Sukanya Samriddhi Yojana is a government savings scheme aimed at securing the future of daughters by providing income tax exemptions and higher interest rates. This scheme allows beneficiaries to invest a lump sum amount for their daughter’s education or marriage. Here is all the important information related to Sukanya Samriddhi Yojana 2024, including eligibility, benefits, important documents, and the application process.
Key Features of Sukanya Samriddhi Yojana 2024:
- The scheme was launched by the Government of India as a savings plan.
- Accounts must be opened before the daughter turns 10 years old.
- Minimum investment limit: ₹250; Maximum limit: ₹1.5 lakh.
- Interest rate: 7.6% provided by the government on investments.
- Tax exemption is provided on investments under this scheme.
Account Transfer Process:
- Visit the post office or bank with your updated passbook and KYC documents.
- Submit the passbook and KYC document of your Sukanya Samriddhi account and inform them about the transfer.
- The manager will close your account and provide you with a transfer request and ask for necessary documents.
- Take the transfer request to the new post office or bank and submit the documents.
- Submit KYC documents for proof of identity and address.
- You will be given a new passbook with your balance, and you can operate the account from the new branch.
Interest Rate in Sukanya Samriddhi Yojana:
- April 2020 onwards: 7.6%
- 1 January 2019 – 31 March 2019: 8.5%
- From 1 April 2015: 9.2%
Tax Benefits:
- Investments are eligible for tax deduction under section 80C of the Income Tax Act.
- Interest earned is tax-free.
- Tax exemption can be claimed by parents or legal guardians.
Benefits of Sukanya Samriddhi Yojana:
- The scheme benefits girls under the age of 10.
- Accounts can be opened by guardians until the girl turns 10.
- Maximum deposit: ₹1.5 lakh per financial year.
- Helps secure the future of girls for education or marriage.
- Accounts can be opened in banks or post offices.
- Beneficial for both the girl child and their parent/guardian.
Documents Required:
- Girl child’s birth certificate.
- Aadhar card.
- Parent or legal guardian’s PAN card, ration card, or driving license.
- Residence proof.
Key Facts of Sukanya Samriddhi Yojana 2024:
- Account can be opened in any post office or bank.
- Maximum of two accounts per family, with exceptions in some cases.
- Minimum investment: ₹250; Maximum: ₹1.5 lakh per financial year.
- Interest rate: 7.6%.
- Tax exemption under section 80C of the Income Tax Act.
- 50% withdrawal allowed for higher education after the age of 18.
Authorized Banks for Sukanya Samriddhi Yojana:
- Allahabad Bank
- State Bank Of India (SBI)
- Axis Bank
- Andhra Bank
- Bank Of Maharashtra (BOM)
- Bank Of India (BOI)
- Corporation Bank
- Central Bank Of India (CBI)
- Canara Bank
- Dena Bank
- Bank Of Baroda (BOB)
- State Bank Of Patiala (SBP)
- State Bank Of Mysore (SBM)
- Indian Overseas Bank (IOB)
- Indian Bank
- Punjab National Bank (PNB)
- IDBI Bank
- ICICI Bank
- Syndicate Bank
- State Bank Of Bikaner And Jaipur (SBBJ)
- State Bank Of Travancore (SBT)
- Oriental Bank Of Commerce (OBC)
- State Bank Of Hyderabad (SBH)
- Punjab And Sind Bank (PSB)
- Union Bank of India
- UCO Bank
- United Bank Of India
- Vijay Bank
Application Form:
- Interested beneficiaries can download the Sukanya Samriddhi Yojana Account Opening Form from the official website.
- Fill in all the necessary information and attach the required documents.
- Submit the application form and documents along with the deposit amount to the desired bank or post office.
For more information, visit the official website of Sukanya Samriddhi Yojana.
