Thursday, July 16, 2020

Sukanya Samriddhi Yojana : सुकन्या समृद्धि योजना, A/c Opening , Deposit, Withdrawl

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Sukanya Samriddhi Yojana: Big relaxation in rules, but will have to invest before 31 July


In Sukanya Samriddhi Yojana, the rules have been relaxed to open an account for those who missed the account due to lockdown.

  • In Sukanya Samriddhi Yojana, the rules have been relaxed to open an account for those who missed the account due to lockdown. Or whose daughter's age exceeded the maximum limit of 10 years in lockdown

. According to a recent directive from the Department of Post, during the lockdown (from 25 March to 30 June 2020), the daughters who have turned 10 years of age also have their accounts opened in Sukanya Samriddhi Yojana (SSY) from 31 July 2020. can go. However, only those who open the account before 31 July will benefit from it.

Who will get the benefit of discount?


Please tell that due to Corona virus lockdown, all kinds of activities were braked. Due to which many people could not work like investment savings even after wishing. In such a situation, the government has relaxed or changed some rules for this. The benefit of this rebate will be given to parents whose daughters have become 10 years old during Lockdown.

  •  According to the guidelines of India Post, Sukanya Samriddhi account can be opened on or before 31 July 2020 in the names of these daughters, who have completed 10 years of age during lockdown from 25 March 2020 to 30 June 2020.

Interest

  • Currently, Sukanya Samriddhi Yojana is getting 7.6 percent interest annually. Except the Senior Citizens Savings Scheme, the highest interest is being received in it.

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Maximum deposit in a financial year?

  • A minimum of Rs 250 and a maximum of Rs 1.50 lakh can be deposited in a financial year under Sukanya Samriddhi Yojana. A parent can open an account in the name of not more than 2 daughters.

Tenure

  • Under Sukanya Samriddhi Yojana, parents have to invest only for 14 years. While the maturity period of the account is 21 years. During the remaining 7 years after 14 years, interest will be available at 7.6 percent per annum on the closing balance of 14 years.

  •  After 21 years, you will get full amount on maturity. However, if the daughter turns 18, money can be withdrawn from the account in the name of her marriage.

Benefit of tax exemption

  • Tax exemption can be availed under Section 80C of Investment Income Tax Act under Sukanya Samriddhi Yojana.

How to open Sukanya Samriddhi Yojana account?

  • Under Sukanya Samriddhi Yojana, an account can be opened after the birth of a girl child with a deposit of at least 250 rupees before the age of 10 years.
 In the current financial year, a maximum of Rs 1.5 lakh can be deposited under Sukanya Samriddhi Yojana.

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Where will Sukanya Samriddhi Yojana account be opened?

  • Under Sukanya Samriddhi Yojana, the account can be opened in any post office or authorized branch of commercial branch.

Sukanya Samriddhi Yojana : सुकन्या समृद्धि योजना, Invest Before 31 July


How long will Sukanya Samriddhi Yojana account run? 

After opening Sukanya Samriddhi Yojana account, this girl child can be run till the age of 21 years or her marriage after the age of 18 years.

 What is the use of Sukanya Samriddhi Yojana? 

Sukanya Samriddhi Yojana account can be withdrawn up to 50 percent in terms of expenses for higher education of a child after the age of 18 years


Rules for opening Sukanya Samriddhi Yojana Account 

Sukanya Samriddhi Yojana account can be opened by the parents or legal guardian of the girl before the age of 10 years in the name of girl child. According to this rule, only one account can be opened for a girl child and money can be deposited in it. Two accounts cannot be opened for one girl child.

Documents required for Sukanya Samriddhi Yojana

At the time of opening Sukanya Samriddhi Yojana, it is necessary to give the girl's birth certificate to the post office or bank. Along with this, proof of identity and address of the child and guardian is also necessary.

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How much amount is required in Sukanya Samriddhi Yojana?

250 rupees is enough to open Sukanya Samriddhi Yojana account, but later money can be deposited in multiples of 100 rupees. At least Rs 250 should be deposited in any one financial year. In a single financial year, no more than Rs 1.5 lakh can be deposited in an SSY account or once.
            
    The amount can be deposited in Sukanya Samriddhi Yojana account for 15 years from the day of opening the account. In the case of a 9-year-old girl, when she turns 24, the amount can be deposited. By the time the child is 24 to 30 years old, when the Sukanya Samriddhi Yojana account matures, interest will be paid on the amount deposited in it.

Could not deposit the Sukanya Samriddhi Yojana then?

 Where minimum amount has not been deposited in an irregular Sukanya Samriddhi Yojana account, it can be regularized by paying a penalty of Rs 50 annually. Along with this, the amount to be deposited at least for every year will also have to be put in Sukanya Samriddhi Yojana account.
       If the penalty is not paid, then the amount deposited in Sukanya Samriddhi Yojana account will get interest equal to the savings account of the post office, which is currently about four percent. If the interest on Sukanya Samriddhi Yojana account has been paid more then it can be revised

How will the funds be deposited in Sukanya Samriddhi Yojana account?

Money can also be deposited in Sukanya Samriddhi Yojana account by cash, check, demand draft or any such instrument which the bank accepts. For this, it is necessary to write the name of the depositor and the name of the account holder. 

Funds in Sukanya Samriddhi Yojana account can also be made through electronic transfer mode, if the core banking system is present in that post office or bank. 

If the amount in Sukanya Samriddhi Yojana account is paid by check or draft, then interest will be paid on it after the amount is cleared in the account, whereas in case of e-transfer it will be calculated from the day of deposit.

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Under which circumstances can Sukanya Samriddhi Yojana account be closed before maturity?

If the Sukanya Samriddhi Yojana account holder dies, the account can be closed by showing the death certificate. After this, the amount deposited in Sukanya Samriddhi Yojana account can be given back with interest to the child's guardian.

In other cases SSY account can be closed after five years from opening. This can also be done in many circumstances, such as in the case of life threatening diseases.

 Even after this, if the account is being closed for any other reason, it can be allowed, but the interest on it will be earned according to the savings account.

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Sukanya Samriddhi Yojana account transfer 

Sukanya Samriddhi Yojana account can be transferred anywhere in the country,
If the account holder has shifted elsewhere from the original place of account opening. 

Account transfer is free of cost, however, for this, proof of shift of account holder or his parent / guardian will have to be shown. 

If no such evidence is shown, then the post office or bank will have to pay a fee of Rs 100 for the account transfer where the account has been opened. Sukanya Samriddhi Yojana account transfer can be done electronically in the bank or post office which has the facility of core banking system.

Partial withdrawal from Sukanya Samriddhi Yojana Account

Partial withdrawal can be done from Sukanya Samriddhi Yojana account to meet the financial needs of the account holder, these include higher education and work like marriage. In this, 50 percent of the amount deposited in the scheme by the end of the last financial year can be withdrawn. 

This withdrawal from Sukanya Samriddhi Yojana is possible only when the account holder crosses the age of 18 years. 

To withdraw money from the account, a written application and admission offer or fee slip in any educational institution is required. In these cases, however, the amount withdrawn may be equal to the fee and not more than the other charge.


When will Sukanya Samriddhi Yojana account maturity?

The account will be matured after the completion of 21 years from the day of opening of the account or the marriage of the girl child.

There are some conditions though Sukanya Samriddhi Yojana

If the account holder gets married before the completion of 21 years of opening the account, then the amount cannot be deposited in the account. 

If the account is being closed before the completion of 21 years, then the account holder will have to give an affidavit that at the time of closing the account, his age is not less than 18 years. 

On submission of passbook and withdrawal slip at the time of maturity, the deposited amount along with interest will be returned to the account holder. 

Under Sukanya Samriddhi Yojana, an account can be opened only by an Indian citizen, who is living here and living here at the time of maturity.

 NRIs cannot open an account under Sukanya Samriddhi Yojana. If the girl child moves to another country after opening the account and takes citizenship from there, then the interest on the amount deposited in Sukanya Samriddhi Yojana account will stop from the day of taking citizenship.

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