Sukanya Samriddhi Yojana is a saving scheme initiated by the Government of India and was launched by the Prime Minister of India, Mr. Narendra Modi on 22 January 2015 under the Beti Bachao, Beti Padhao campaign by the Ministry of Women and Child Development.
Sukanya Samriddhi Yojana scheme aims at the parents of girl children. The funds required to raise a girl child with proper education and marriage expenses are built under this scheme. This scheme became very popular with time due to the benefits of tax.
In the Budget of 2015, Sukanya Samriddhi Yojana scheme wasdeclared as an Exempt-Exempt-Exempt (EEE) scheme.The tax advantage of 1.5 lakh rupees comes with under the 80C section of Income tax. Certain amounts like interest and maturity types are exempted from the tax slab.
What encourages the parents of girl children is the Sukanya Samriddhi Yojana interest rate.
It is admirable that the government of India is taking such measures to encourage girl education and steps for the progress of girl children. It is like an insurance and security of the girl for her future education and marriage expenses. Sukanya Smariddhi Yojana can be opened in post offices or private and public banks with the name of the girl child in the form of a savings bank account.
If you are a parent who is looking forward to investing in Sukanya Samriddhi Yojana and Sukanya Samriddhi Yojana details for your girl child education and marriage expenses, this article will be useful.
All the features and Sukanya Samriddhi Yojana details are described below:
Once the account is opened, a passbook will be issued to the depositor. The below information will be mentioned in the passbook:
a. Name of the girl child
b. Date of opening of the bank account
c. Date of birth of the girl child
d. Address
e. Amount that has been deposited
Cases of Premature closure of the account
Withdrawal Rules of Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana Calculator will take the below inputs from you:
Output:
Lets see the Sukanya Samriddhi Yojana Calculatorin much more detail;
Once you satisfy the eligibility criteria, the calculator will ask your input for the age of your daughter and the amount you are willing to invest in the scheme. The minimum and maximum amounts are Rs 250 and Rs 1.5 lakh respectively in a single financial year.
As you put up the amount, the calculator will calculate the approx value of the amount that can be processed in the maturity period. That means when the girl age goes beyond 21 commencing from account registration date. The creditor has to make sure to deposit every year up to continuously 15 years starting from the account opening date.
No deposition has to be made in the period between 15 and 21 year. Interests will be provided on the deposits which were made earlier.
The calculator will display the year in which the account will mature, the value of maturity, interest rate and the breakup of the amount which can be invested monthly in the scheme.
The biggest advantage of the Sukanya Samriddhi Yojana calculator is you can see and analyse the amount, and can check on the calculator before deciding the amount to deposit.
Sukanya Samriddhi Yojana application form is available online as well on the websites of all the private banks and government portal. The parents/guardian can download this from and apply. However the form has to be submitted online.
Sukanya Samriddhi Yojana SBI also lets you download forms from its website. If the parents are unable to download it, they can visit the post office/banks of their regions to open up the account.
For the payment, there are three options:
Sukanya Samriddhi Yojna is a small deposit scheme for girl children which was launched on 22 January 2015 as a part of the ‘Beti Bachao Beti Padhao’ campaign.
To open a sukanya samriddhi yojana account, you can visit private banks/post offices in your region and fill up the form with the necessary documents.
You will have to first download the form from the government portal, fill out the form and carry all the necessary documents and submit this application to the post office.
Fill out the form and keep the necessary documents along with the photograph ready.
Login to your Netbanking account and then add Payee account Sukanya Samriddhi account details and then you can proceed to transfer funds as you do in normal transactions.
Sukanya Samriddhi Yojana comes under the section 80C.
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