The Government of India has introduced a new savings scheme for girl child. The scheme ‘Sukanya Samriddhi Account’ (SSA) is aimed at cultivating the habit of savings among the public and particularly in the parents of gird children. The Scheme is launched with an attractive interest rate of 9.2 % for the financial year 2015-16. This rate of interest is much higher than the usual post office and bank deposit scheme and saving schemes. The scheme is good for the long term needs of the girl child like education and marriage. Following are the salient features of Sukanya Samriddhi Account:
2) The Sukanya Samriddhi Account can be opened with a minimum deposit of Rs. 1000 and maximum of Rs. 1,50,000 can be deposited in a financial year. The deposit can be made monthly or annually.
3) Deposit under Sukanya Samriddhi Account are eligible for deduction under Section – 80 C of the Income Tax Act.
4) The interest earned on Sukanya Samriddhi Account is completely tax free.
5) One withdrawal is allowed on attaining the age of 18 years to meet the educational and marriage expenses of the child.
6) The Government of India has fixed the interest rate at 9.2 % for the financial year 2015-16. The interest rate in the previous financial year was 9.1 percent.
The above terms will come into force from 1st April 2015. For more details on the scheme, you can contact Regional Centers of NSI / State Directorate of Small Savings / District Collectors / Post Offices / Banks.
Address: National Savings Institute (NSI), Government of India, Ministry of Finance, Department of Economic Affairs, 4th Floor, A Wing, CGO Complex, Seminary Hills, Nagpur – 440006. Website: www.nsiindia.gov.in .