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Sukanya Samriddhi Account is useful for saving money for future needs of the girl child and the account can be opened in the name of girl child only. This account can be opened upto the age of 10 years from date of birth of the girl. SSA is launched as part of "Beti Bachao Beti Padhao" campaign, is a small deposit scheme for the girl child.
SSA - Sukanya Samriddhi Account can be opened by guardian in the name of girl child till she attains the age of (10) years. One account can be opened/ permissible per girl child. However, this account can be opened by parents only for two girl children.
In Sukanya Samriddhi Account every year a maximum of Rs. 1.5 lakh can be deposited in each and every account.
You may open Sukanya Samriddhi Account in Post Offices or Banks and the account can be opened with an initial amount of Rs. 1000/-.
Sukanya Samriddhi Account can be opened with a minimum of Rs. 1000/- should be deposited every year and the maximum of Rs. 1.5 lakh. However, no limit on no. of deposits made in month or financial year.
If the account holders completes 21 years of age Sukanya Samriddhi Account can be closed and if the account is not closed after the maturity, the balance will earn interest specified in the scheme from time to time.
Under Section 80C for taxation deduction upto Rs. 1.5 lakh is allowed and Sukanya Samriddhi Account qualify for tax free withdrawal and interest income.
Sukanya Samriddhi Account holder turns 18 years upto 50% of the accumulated amount can be withdrawn.
Full withdrawal can be made if the Sukanya Samriddhi Account holder turns 21 years of age.
In Sukanya Samriddhi Account interest rate may change and the Government may declare every year. For this year 2014 - 2015 interest rate of 9.1% to Sukanya Samriddhi Account holders.
Loan facility is not available for Sukanya Samriddhi Account holders.
Sukanya Samriddhi Account is useful for saving money for future needs of the girl child and the account can be opened in the name of girl child only. This account can be opened upto the age of 10 years from date of birth of the girl. SSA is launched as part of "Beti Bachao Beti Padhao" campaign, is a small deposit scheme for the girl child.
SSA - Sukanya Samriddhi Account can be opened by guardian in the name of girl child till she attains the age of (10) years. One account can be opened/ permissible per girl child. However, this account can be opened by parents only for two girl children.
In Sukanya Samriddhi Account every year a maximum of Rs. 1.5 lakh can be deposited in each and every account.
You may open Sukanya Samriddhi Account in Post Offices or Banks and the account can be opened with an initial amount of Rs. 1000/-.
Sukanya Samriddhi Account can be opened with a minimum of Rs. 1000/- should be deposited every year and the maximum of Rs. 1.5 lakh. However, no limit on no. of deposits made in month or financial year.
If the account holders completes 21 years of age Sukanya Samriddhi Account can be closed and if the account is not closed after the maturity, the balance will earn interest specified in the scheme from time to time.
Under Section 80C for taxation deduction upto Rs. 1.5 lakh is allowed and Sukanya Samriddhi Account qualify for tax free withdrawal and interest income.
Sukanya Samriddhi Account holder turns 18 years upto 50% of the accumulated amount can be withdrawn.
Full withdrawal can be made if the Sukanya Samriddhi Account holder turns 21 years of age.
In Sukanya Samriddhi Account interest rate may change and the Government may declare every year. For this year 2014 - 2015 interest rate of 9.1% to Sukanya Samriddhi Account holders.
Loan facility is not available for Sukanya Samriddhi Account holders.
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thanks for the info
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I feel the benefits of Sukanya Samriddhi Account and PPF account is almost same now, as the interest rate of SSA has reduced recently.
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