- One account allowed per girl child and maximum two accounts allowed in a family* *(Natural or legal guardian of a girl child shall be allowed to open the account for two girl children only. Provided that the natural or legal guardian of the girl child shall be allowed to open 3rd account in the event of birth of twin girls as second birth or if the first birth itself results into three girl children, on production of a certificate to this effect from competent medical authorities where the birth of such twin or triple girl children takes place).
- The account to be opened with a minimum initial deposit of Rs. 1,000 and thereafter any amount in multiples of Rs. 100 can be deposited in an account subject to the condition that a minimum of Rs. 1,000 shall be deposited in a financial year in the account.
- Amount can be deposits in multiple of Rs. 100 subject to Maximum Limit of Rs.1,50,000 per Financial Year.
- Deposits in an account can be made till completion of 15 years, from the date of opening of account.
Mode of Deposit: You can use Cash, Cheque, Demand Draft, Fund Transfer.
Interest rate for this account is as mentioned below for FY 2017-18, calculated on yearly basis, yearly compounded (subject to change as per notification issued by Central Government).
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- Passbook/ Statement facility available
- Interest earned on account will be tax exempted as per Finance Bill 2015-16.
- Partial withdrawal up to 50% of the account balance is allowed to meet education/marriage expenses of the girl child after she attains 18 years of age. The account will remain operative for 21 years from the date of opening of the account or till marriage of the girl child.