Sukanya Samriddhi Yojana: How to open new accounts, interest rates, scheme details and more

The girl children guardians who were unable to open Sukanya Samriddhi accounts due to the lockdown will be benefited. However, Sukanya Samriddhi accounts can only be opened up to 10 years of age - Sukanya Samriddhi Yojana.

To open the accounts of Sukanya Samriddhi Yojana, the government announced some relaxation of the eligibility criteria due to the coronavirus lockdown. The sukanya samriddhi account can be opened on or before July 31 in the name of a girl 10 years or older, according to the latest instructions from postal department.

This will benefit the guardians of children who were unable to open sukanya samriddhi account due to the lockdown.

Among all small savings schemes, Sukanya Samriddhi Yojana has the highest interest rates, which are currently reaching an interest rate of 7.6 percent.

A maximum of Rs 1.5 lakh can be deposited in a lump sum into such accounts within a financial year. There are no restrictions on the number of deposits, either in a month or in a financial year, subject to the overall cap of Rs 1.5  lakh per year.

A guardian may open a Sukanya Samriddhi account under the age eligibility criteria. Only one account can be opened in the name of one child and a maximum of two sukanya yojana  accounts in the name of two different children.

From the date of opening of the sukanya samriddhi account, a deposit can be made into Sukanya Samriddhi's account can be made till the completion of a period of 15 years.

As the account holder turns 18, partial withdrawal is allowed. After 21 years, the account can be closed.

Sukanya Samriddhi Yojana account subscribers can make online deposits into accounts through intra-operable net banking and IPPB saving accounts.

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