Particulars Sukanya Samriddhi Account (SSA) Public Provident Fund (PPF) Who can open Only girl child Indian Citizen Where to open Post office and Authorized Banks Post office, Govt. Banks and some private banks Minimum Contribution per year INR 1,000 INR 500 Maximum Contribution per year INR 1,50,000 INR 1,50,000 Maximum no. of contribution No limit…
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…
Link to Download Notification Sukanya Samriddhi Account Rules, 2014 In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules, namely:— Short title and commencement 1. (1) These rules may be called the Sukanya Samriddhi Account Rules, 2014. (2)…
There are following types of Bank Accounts: Current Account Savings Account Recurring Deposit Account Term Deposit or Fixed Deposit Current Accounts are meant for businessmen and are not used for the purpose of investment or savings. These deposits are the most liquid deposits and there are no limits for number of transactions or the amount…
NSC is a mean to save tax for tax payers. It has again been introduced by the Govt. Features are There is no maximum limit for investment. A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. Maturity value of a certificate…
NPS is a pension scheme introduced by Govt. of India on 1st Jan-2004. This pension scheme is regulated by PFRDA (Pension Fund Regulatory and Development Authority). Initially, NPS was introduced for the new government recruits (except armed forces). National Pension System was extended to all citizens of India on a voluntary basis on 1st May-2009.…
CREDIT INFORMATION BUREAU (INDIA) LIMITED (CIBIL) is an Indian credit rating agency. It provides credit rating score between 300 to 900 related to the credit and financial health of an organisation or individual. This score is based on credit history of the person. CIBIL produces a report called Credit Information Report (CIR) based on the…