Children's Day: Alert for doting fathers! Love your daughter? Gift her SBI Online Sukanya Samriddhi Yojana Account - Why it is the best option

SBI SSY ACCOUNT: Here are top benefits provided by SBI SUKANYA SAMRIDDHI  YOJANA ACCOUNT. Noteworthy, many of these benefits are not available in any other government financial scheme:-

Children's Day: Alert for doting fathers! Love your daughter? Gift her SBI Online Sukanya Samriddhi Yojana Account - Why it is the best option
Sukanya Samriddhi Account Maximum number of accounts? Upto two girl children or three in case of twin girls as second birth or the first birth itself results in three girl children
Written By: Prashant Singh
Edited By: Harish Dugh
Updated: Thu, Nov 14, 2019
04:33 pm
ZeeBiz WebDesk
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SBI ONLINE  SUKANYA SAMRIDDHI  YOJANA ACCOUNT: Undoubtedly, parents spend most of their time wondering how to give the best and most stable financial future to their children. They keep searching offline and Googling online to figure out what's the best financial plan to invest in, so that their children reap the maximum benefit. So, we make your financial job easier and suggest to you the best financial plan for your child, if it's a girl - SUKANYA SAMRIDDHI  YOJANA ACCOUNT (SSY). Here are top benefits provided by SBI SUKANYA SAMRIDDHI  YOJANA ACCOUNT. Noteworthy, many of these benefits are not available in any other government financial scheme:-

TOP FEATURES:-

Sukanya Samriddhi Account: Who can open the account?

A natural/ legal guardian on behalf of a girl child

Sukanya Samriddhi Account Maximum number of accounts?

Upto two girl children or three in case of twin girls as second birth or the first birth itself results in three girl children

Sukanya Samriddhi Account: Minimum and Maximum Amount of Deposit?

Minimum and Maximum Amount of Deposit: Min.1000 of initial deposit with multiple of one hundred rupees thereafter with annual ceiling of Rs.150000 in a financial year

Sukanya Samriddhi Account: Tenure of the Deposit?

21 years from the date of opening of the account

Sukanya Samriddhi Account: Maximum period upto which deposits can be made?

15 years from the date of opening of the account.

Sukanya Samriddhi Account: Interest on Deposit?

As notified by the GOI, compounded annually with option for monthly interest pay-outs to be calculated on balance in completed thousands.( Current rate 8.60%w.e.f 1st April, 2016)

Sukanya Samriddhi Account: Income Tax Rebate? 

As applicable under section 80C of the IT Act, 1961. In the latest Finance Bill, the scheme has been extended Triple exempt benefits i.e. there will be no tax on the amount invested, amount earned as interest and amount withdrawn.

Sukanya Samriddhi Account: Premature Closure?

Allowed in the event of death of the depositor or in cases of extreme compassionate grounds such as medical support in life threatening diseases to be authorized by an order by the Central Government

Sukanya Samriddhi Account: Irregular Payment/ Revival of account?

By payment of penalty of Rs. 50 per year alongwith the minimum specified amount per year

Sukanya Samriddhi Account: Mode of Deposit?

 Cash/Cheque/ Demand Draft/ Transfer/ online transfers through internet Banking .

Sukanya Samriddhi Account: SIP?

Standing Instructions can be given either at the Branch or set through Internet Banking for automatic credit to Sukanya Samriddhi Account .

Sukanya Samriddhi Account: Withdrawal?

50% of the balance lying in the account as at the end of previous financial year for the purpose of higher education, marriage after attaining the age of 18 years.

NOTE: As this is a Govt. of India scheme, customers are advised to visit www.nsiindia.gov.in for latest instructions/ modification in the scheme.

SBI SUKANYA SAMRIDDHI ACCOUNT: FACILITY AVAILABLE AT ALL SBI BRANCHES

Sukanya Samriddhi Account

Sukanya Samriddhi Account has been introduced vide Government of India Notification No. G.S.R.863(E) dated December 02, 2014 and circulated to Banks by Reserve Bank of India vide their letter No.RBI/2014-15/494/IDMD(DGBA).CDD/No.4052/15.02.006/2014-15 dated 11th March 2015. Facility to open accounts under the scheme is now available at all SBI branches.