Sukanya Samriddhi Yojana (SSY) |
sbi sukanya samriddhi yojana interest rate 2020-21|
sukanya samriddhi yojana benefits: Information & Application Form Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the benefit of the girl child that will be implemented in 2021 as part of the “Beti Bachao, Beti Padhao Yojana.” Parents can open up to two such accounts for their daughters (if they have more than two daughters, they cannot open a third/fourth account, etc.). These accounts are valid for 21 years or until the girl kid turns 18 and marries. The Ministry of Finance has given ICICI Bank permission to sell SSY Accounts. Customers can open an account at any ICICI Bank branch by submitting account opening documents.
sukanya samriddhi yojana benefits|
sukanya samriddhi yojana online
- Get more returns than other similar savings scheme Authorised by ministry of finance, it is a Government of India backed savings scheme
- Minimum investment – Rs 250; Maximum investment – Rs 1,50,000 in one financial year Triple Tax Benefit – Principal invested, the interest earned as well as the maturity amount is tax free.
- Attractive interest rate of 7.6%, that is fully exempt from tax under section 80C.
- Maximum investment of Rs. 1,50,000 can be made in one financial year
- If the minimum amount of Rs 1000/- is not deposited in any financial year , a penalty of Rs 50/- will be charged
- Deposits in an account can be made till completion of 14 years, from the date of opening of the account
sbi sukanya samriddhi yojana interest rate 2020-21|Know before you invest
- Returns: Interest rate of 7.6% per annum
- Lock-in period: 21 years from the date of account opening.
- The girl child has to be below the age of 10 at the time of account openin
- Deposits to be made till completion of 15 years, from the date of opening of the account
- Partial withdrawal facility is available after account holder attains 18 years of age
- sukanya samriddhi yojana interest rate 2021Interest rate is subject to change by the Government of India
sukanya samriddhi yojana for nri Document Lists:
- SSY Account Opening Form
- Birth Certificate of girl child (mandatory)
- Identity proof (as per RBI KYC guidelines)
- Residence proof (as per RBI KYC guidelines)
- Premature closure of Sukanya Samriddhi Account
- Premature closure can only be done by a girl child on attaining the age of 18 years for the purpose of marriage expenses. However, there are some special cases under which the account can be closed and the respective amount can be withdrawn:
sukanya samriddhi yojana online|Untimely death of the account holder
- In case the registered girl child unfortunately dies, the parents or the legal guardian are eligible to claim the final amount on the account and accrued interest as well. The amount will be handed over to the nominee of the account immediately. Also, the parents or legal guardian are required to submit the relevant documents verifying the death of the account holder duly attested by the concerned authorities.
Inability to continue the account
If the Central Government issues a directive on the depository’s inability to carry forward the account, the Sukanya Samriddhi account may be prematurely cancelled. If the depositor’s contribution to the account is causing him or her any financial stress, the account can be closed. Furthermore, sufficient clearance from the appropriate authorities must be obtained before the account may be closed and settled.