INSUBCONTINENT EXCLUSIVE:
Daughter's Day 2018: The government has raised interest rates offered on the Sukanya Samriddhi Scheme.It's Daughter's Day today and
the best gift that you can possibly gift your girl child is a financial security plan to make her present and future secure
The Sukanya Samriddhi Yojana is a savings scheme run by the government for girl children
The government this week increased interest rates offered on the Sukanya Samriddhi Scheme to 8.5 per cent per annum from 8.1 per cent
Earlier, the government had also reduced the minimum deposit on Sukanya Samriddhi accounts to Rs 250 from Rs 1,000.So, this is the best gift
that you can give your daughter today because it prepares her to face the challenges of life later when she turns into an adult.Where to
open a Sukanya Samriddhi accountSukanya Samriddhi accounts can be opened in leading banks and post offices across the country.How to open
Sukanya Samriddhi accounts:The Sukanya Samriddhi account can be opened by a natural or legal guardian in the name of a girl child
The period during which the Sukanya Samriddhi account can be opened is from the birth of the girl child until the age of 10 years.You can
open and operate only one account in the name of a girl child
The natural or legal guardian of a girl child can be allowed to open the account for a maximum of two girl children only
A third account in the name of a girl child can be opened in the event of birth of twin girls, as second birth or if the first birth itself
results in three girl children.Deposits in Sukanya Samriddhi accounts:The deposits in the account may be made until the completion of
fourteen years, from the date of opening of the account
However, the account can be closed after completion of 21 years.Minimum and maximum balance in Sukanya Samriddhi Yojana accountsYou need to
deposit a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year
The subsequent deposits in the account can be made in multiples of Rs 100
Deposits can be made in lump-sum
There is no limit on the number of deposits either in a month or in a financial year.Partial withdrawal from Sukanya Samriddhi Yojana
accountsPartial withdrawals, subject to up to 50 per cent of the balance standing at the end of the preceding financial year, can be
withdrawn after the account holder attains 18 years of age.Closure of Sukanya Samriddhi Yojana accountsA normal premature closure is allowed
after completion of 18 years? only if the girl is married.Interest rate on Sukanya Samriddhi Yojana accountsInterest rates on small savings
schemes like Sukanya Samriddhi Yojana change every quarter
The interest rate on Sukanya Samriddhi Scheme for the quarter ending December 2018 is fixed at 8.5 per cent.Income tax benefit on Sukanya
Samriddhi Scheme accounts:The deposits made to the account, and also the proceeds and maturity amount are fully exempt from tax under
