Features of Sukanya Samriddhi Account
- This account is only for Minor Girl Child. It can be opened by Natural or Legal Guardian of minor girl child.
- Only one account per girl child is allowed.
- Age of minor girl child should not be more than 10 years at the time of account opening. For financial year 2014-15, one year relaxation has been provided.
- Minimum amount to be deposited every year is INR 500/-.
- Maximum amount that can be deposited every year is INR 1,50,000/-.
- Amount to be deposited for 14 years from the date of opening of account.
- Deposit made is deductible u/s 80C.
- Interest rate to be notified every year by the Govt. For F.Y. 2014-15, interest rate is 9.10%
- 50% of amount can be withdrawn for higher studies of girl child or for her marriage after she has completed 18 years of age.
- No loan is available on this account.
- Maturity date is 21 years from the date of opening of account or date of her marriage whichever is earlier.
- Account shall be closed premature in case of death of girl child.
- Account can be opened in Authorized Banks and Post Office.
Must read : Sukanya Samriddhi Account Vs PPF