Sukanya Samriddhi Yojana, deposit Rs 1000 every month, you will get returns of three lakhs, know the benefits…

New Delhi:- Sukanya Samriddhi Yojana was launched by the Government of India on 22 January 2015. Its objective is to provide financial security to daughters. Parents can invest in the name of daughters for their secure future.

According to the rules, parents or guardians can open an account in the name of the girl child under Sukanya Samriddhi Yojana from the time she is born till she is 10 years old. In case a parent has twin daughters for the second time, he can open an account in the name of maximum three daughters.

At present there is no facility to open online account under this scheme. For this you will have to go to the bank or post office. Once the account is opened, you can manage it online.

How much return will you get on depositing Rs 1000 per month?

If you deposit Rs 1000 every month in the account opened under Sukanya Samriddhi Yojana, then a total of Rs 12000 will be deposited in a year. Similarly, a total of Rs 1.8 lakh will be deposited in 15 years. With estimated interest, this amount will total Rs 3.4 lakh in 15 years. When the account matures, this amount will be a little more than Rs 5 lakh. That means you will get a return of around Rs 3 lakh.
Minimum and Maximum Deposit Amount
The guardian has to deposit a minimum initial deposit of Rs 250 in a year. Whereas a maximum of Rs 1,50,000 can be deposited in a financial year.

Parents can deposit money in the girl child's account from the date of account opening till she completes 21 years of age. Maximum period of deposit is 15 years from the date of account opening.

If you are not able to deposit the minimum amount in any year, you can open the account with the minimum amount by paying a penalty of Rs 50 per year. The Government of India declares the interest rate on the amount deposited in the account on quarterly basis. Parents can avail income tax exemption under Section 80C of the Income Tax Act, 1961.

Can the account be closed prematurely?

Closure of accounts is permitted on grounds such as medical assistance in the event of death of the depositor or in case of life threatening illnesses authorized by order of the Central Government.

premature withdrawal

After the girl turns 18, she can withdraw 50 percent of the amount deposited in the account at the end of the previous financial year for the purpose of higher education and marriage.

Key points of the scheme

Minimum deposit amount Rs 250

Maximum deposit amount Rs 1.5 lakh

An account can be opened till the age of 10 years of the girl child.

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

Accounts can be opened in post offices and authorized banks.

Withdrawal permission for the purpose of higher education.

In case of marriage of the girl child after 18 years of age, the account can be closed prematurely.

Sukanya Samriddhi account can be transferred from one post office or bank to another post office or bank anywhere in India.

The account will mature on completion of 21 years from the date of account opening.

Income tax exemption on deposits under Section 80-C of the Income Tax Act.

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