Sukanya Samriddhi Yojana Account Scheme: Age, a/c opening, amount, interest rate, maturity, time period and other important details

PM Narendra Modi-led government had launched Sukanya Samriddhi Account Scheme in January 2015. Modi government had said that despite being a small savings scheme, the Sukanya Samriddhi Account has the potential to have a phenomenal impact on the lives and self-esteem of young girls in the country. The scheme aims to ensure a bright future for the girl children by facilitating their education and marriage expenses.

Under the scheme, a parent or legal guardian can open an account in the name of the girl child before she attains the age of ten years. As per the government notification on the Scheme, the account can be opened in any post office branch and designated public sector banks. Here are top things to know about Sukanya Samriddhi Account Scheme:-

-Account can be opened in the name of a girl child till she attains the age of 10 years.

-Only one account can be opened in the name of a girl child.

-Account can be opened in Post office and branches of authorised banks.

-Birth certificate of girl child in whose name the account is opened must be submitted.

-Account can be opened with a minimum of Rs. 250/- and thereafter any amount in multiple of Rs. 100/- can be deposited. A minimum of Rs. 250/- must be deposited in a Financial year.

- Maximum Rs. 1,50,000/- can be deposited in a financial year.

- Interest @ as may be notified by the government from time to time will be calculated on yearly compounded basis and credited to the account.

-One withdrawal shall be allowed on attaining the age of 18 years of account holder to meet education expenses upto 50 % of the balance at the credit of preceding financial year.

-The account can be transferred anywhere in India from one post office/bank to another.

-The account shall mature on completion of 21 years from the date of opening of account or on the marriage of Account holder whichever is earlier.