Sukanya Samriddhi Yojana: Government-supported Sukanya Samriddhi Yojana (SSY) permits untimely conclusion of the account following five years. Be that as it may, the account can be shut exclusively on satisfaction of specific circumstances.
The Sukanya Samriddhi Yojana was sent off as a feature of government’s ‘Beti Bachao Beti Badhao’ crusade. The small savings plan can be opened to for a girl kid to help her meet her monetary requirements including schooling and marriage. The plan is as of now offering interest rate of 7.6 percent per annum.
A Sukanya Samriddhi Account (SSA) can be shut be close following five years of account opening on satisfaction of following circumstances:
- On the passing of account holder, says the Department of post site.
- On outrageous merciful grounds.
- Perilous perish of a/c holder.
- Passing of the guardian by whom account was worked.
- The SSA can be opened in any post office or bank. The interest rate will be effective from date of death to date of payment.
To rashly close the SSA, complete documentation and application is required where the guardian of the account holder. The guardian of the girl kid holding SSA should submit endorsed application form alongside pass book at concerned Post Office.
The maturity time of a SSA is a long time from the date of account opening or at the hour of marriage of girl kid subsequent to achieving age of 18 years (multi month prior or multi month after date of marriage).
The account can be opened with a minimum sum of Rs 25 0 or a limit of Rs 150,000 in a monetary year. The deposits can be made in products of Rs 50. Deposits can be made in single amount as well. There is no restriction on number of deposits either in a month or in a monetary year.
The plan additionally offers tax reductions under Section 80C of the Income Tax Act.
