A Natural/ Legal Guardian can open account in the name of the girl child from the birth of the girl child till she attains the age of ten years.
Rs. 1000/- per annum is required to be deposited. The accounts in which minimum deposit is not made are treated as discontinued accounts. Such accounts can be regularised by payment of the minimum deposit of Rs. 1000/- with a penalty of Rs. 50/- for each defaulted year.
Rs. 1.5 Lac can be deposited in a financial year. The amount can be deposited in multiples of hundred on a single occasion or on multiple occasions but should not exceed the maximum limit.
The account shall mature on completion of 21 years.
Income Tax benefit
Deposits under ‘Sukanya Samriddhi Account’ scheme are eligible for Income tax deduction under 80C of Income-tax Act, 1961.
The interest is paid as per the rate declared by Government of lndia from time to time. Present rate of interest is 8.1% p.a. w.e.f. 01.01.2018
Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years to meet the financial requirements of the account holder for the purpose of higher education and marriage.
If account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.
Normal premature closure will be allowed after completion of 18 years of age of account holder, provided that girl is married.