Uncategorized

Pradhan Mantri Sukanya Samriddhi Yojana, Merits of Sukanya Samriddhi Yojana 2019

In order to provide a better future to a girl child there are various schemes which are announced in India. The objective behind introducing the scheme is to provide a standard of living to a girl child so she may not be depend on others for her basic needs. In a world like today it is also very important for every individual even more for a girl child to educate and be independent. Thus, in order to benefit them government announces different schemes every time. In this article we will learn more about this scheme. Hence, go through the article to learn more and more.

What is Pradhan Mantri Sukanya Samriddhi Yojana?

The scheme has been introduced by the Prime Minister Mr. Narendra Modi on 22nd January 2015. However, the main objective behind introducing this scheme is to provide a better lifestyle a better future to the girl child. The scheme Sukanya Samriddhi Yojana is the part of the Beti Padhao Beti Bachao Yojana. Under the scheme government provides various measures to the girl parents to save funds for her future further studies as well as for the marriage expenses. The scheme also provides interest rate near about 8.4% along with the tax benefits. People can easily open the account at any post office as well as the branch of the authorized commercial banks.

Thus, we can conclude that it is one of the best schemes which is introduced by our Prime Minister. If the parents of a girl child walk accordingly to the scheme they can surely provide a better future and lifestyle to their girl child. Let’s learn about the various features of this scheme.

Key Features of Sukanya Samriddhi Yojana:

There are various numbers of features as well as benefits are hidden under this scheme. In order to learn the whole go through the steps. The features are as follows:

  • Under this scheme parent as well as guardian of a girl child can easily open the bank account of their girl child. However, if you have two daughters then it is essential for you to open twin account. Well you cannot open multiple account for a single girl child.
  • If a couple is a biological parent of a girl child then they are also considered as the legal guardian. Thus, there is no stoppage for them to open a bank account, like others they can also open a bank account for their girl child.
  • If you are opening a bank account for your girl child then it is essential that her age must be 10 years and above. If her age is less than ten years you cannot open bank account for your child.
  • Due to the monthly deposit there will be lots of amount available in the bank account. Thus, after the age of 18 years if a girl want to withdraw some amount for her studies then she can easily withdraw 50% of the total saving. However, after the age of the 21 years the girl can easily withdraw the full amount for her marriage purpose.
  • The respected parents as well as the guardians can easily invest under this scheme with the help of the post office branches as well as the public and private sector banks. For this it is essential for you to submit few documents such as passport, aadhaar card etc.
  • You can easily download the application form of this scheme with the help of the various sources such as- RBI (reserve bank of India), public sector banks ( state bank of India, Punjab national bank, Bank of Baroda), private sector banks ( ICICI Banks, Axis bank and HDFC Bank) etc.
  • In the bank account it is essential that the amount must be deposited for the almost 14 years. However, the minimum amount which you are required to deposit per year is near about rupees 1000, and maximum to maximum you can deposit around rupees 1,50,000.
  • The interest rate in this Yojana is changed every year. However, the rate is being decided by the government currently it is around 8.6%.
  • If due to any condition the girl child looses her life then the account will automatically get closed. However, apart from this if the girl child gets married before the 21 years then in this case also the account will be closed.
  • If the parents as well as the guardian of the girl child fails to pay the premium then in this condition also the account will get closed. This scheme will only provide benefit to the girl child who is born in India. However, the scheme also provides electronic transfer-ability to its respected applicant.
  • In order to open a bank account of the girl child it is essential for you to provide her birth certificate as well as photo identity proof along with the aadhaar card. All these documents are required in order to open a bank account.
  • Firstly the scheme offers interest rate near about 9.1% but then it gets reduced to the 8.6%. This interest rate is been decided by the government of India.

Benefits for Sukanya Samriddhi Yojana:

  • Under this you will get high interest rate.
  • You can easily save money as well as tax.
  • The account is easily transferable through post office or commercial banks.
  • You can deposit small amount in the account per month.
  • You can also have long term investment under this.
  • This will help you to save your child educational expenses.

How to fill Sukanya Samriddhi Yojana online application:

The applicants under this scheme are required to submit some data as well as key information regarding the girl child by whose name the account is going to open. These investments will be made under the Beti Bachao Beti Padhao Yojana. The details of the guarding as well as parents are also required. Given below is the detail information through which you can fill the form.

  • Name of a girl child (account holder)
  • Name of the joint holder (parents/guardians)
  • Deposited amount
  • Cheque/DD
  • Birth certificate of the account holder
  • ID details of the parents/guardians.
  • Present permanent address.
  • Details of the KYC documents

By filling all these details you are required to submit the form to the post office or to the any other commercial bank in order to open the account.