Introduction of new scheme “Sukanya Samriddhi Account” under Small Savings Schemes.

Introduction of new scheme “Sukanya Samriddhi Account” under Small Savings Schemes:

To
Heads of Circles/Regions
Addl. Director General, APS. New Delhi.

Subject: – Introduction of new scheme “Sukanya Samriddhi Account” under Small Savings Schemes.

Sir / Madam.

• A legal Guardian/Natural Guardian can open account in the name of Girl Child.
• A Guardian can open only one account in the name of one girl child maximun two accounts in the name of two different Girl Children.
• Guardian will be called as “Depositor” and Girl Child will be caled as “Account Holder”.
• Account can be opened up to the age of 10 years only from the date of birth. For initial operations of scheme. one year grace has been given. Therefore, Girl Child who is born on or after 2.12.2003 can open account.
• KYC Documents of Depositor (Guardian) as per SB Order No. 14/2012 (Master Circular 1) circulated on 9.10.2012 and Birth Certificate of Account Holder (Girl Child) are mandatory to be taken.
• Nomination is not allowed in these accounts.
• Minimum Amount for opening of account Rs.1000/- and subsequent deposit should be in multiple of Rs.100/-.
• Maximum Amount Rs.1,50,000/- in a financial Year.
• No limit on number of deposits either in a month or in a financial year (just like a savings account).
• If minimum Rs.1000/- is not deposited in a financial year. account will become dicontinued (like PPF) and can be revived with a penalty of Rs.50/- per year with minimum amount required for deposit for that year.
• No Mode of deposit can be Cash/Cheque/Draft and in case of cheque/draft. date of credit of cheque/draft amount into Government Account will be the date of credit.
• Interest rate will be 9.1% for the Financial Year 2014-15. It will be calculated on Yearly basis and credited into account i.e Yearly componded up to completion of 14 Years from date of opening.
• Partial withdrawal, maximum upto 50% of the balance standing at the end of the preceding financial year can be taken after Account Holder attaining age of 18 years.
• Account can be closed after completion of 21 years.
• It account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.
• Normal Premature closure will be allowed after completion of of 18 years provided that girl is married. No reduction in the interest. Interest will be paid till completion of month preceding the month of closure. Month means, SSAccount month not a calendar month.
• In case of Premature (on account of death of the account holder). balance amount will be paid to the guardian with interest till the month preceding the month of premature closure.

4. This issues with the approval of Competent Authority.

Source/view/download: http://www.indiapost.gov.in

Stay connected with us via Facebook, Google+ or Email Subscription.

Subscribe to Central Government Employee News & Tools by Email [Click Here]
Follow us: Twitter [click here] | Facebook [click here] | Google+ [click here]
Admin