank
- Indian Bank
- IDBI Bank
- ICICI Bank
- Dena Bank
- Corporation Bank
- Central Bank of India
- Canara Bank
- Bank of Maharashtra
- Bank of India
- Bank of Baroda
- Axis Bank
- Andhra Bank
- Allahabad Bank
The above list of banks is collected as on date May 31st, 2016. Please note the list of banks may increase further in future to support “Sukanya Samriddi Yojana” scheme.