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Sukanya Samriddhi Account

Prime Minister Narendra Modi in January this year launched a small deposit scheme for the girl child, as part of the 'Beti Bachao Beti Padhao' campaign. This scheme is specially designed for girls' higher education or marriage needs.


(a) SSA is a small savings scheme under which an account can be opened for the girl child at any            time from her birth till the age of 10 in post offices or authorised branches of banks.
(b) The minimum deposit is 1,000 and maximumis 1,50,000 in a financial year. The deposit has to be       made till the end of 14 years from the year of opening of an account.
(c) The account can be closed after the girlturns 21 years or after completion of 18 years provided             that she is married.
(d) The rate of interest will be notified yearly by the government, which will be compounded.For             2014-15, the deposit will fetch an interestof 9.1% per annum.
(e) The amount deposited towards SukanyaSamriddhi Account is deductible underSection 80C upto        1.5 lakh.


Opening of account:  Only one account is allowed per girl child. Parents can open this account for a maximum of two children. In case of twins or triplets, this facility will be extended to the third child.

Age: The maximum age limit of the girl child for opening this account is 10 years.

Interest rate: For 2014-15, the government would be paying 9.1 per cent interest.

Transferability: The account may be transferred anywhere in India if the girl child in whose name the account stands shifts to a place other than the city or locality where the account stands.

Deposits: The account may be opened with an initial deposit of Rs 1,000 and thereafter any amount in multiple of Rs 100 can be deposited.The minimum deposit  is Rs 1,000 and maximum Rs 1.5 lakh.

Penalty: An account where minimum amount has not been deposited in a particular year will attract a fine of Rs 50 per year.

Withdrawal: After the girl child attains the age of 18 years, 50 per cent of the money can be withdrawn for the higher studies.

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