Sukanya Samriddhi Yojana: The rules of Sukanya Samriddhi Yojana have changed from today, now these daughters will get benefits, know full details

Sukanya Samriddhi Yojana is a popular savings scheme in the Government Small Saving Scheme category. If you have a girl child below 10 years of age in your house, then you can open an account in her name.

The central government has made 5 major changes related to Sukanya Samriddhi Yojana. After the change, investment in this scheme has been made easier. This is a better opportunity for those parents who have a girl child below 10 years of age in their house. Let us know, what changes have happened in the SSY scheme?

1. Now there will be no account default

Sukanya Samriddhi Yojana has a provision to deposit at least Rs 250 and maximum Rs 1.5 lakh every year. Earlier, the account used to default if the minimum amount was not deposited. But now this will not happen. Now, if the account is not reactivated, interest will continue to be earned at the applicable rate on the amount deposited in the account till maturity.

2. Tax exemption on the account of the third daughter also

Earlier, in this scheme, there was a provision of tax exemption under 80C on the account of two daughters. It was of no use to the third daughter. But now if there are two twin daughters after one daughter, then there is a provision to open an account for both of them also, and tax exemption will be available.

3. Now at the age of 18, the girl will be able to operate the account

According to the earlier rule, when the daughter completes 10 years of age, she could operate her own account. But now the daughter will get the right to operate only after the age of 18 years. Before this, the guardian of the daughter will be able to operate this account.

4. Now it is easy to close the account

Sukanya Samriddhi Yojana’s account could be closed earlier if the daughter passed away or her address changed. But now even if the account holders get a fatal disease, the account can be closed. Even if the guardian passes away, the account can be closed before maturity.

5. Interest will be received on time

Under the new rules, the provision to reverse wrong interest in the account has been removed. In addition, the annual interest on the account will be credited at the end of every financial year.

The Modi government had started the Sukanya Samriddhi Yojana in the year 2015 under the ‘Beti Bachao-Beti Padhao’ campaign. Sukanya Samriddhi Yojana interest rate is raised to 8% from 7.6% for this April-June quarter

Where will SSY account be opened?

Under Sukanya Samriddhi Yojana, applicants can open an account in the name of their daughter in any bank or post office. Under Sukanya Samriddhi Yojana, you can open an account in the name of your daughter with a minimum amount of Rs 250. While a maximum of Rs 1.5 lakh can be deposited annually in this scheme.

What are the documents to be given?

To open an account under Sukanya Samriddhi Yojana, the applicant will also have to submit the birth certificate of his daughter to the post office or bank along with the form. Apart from this, the identity card of the girl child and parents (PAN card, ration card, driving license, passport) and the certificate of where she is living (passport, ration card, electricity bill, telephone bill, water bill) will have to be submitted.

When does Sukanya Samriddhi Yojana scheme mature?

The amount deposited under Sukanya Samriddhi Yojana becomes mature when the girl child turns 21 years old. That is, you can withdraw money after 21 years. However, if the daughter gets married after the age of 18, then the money can be withdrawn. Apart from this, after the age of 18, up to 50 percent of the money can be withdrawn for the education of the daughter.


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