NAME : Sukanya Samruddhi Yojana
TYPE OF YOJANA : Small Saving Bank Account scheme with special benefits attached to it to support Beti Bachao Beti Padhao Abhiyaan.
MINISTRY : Department of Economic Affairs, Ministry of Finance
WEBSITE : N/A
PURPOSE : In India, a Girl child is considered as a Financial Burden especially because of dowry practice. So when a girl child is born she is considered as burden on family parents start worrying about how to provide for her education and expenses of her marriage. Through Sukanya Samriddhi Account, Govt. is trying to help the parents of the girl child give a social message that Girl Child is not a financial burden if parents of a Girl child secure her future through proper financial planning and through small savings.
BENEFITS OF YOJANA : Highest interest rate is given on SSY Account among all the small saving schemes by Government of India.
- Exemption u/s 80 ( C ) is given for the contribution made to this account.
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This account has a lock in period of minimum 18 years up to which period no withdrawal is permitted. The maturity of the account is at 21 years of age of the girl child or at the time of her marriage after 18 years. This account cannot be operated after marriage of the girl child.
LAUNCHING DETAILS : This scheme was launched by Hon. Shri Narendra Modi On 22nd January 2015 as part of Beti Bachao Beti Padhao Campaign in Panipat, Haryana.
HOW TO PARTICIPATE : An account under this scheme can be opened from the date of birth of a girl child up to the age of 10 years. The account is opened in the name of the Girl child with name of her parents as Minor Guardians.
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The account can be opened in Post Office and 28 Nationalized and commercial banks authorized by Government in this behalf.
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Annually a minimum deposit of Rs. 1000/- and a maximum deposit of Rs.150000/- is allowed under this scheme.
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Interest @ 8.5 % p.a is given on this account, which is highest in the small saving schemes.
BENEFICIARIES : All girls up to the age of 10 years of their age are the beneficiaries of this scheme. Parents of the Girl Child can make savings for education and marriage of their Girl Child.