Sukanya Samriddhi Yojana

Deposit Amount

• Initial Deposit amount: Rs 250/-
• Minimum contribution amount is Rs 250/- and maximum amount is Rs 150,000/- in a financial year
• Deposit can be made any number of times , in multiples of Rs 50/- only
• Passbook/Statement facility available
• Deposit into the account has to be made at least once every year, till completion of 15 years from date of account opening 

Mode of Deposit

• Cash
• Cheques/ Demand drafts
• Internet banking*

*Transfer is permitted to Sukanya Samriddhi account, only from Axis Bank Internet Banking

Tax benefit

• Income tax rebate under Section 80C of the Income tax Act, 1961 shall apply for all deposits made under this scheme
• Interest earned and maturity proceeds are also tax free, as per Finance Bill 2015-16

Interest Rate

• Interest at rates notified by the government on quarterly basis and compounded yearly, shall be credited to the account
• Interest shall be calculated for a calendar month on the lowest balance in the account on the deposits made between the close of the fifth day and the end of the month
• The current rate of interest is 8.2%

Account Operation

• Account has to be operated by natural/legal guardian of girl child, till she reaches the age of 18 years
• The girl child herself can operate her account after the age of 18 years
• Passbook facility is available for this account.

Withdrawal from account

• No withdrawals are permitted till the account holder reaches the age of 18
• After the account holder reaches the age of 18, partial withdrawal upto 50% of the account balance is allowed, to meet education expenses

Premature Closure

• In the event of death of account holder, the account shall be closed immediately on production of death certificate. The balance alongwith interest will be paid to guardian.
• In Certain instances, if the Accounts officer is satisfied that operation or continuation of the account is causing undue hardship to the account holder (such as medical emergencies or death), it may allow pre-mature closure of the account
• If the account holder attains NRI/ PIO status any time prior to the maturity of the account, the account will be closed.

Closure on Maturity of account

• The account will mature on completion of 21 years after account opening, post which it will be closed.
• If the account holder gets married prior to the maturity date of the account, then also the account would be closed. The account holder will have to give an affidavit to the effect that she is not less than 18 years of age as on the date of closure of account.

Other benefits

• The account is transferable anywhere in India
• Passbook facility is free
• No transaction charges are applicable