See complete information about Sukanya Samriddhi Yojana 2023 from here
09 Sep 2023 | 3:16 AM
See the complete information on Sukanya Samriddhi Yojana 2023 here: Various types of savings schemes are run by the government for the convenience of the people. Among these, the best scheme for daughters is the Sukanya Samriddhi Yojana 2023. This savings scheme has been started under the 'Beti Bachao, Beti Padhao' campaign. Accounts under the Sukanya Samriddhi Yojana 2023 can be opened at any post office or scheduled government bank. We are providing complete information about the Sukanya Samriddhi Yojana 2023 here.
Account Holder Eligibility: Parents or legal guardians can open an account in the name of their daughter under the Sukanya Samriddhi Yojana 2023.
Age Limit: The account can be opened for daughters from birth up to 10 years of age.
Account Opening Locations: Accounts can be opened in any government bank or post office.
Interest Rate: As of the current financial year 2023-24, the interest rate for the Sukanya Samriddhi Yojana is 8.0% per annum.
Interest Rate Revision: The interest rates for the scheme are determined annually, and for the financial year 2023-24, it is 8%.
Minimum Deposit: The account can be opened with a minimum deposit of Rs. 250.
Maximum Deposit: Deposits can range from a minimum of Rs. 250 per year to a maximum of Rs. 1.5 lakh per year.
Maturity Period: The scheme has a maturity period of 21 years from the date of opening or until the marriage of the daughter, whichever is earlier.
Partial Withdrawal: Partial withdrawals are allowed after the girl reaches 18 years of age, up to 50% of the balance at the end of the preceding financial year.
Tax Benefits: Contributions to the Sukanya Samriddhi Yojana are eligible for income tax benefits under Section 80C of the Income Tax Act.
Account Closure: The account can be closed after the girl's marriage, provided she is 18 years or older at the time of marriage.
Penalty for Non-Deposit: If the minimum deposit is not made in any financial year, the account is considered irregular, and a penalty is imposed to regularize it.
Transfer of Account: The account can be transferred to another location within India if needed.
Account Extension: If the account is not closed after maturity, it will continue to earn interest at the prevailing rate until the account is closed.
Sukanya Samriddhi Yojana 2023 Other Features
Minimum and Maximum Deposit: A minimum of ₹250 and a maximum of ₹1.5 lakh can be deposited annually. This amount must be deposited for 15 years.
Maturity: The account matures after 21 years from the date of opening or upon the daughter's marriage, whichever is earlier.
Interest on Matured Accounts: If the account isn't closed after maturity, it continues to earn interest on the balance.
Account Closure on Marriage: If the daughter's marriage occurs before she turns 21, the account automatically closes.
Initial Deposit Period: Deposits are required to be made for the first 15 years from the date of opening. After this period, the deposited amount continues to earn interest.
Withdrawal on Maturity: The daughter can withdraw the entire amount upon reaching maturity, provided she is 18 years or older.
Partial Withdrawals: After the daughter turns 18 or completes her 10th grade, up to 50% of the balance can be withdrawn in a lump sum or in installments.
Tax Benefits: The Sukanya Samriddhi Yojana falls under the EEE (Exempt-Exempt-Exempt) tax regime, meaning the invested amount, interest earned, and maturity amount are all tax-free.
Required Documents
Birth certificate of the girl child.
Aadhaar card, domicile certificate, voter ID card, ration card, driving license, electricity or telephone bill etc. of the girl's parent or legal guardian.
PAN card.
Sukanya Samriddhi Yojana 2023 Calculator
Minimum Age: 21 Years
Maximum Age: 30 Years
Calculation of Age: As on 1 January 2024.
Reserved categories are given relaxation in the maximum age limit as per the rules of the government.
