Sukanya Samriddhi Accounts
The Sukanya Samriddhi Yojana Account is an initiative
started by the Government of India with the view of helping the girl child.
According to the scheme parents of a girl child can deposit up to 1.5 lakhs in
the name of the girl in this account every year. Once the deposit is made it
accrues interest at the rate of 9.2% per annum and is set to mature when the
girl turns 21 years old or get married, whichever comes first. The account can
be opened with a minimum deposit of Rs. 1,000 and subsequent deposits can be
multiples of Rs. 100. The account even allows for a partial withdrawal to be
made when the girl turns 18 years old to support payments towards expenses for
her education or even her marriage. Another advantage of this scheme is that
investments in it need to be made only for 14 years after which none are
required and the amount at credit at the end of 14 years will continue to
gather interest till the scheme matures.
How
to Open the Sukanya Samriddhi Account?
1. Guardian to
open the account: The account can be opened only by parents or legal
guardians for up to two girl children. In case of twins or triplets, an
exemption will be made on production of a certificate from authorized medical
institutions.
2. Age
Eligibility: A Sukanya Samriddhi account can be opened for a girl child
till she attains the age of 10. The scheme started from 2 December, 2014. An
initial grace period of one year has been announced for convenience. A girl
child, who is born between 2 December, 2003 and 1 December, 2004, can open
account by 1 December, 2015.
3. Residence:
The girl child should be an Indian resident throughout the term of the scheme.
4. Account in the name of the beneficiary: Sukanya Samriddhi Scheme can only be opened in the name of the girl child. The
depositor (guardian) will be an individual, who deposits amount in the account
on behalf of the minor girl child.
5. One Girl One
Account: Only one account can be opened per girl child. Account can be
opened for Maximum of two girl children in one family.
Advantages
of Sukanya Samriddhi Account calculator
·
It allows you to know exactly what you
will get as the maturity value when the account matures.
·
If you have set it up in an excel sheet
then you can put in what you intend to invest in the current and see how it
will affect the maturity value.
·
You can even set up the calculator to
calculate the maturity value based on monthly or yearly investments.
·
If configured correctly, the Sukanya
Samriddhi Yojana calculator can be extremely accurate.
·
It can eliminate the mistakes that can
creep in if you calculate the maturity value manually.
·
You can change the amount you plan on
investing at any time and still get the maturity value in seconds.
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