Want to know about the Sukanya Samriddhi Yojana benefits or thinking is Sukanya Samriddhi account good for your girl child? Then read on to find out why you must opt for this savings scheme for girl child.
Sukanya Samriddhi Account New Saving Scheme is one of the best small savings deposit scheme launched by the Government of India. They are doing their best to promote this Sukanya Samriddhi Yojana to the furthest corner of India.
This scheme has a very good noble cause as it will help the parents to secure the future of their girl child by saving on a regular basis. The final confusion about this scheme has also been answered. I am talking about income tax exemption for Sukanya Samriddhi Yojana.
Sukanya Samriddhi Account is now 100% tax free and became an EEE scheme similar to PPF account. In this article I will share top 5 awesome benefits of Sukanya Samriddhi Account which will give you much flexibility to continue this scheme.
Top Sukanya Samriddhi Yojana Benefits
1. First of all I would like to tell that the minimum balance one has to maintain in the SSY account is yearly Rs 1000 only. However, if you wish you can deposit upto 1.5 lakh. Rs 1000 / year will provide you a maturity of a significant value. Checkout the Sukanya Samriddhi Account maturity amount.
Although this may not be a great total to support your kid’s marriage expenses after 21 years, however, it is not bad either. In case one does not deposit this minimum amount of Rs 1000, he/she has to pay a fine of Rs 50, which is very nominal.
2. Opening an SSA Account is indeed very easy. As this is a Govt. scheme, one can easily visit their nearest post office and collect the Sukanya Samriddhi Yojana form and apply. Immediately you will be provided a passbook. Not only in post office, one can open SSA account in any of the bank from the list of authorised banks.
3. Once your girl child turns 10 years of age, she can manage her own account. If you think she will be capable to do that then you can ask her to deposit money regularly. But I don’t understand the meaning of this ownership, as the money will be provided by the guardian only.
Other Benefits of Sukanya Samriddhi Account
4. If the parents/ guardian think that they are not able to maintain or continue Sukanya Samriddhi Scheme, then they can close this account. In that case a valid application with proper justification has to be provided.
5. In case your child is travelling to another city due to study or some other reason, then this account can be transferred to that city. However, one cannot transfer this account from post office to any bank. if you want, you can close the account there and open in your preferred bank like SBI, PNB etc.
So these are the major Sukanya Samriddhi Yojana benefits. In case you have any other question about this scheme, please feel free to share here by writing a comment below, in case you have any.