Sukanya Samriddhi Scheme

Sukanya Samriddhi Scheme

All UCO Bank Branches are authorised to receive subscription under SUKANYA SAMRIDDHI YOJANA (SSY) 2019 Scheme of Government of India.

Sl. No. SALIENT
FEATURES
SUKANYA SAMRIDDHI YOJANA 2019, HIGHLIGHTS OF THE SCHEME
1
Objective
To promote the welfare of Girl Child.
2
Eligibility
Account can be opened in the name of a resident girl child up to the age of 10 years. A resident natural / legal guardian can open an account on behalf of a girl child.
Maximum 2 Girl Children per family (more than 2 in the case of twin/triplets birth)*
3
Deposit
Minimum initial subscription Rs. 250/-
Maximum Rs. 1, 50,000/- in a Financial Year in multiple of Rs 50/-.
4
Rate of
Interest
8.2% per annum w.e.f 01.01.2024 calculated on yearly
Basis, compounded annually. Govt. of India announces
Rate of Interest for every Quarter of a financial year.
5
Tenure of the
Deposit
Tenure of the Deposit is 21 years from the date of opening of the account. Maximum period up to which deposits can be made is 15 years from the date of opening of the account.
6
Withdrawals
Withdrawal shall be allowed after the account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier
For higher Education 50% of balance at the end of the previous financial year can be withdrawn. For marriage of adult account holder, 100% withdrawals permitted.*
7.
Closure on maturity
The account shall mature on completion of a period of twenty-one years from the date of its opening.
The closure of the account may also be permitted before completion of twenty-one years for the reason of intended marriage of the account holder and  the applicant is not be less than eighteen years of age on the date of marriage the date of marriage
8
Tax Benefit
Subscription to SSY qualifies for Tax benefits under 80C of IT Act. Interest credited to SSY is exempt from Income Tax. Maturity Proceeds exempt from tax.
9
Mode of
Payment
Cash/Cheque /Demand Draft/Online via M- Banking.
10
Website
For latest instructions /modifications in the scheme, visit www.nsiindia.gov.in

SIP: Standing Instructions can be given either at the Branch or set through Internet Banking for automatic credit to Sukanya Samriddhi Account .

NOTE: As this is a Govt. of India scheme, customers are advised to visit www.nsiindia.gov.in for latest instructions/ modification in the scheme.

Click here for account opening form attached file is in PDF Document Format (Content is in English)

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