Sukanya Samriddhi Account :

To promote the welfare of Girl Child, Govt. Of India have introduced the Sukanya Samriddhi Accounts at all nationalized banks and some private banks and post offices

Salient features of the scheme are given below :

Ø  Rate of interest  is 8.6% Per Annum (w.e.f. 1-4-2016),calculated on yearly basis ,Yearly compounded.

Ø  Minimum deposit of `1000/-and maximum deposit of `1,50,000/- in a financial year. Subsequent deposit in multiple of `100/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year

Ø  A legal Guardian/Natural Guardian can open account in the name of Girl Child.

Ø  A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different girl children.

Ø  Account can be opened up to age of 10 years only from the date of birth.

Ø  Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after account holder’s i.e. the girl child attaining age of 18 years.

Ø  Account can be closed after completion of 21 years.

Ø  If account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.

Ø  Normal Premature closure will be allowed after completion of 18 years provided that girl is married.

Ø  The investments made to this scheme is eligible for Tax Rebate under Sec 80C and the interest earned is completely tax free.

We highly recommend this product to all eligible girl child parents

For more details visit
https://india.gov.in/sukanya-samriddhi-yojna
https://en.wikipedia.org/wiki/Sukanya_Samriddhi_Account