SUKANYA SAMRIDDHI ACCOUNT

===========================
Sukanya Samriddhi Yojana has been introduced on dated 11th March 2015.

Objective: To promote the welfare of Girl Child
Who can open the account: A natural/ legal guardian on behalf of a girl child
Maximum number of accounts: Upto two girl children or three in
case of twin girls as second birth or the first birth itself results in
three girl children
Minimum and Maximum Amount of Deposit: Min.1000 of initial
deposit with multiple of one hundred rupees thereafter with
annual ceiling of Rs.150000 in a financial year
Tenure of the Deposit: 21 years from the date of opening of the
account
Maximum period upto which deposits can be made: 14 years from
the date of opening of the account
Interest on Deposit: As notified by the GOI, compounded annually
with option for monthly interest pay-outs to be calculated on
balance in completed thousands.( Current rate 9.20%)
Tax Rebate: As applicable under section 80C of the IT Act, 1961.
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
Irregular Payment/ Revival of account: By payment of penalty of
Rs.50 per year alongwith the minimum specified amount per year
Mode of Deposit: Cash/Cheque/ Demand Draft
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.