Sukanya Samriddhi Yojana 2021: Various types of savings schemes are operated by the government to make the future of daughters bright and secure. Income tax exemption and higher interest rates are provided on these savings schemes. So that people can be encouraged to invest in these schemes and the future of daughters can be secured. Today we are going to provide you with information related to one such scheme started by the Central Government. Whose name is Sukanya Samriddhi Yojana.
Through this scheme, the beneficiary can invest a lump sum amount for the daughter’s education or marriage. You will get all the important information related to this scheme. Such as its purpose, benefits, features, eligibility, important documents, the application process, etc. If you want to get important information related to Sukanya Samriddhi Yojana, then you read our article till the end.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana has been launched by the Government of India. This is a savings plan. To get the benefits under this scheme, the account has to be opened before the daughter attains the age of 10 years. The minimum investment limit in this account is ₹250 and the maximum limit is ₹1.5 lakh. This investment can be made for a daughter’s higher education or marriage.
Through this scheme, interest at the rate of 7.6% will be provided by the government on the investment. Apart from this, tax exemption will also be provided on investing under this scheme. This scheme is a small savings scheme launched by the Central Government. This scheme has been launched under the Beti Bachao Beti Padhao scheme.
The account under this scheme can be opened in any authorized branch of the post office or commercial branch. Sukanya Samriddhi Account can be operated till the daughter attains the age of 21 years or till she gets married after the age of 18 years. 50% of the amount can be withdrawn after the age of 18 for the higher education of the daughter.
Sukanya Samriddhi Yojana Key Highlights
|Scheme Name||Sukanya Samriddhi Yojana|
|Objective||Make Bright future of daughters|
How many daughters can get benefits under Sukanya Samriddhi Yojana
Under Sukanya Samriddhi Yojana 2021, only two daughters of a family can get the benefit. If there are more than 2 daughters in a family, then only two daughters of that family can avail the benefit of this scheme. But if there are twin daughters in a family, then they will get the benefit of this scheme separately i.e. then three daughters of that family will be able to take advantage.
The count of twin daughters will be the same but benefits will be given to them separately. Under this scheme, all those people who want to deposit money for their daughter’s marriage and education can open their daughter’s account. Let us tell you that under this scheme, the account of girls below the age of 10 years can be opened. Sukanya Samriddhi Yojana has been started by the government under the Beti Bachao, Beti Padhao scheme.
Sukanya Samriddhi Yojana Account Transfer
Under Sukanya Samriddhi Yojana, an account can be transferred from one post office to another post office or from one bank to another. To transfer this account, you have to follow the following procedure.
- First of all, you have to go to the post office or to the bank with your updated passbook and KYC documents. The girl child is not required to be present during the transfer.
- After this, you will have to submit your Sukanya Samriddhi account passbook and KYC document to your bank or post office and inform your bank and post office that you have to transfer your account.
- After this the manager will close your account in the old post office or bank and will give you the transfer request. Apart from this, you will be asked for all the necessary documents.
- Now you have to take this transfer request and go to the new post office or bank account and submit all these documents there.
- You will also have to submit KYC documents for proof of identity and address.
- Now you will be given a new passbook in which your balance will be displayed.
- After this, you can operate the Sukanya Samriddhi Yojana account from your new account.
Sukanya Samriddhi Yojana Account Reopening Process
As you all know Sukanya Samridhi Yojana was started by the Government of India under the Beti Bachao Beti Padhao scheme. Under this scheme, the account can be opened for the daughter’s education and marriage before the age of 10 years. This is a very popular scheme.
Under Sukanya Samriddhi Yojana, a minimum amount of ₹ 250 per year and a maximum amount of ₹ 1.5 lakh can be deposited in the account. It is mandatory for the beneficiary to deposit ₹250 per year to continue with this account. If the beneficiary has not deposited the amount of ₹ 250 in any year, then his account will be closed.
- The account can be activated after the account is closed. For this, the beneficiary has to go to the bank or post office wherever his account is open. After this, the beneficiary will have to fill and submit the account revival form and pay the outstanding amount.
- Suppose you have not paid ₹ 250 for 2 years, then you have to pay ₹ 500 and pay a penalty of ₹ 50 per year. The penalty for 2 years will be ₹100. So if you have not paid the minimum amount in Sukanya Samriddhi Yojana account for 2 years then you will have to pay at least ₹ 600. In this, ₹ 500 will be for a minimum amount of two years and ₹ 100 will be a penalty of two years.
How much money will have to be paid every year and for how long
Under Sukanya Samriddhi Yojana, earlier there was a provision of giving 1000 rupees per Maha. Which has now been reduced to ₹ 250 per month. From ₹ 250 to ₹ 150000 can be invested under this scheme. Under this scheme, it will be mandatory to invest for 14 years after opening a bank account.
Purpose of Sukanya Samriddhi Yojana 2021
The purpose of the scheme is to advance girls in the field of education and not to let there be any shortage of money if marriageable. The account can be opened in the bank for a minimum of Rs 250. With this SSY 2021, the girls of the country will be encouraged and they will be able to move forward. Through this scheme, female feticide should be stopped.
SSY Scheme 2021
After opening the account under this scheme, this account can be run after the girl child turns 18 or after she turns 21 until she gets married. Under SSY 2021, a person can withdraw 50% of the total deposit amount for his studies after the age of his daughter is 18 years and after the daughter turns 21, she can withdraw the entire amount for marriage, which is deposited by the beneficiary. The amount paid and interest paid by the agency will also be included. This account will mature only after the daughter turns 21.
How to deposit money in sukanya samriddhi yojana account
The amount of Sukanya Samriddhi Yojana 2021 account can be deposited by cash, demand draft or can also be deposited by electronic transfer mode in the post office or bank where the core banking system is present, name and account holder’s name will have to be written to open the account | In all these easy ways, any person can deposit money in his daughter’s account.
Under what circumstances Sukanya Samriddhi Account can be closed before maturity
Sukanya Samriddhi Yojana account can be closed if the account holder dies. In this case, it will be mandatory to show the death certificate of the account holder. After which the amount deposited in this account will be returned to the guardian of the daughter along with interest. Apart from this, the Sukanya Samriddhi Yojana account can be closed for any reason even after 5 years of opening. In this situation, the interest rate will be given according to the savings bank account. 50% of the amount from the account can also be withdrawn for the education of the daughter. This withdrawal can be made only after the daughter turns 18.
PM Sukanya Yojana Tax Benefits
Under Section 80C of the Income Tax Act 1961, the amount deposited in the Sukanya Samriddhi Yojana, the amount of interest and the maturity amount has been made tax-free. The government has provided exemption on the contribution made under this scheme, which is up to ₹ 150000 per annum.
- As per the Income Tax Act, all investments made under this scheme are eligible for the benefit of tax deduction. Maximum tax deduction of 1.5 lakh is admissible towards SSY.
- Under this, interest is accumulated, which is deposited in the account on an annual basis. No tax is levied on this earned/accumulated interest. It allows maximizing the funds under the plan.
- Tax exemption can be claimed either by the parents or legal guardian of the girl child. Only one depositor is eligible for tax exemption under section 80C of the Income Tax Act.
Key Facts of Sukanya Samriddhi Yojana 2021
As you all know Sukanya Samridhi Yojana has been started by the government to secure the future of daughters and for their education and marriage. Daughter’s future can be secured by investing under this scheme. There are some features of this plan which are as follows.
- Under Sukanya Samriddhi Yojana, the account of a daughter below the age of 10 years can be opened.
- The account can be opened in any post office or bank.
- Under this scheme, the account of maximum two children of a family can be opened.
- In some special circumstances, an account of three children of a family can also be opened.
- An account can be opened under this scheme for a minimum of ₹ 250.
- Under Sukanya Samriddhi Yojana, a minimum investment of ₹ 250 and a maximum of ₹ 1.5 lakh can be invested in 1 financial year.
- The interest rate of 7.6% has been fixed under this scheme.
- Tax exemption is also available under this scheme under Section 80C Income Tax Act.
- The returns received through this scheme are also tax free.
- 50% of the amount can be withdrawn from Sukanya Samriddhi Yojana for the higher education of the daughter also.
- Sukanya Samriddhi Yojana 2021 is a small savings scheme of the central government for daughters.
- Under this scheme, the beneficiary can open an account for his daughter in all these banks like Nationalized Bank, Post Office, SBI, ICICI, PNB, Axis Bank, HDFC, etc.
Benefits of PM Kanya Yojana 2021
- The benefit of this scheme will be provided to the girls under the age of 10 of the country.
- Under the Sukanya Samriddhi Yojana, the guardians of the girl child can open a savings account for them. Until the girl turns 10 years old.
- A maximum of Rs 1.5 lakh can be deposited under this scheme during the current financial year.
- Under PM Kanya Yojana 2021, you can easily secure the future of your girls.
- It will help in your girl’s education or marriage.
- You can easily start this scheme in any bank or post office.
- This scheme is beneficial for both the girl child and their parent/guardian as it helps both.
- The guardian or natural parent is allowed to open an account under this scheme for only two girls.
- The depositor can deposit money in the account till the girl child completes fourteen years from the date of opening of the account.
Documents of SSY 2021
- To open an account under this scheme, the age of the girl child should be less than 10 years.
- Aadhar card
- Baby and parent photo
- Girl child birth certificate
- Residence proof
- Depositor (parent or legal guardian) ie PAN card, ration card, driving license
Rules for opening account in Sukanya Samriddhi Yojana
The account under Sukanya Samriddhi Yojana can be opened or opened by the parents or legal guardians of the daughter. This account can be opened from the birth of the daughter till she attains the age of 10 years. Under Sukanya Samriddhi Yojana, only one account can be opened for a daughter and the daughter’s birth certificate will have to be deposited in the post office or bank at the time of opening the account. Along with this, other important documents such as identity card and address proof will also have to be submitted.
Sukanya Samriddhi Yojana 2021 Account Opening Application Form
- Interested beneficiaries who want to apply for opening a savings account under this scheme, then they have to first download the Sukanya Samriddhi Yojana Account Opening Form.
- After this, the application form will have to be filled with all the necessary information. After filling all the information, all your necessary documents will have to be attached with the form.
- Then the application form and documents have to be submitted along with the amount in the desired bank and post office