PM Sukanya Samriddhi Yojana
Girl Child

This post will provide all the details about PM Sukanya Samriddhi Yojana and who are eligible to get enrolled in this scheme. Read about each and every detail below.

What Is PM Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a financial scheme that is functioning under the Indian Government and is a part of the Beti Bachao Beti Padhao Campaign. The main motive of this scheme is to strengthen the future of a girl by providing money for her marriage and higher education.

This scheme is dedicated only to the girl child and boys are not allowed to get the benefits of this scheme. Under this scheme, a girl can get upto 1 crore rupees for a better future.

To get the benefits of this scheme you need to deposit a small amount every month for 15 years and the maturity period of this Sukanya Samriddhi Scheme is 21 years.

Moreover, this scheme provides the highest interest rate as compared to other schemes as well as there is no tax levied on the amount deposited in this scheme.

Major Benefits Of Pm Sukanya Samriddhi Scheme

There are multiple benefits provided under the Sukanya Samriddhi Scheme and their details have been mentioned below.

  • This scheme offers the highest interest rate in the industry in fact more than the Public Provident Fund.
  • The amount provided under this scheme is tax-free.
  • Higher Education and Marriage Expenses can be paid off with the amount given under this scheme.
  • The minimum amount to open the Sukanya Samriddhi account is 250 rupees only.
  • There is a limit of 2 accounts per family but in the case of twins 3 accounts can be opened for the same.
  • Sukanya Samriddhi Account is transferable to any other bank or post office free of cost.


Eligibility Criteria For Pm Sukanya Samriddhi Yojana

If a person wanted to apply in this scheme for her girl child he or she must be required to fulfill the following eligibility criteria.

  1. Only girls are allowed for enrollment in this scheme.
  2. The age of the girl must be between 0 to 10 years.
  3. A girl above 10 years old can not be entertained under this scheme.
  4. Only Indian Residents are allowed to apply for the Sukanya Samriddhi Yojana.
  5. This scheme is not for Non-Resident Indians.
  6. A maximum of 2 accounts can be opened per family. However, in the case of twins, the family is allowed to open 3 accounts.
  7. The minimum and maximum investment amount per year is 250 rupees and 1.5 lakh rupees respectively.

Documentation Required

The submission of the following documents is mandatory in order to apply for the Sukanya Samriddhi Yojana Scheme.

  • Date Of Birth of Daughter.
  • Pan Card and Aadhar Card Of Girl’s Father.
  • Passport Size Photograph of Father.
  • Address and Identity proof of the guardians.

Key Points To Note

There are few important points that should be taken care of when a person is getting ready to apply for a Sukanya Samriddhi Yojana account.

  • If a person is unable to deposit the amount in this account due to a financial crisis, then he or she must maintain the minimum account balance to avoid loss of interest.
  • If the amount is not deposited in this account for a long time then the savings account interest rate will be given and there are chances of account inactivation.
  • To activate the account again the person needs to submit a penalty of 50 rupees and the amount incurred during the default period.

How To Withdraw The Amount Of Sukanya Samriddhi Yojana

The details are mentioned below for the withdrawal of the money from Sukanya Samriddhi Account.

  • The amount can be withdrawn in the case of girl marriage, higher education, and medical emergencies.
  • The amount can be withdrawn only when your daughter gets 18 years old.
  • If the daughter gets married before the maturity period the parents need to close the account to get the total amount.

Where Can I Open This Account

Pm Sukanya Samriddhi Yojana account can be opened in the post office, government, and private banks.

Interest Rate

Pm Sukanya Samriddhi Scheme offers the highest interest rate from all the schemes and yojana running under the government of India.

However, the interest rate is not fixed and you can witness the changes in the rate of interest.

Terms & Condition For Account Closure

The parents can close the Pm Sukanya Samriddhi Account under the following conditions.

  • Death of Daughter.
  • In the case of Life-threatening disease.
  • If she moved away to another country or become NRI.

By mj

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