Want to know about the benefits of Sukanya Samriddhi Account scheme or thinking is sukanya samriddhi account beneficial for your girl child? Then read on to find out why you must opt for this child saving scheme.
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 Account to the furthest corner of India.
This scheme has a very good noble cause as it will help parents to secure the future of their girl child by saving regularly. After Budget 2015, 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 features of SSA Account which will give much flexibility to handle this.
Top Benefits of Sukanya Samriddhi Account Scheme
1. First of all I would like to tell that the minimum balance one has to maintain in the SSA Yojana account is yearly Rs 1000 only. If you want you can deposit max 1.5 lakh. Rs 1000 / year will provide you a maturity value of Rs 60,713.
Although this may not be a good total to support your kid’s marriage expenses after 21 years. 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 will be 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 Sukanya Samriddhi Account opening banks list.
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.
Also Read: Sukanya Samriddhi Account 80C Benefits
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. But it is not clear so far whether one can transfer this account from post office to any bank or not.
Also read the new Sukanya Samriddhi Account Amendments 2016 for updates on this.
There are many questions and information yet to come for this Sukanya Samriddhi Account New Saving Scheme. If you have any question, then please share here by writing a comment below.