Sukanya Samriddhi Savings Scheme: Features, Account and Benefits

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Hiral Vakil

Income Tax
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Tax Savings & Deductions

Sukanya Samriddhi Scheme is aimed at the betterment of girl child in India. It is a savings scheme to cover girl child education and wedding expenses. The scheme offers income tax deductions on savings and fixed interest rates against the deposits.

Features of Sukanya Samriddhi Yojana:

Want to know what other tax deductions you can claim?
Read our article to understand the different types of tax deductions available to you and how to avail them.
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Want to know what other tax deductions you can claim?
Read our article to understand the different types of tax deductions available to you and how to avail them.
Read More

How to open Sukanya Samriddhi Account?

An account can be opened at any of the authorized banks or at any post office. Form to open account is available at all eligible bank branches and post office branches. The account can be opened by a parent or legal guardians of a girl child. Birth Certificate of the girl child is required as supporting document. The account is opened in the name of the girl child.

Documents required to open Sukanya Samriddhi Account:

Who can avail benefits of Sukanya Samriddhi  Scheme? 

Sukanya Samriddhi Scheme can be availed by parents or legal guardians of a girl child. Following criteria must be met to avail benefits

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FAQs

How many times can I deposit in Sukanya Samriddhi Yojana?

The amount deposited in Sukanya Samriddhi account should not exceed Rs. 1.5 lakhs per year. However, the total number of deposits that you have made doesn’t matter either in a month or financial year.

How can my Sukanya Samridhdhi Yojana account get deactivated/inactive?

The Sukanya Samriddhi account will turn inactive in case the requirement of the minimum annual deposit of Rs 1,000 is not met.

Can Sukanya Samriddhi Yojana account be closed prematurely?

Yes, it is possible. Following are the circumstances where your account can be closed prematurely:
– It can be closed prematurely on the basis of marriage, change of citizenship and country of residence, only after maintaining deposits for 5 years. 
– It can be prematurely closed in case the account is causing a financial burden on the girl child or there is an urgent medical requirement or in instances of death of a parent or guardian.

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