Sukanya Samriddhi Account Yojana New Amendments 2016

Modi under his Governments has launched wide range of social security schemes for economically weaker sections in the society. Among such security schemes, Sukanya Samriddhi Scheme is also one among them.

It is really the best deposit scheme introduced by the government for benefiting the girl child. Because of this reason, its adoption in public has also been very quick. Since its launch in last January, more than 76 lakhs have been opened in various banks in our country and more than 2,838 crore rupees have been deposited in these accounts. Let’s start with what exactly the scheme is all about?

What is Sukanya Samriddhi Scheme All About?

Sukanya Samriddhi Account Yojana New AmendmentsSukanya Samridhi Scheme is simple savings scheme that provides financial and social security for girrs. It is also part of BetiBachao, BetiPadhao campaign and parents need to open a savings account under this scheme. Along with the tax benefits, the account can also attract interest of 9.2% per annum rather than normal interest. 

This scheme can be opened by any girl’s parents by showing the age certificate of that girl along with address proof of guardians.

Rules for Sukanya Samridhi Scheme:


Following are the rules that are issued by the government.

1) Minimum & Maximum Deposits:

Minimum of Rs. 1000/- is to be deposited in the account every year. If the amount is not deposited, then the account is treated as defaulted account and penalty of about Rs.50/- is applied. The maximum amount you can deposit is about 150,000/- rupees and if the amount is deposited more than this amount, then the excess amount do not earn any interest for that financial year. You can withdraw the excess amount at any point of time.

2) Deposits is Accepted for 14 Years:

The maximum number of years you can deposit is for 14 years and after that, you need not deposit anything. The account will start earning interest until maturity or closure.

3) Interest Calculation:

If you deposit the money after 10th of any month, it does not earn any interest during that month. 

4) Tax Redemption:

You can also receive tax redemption on your deposits as per section 80C of IT Act.

5) With drawl rule for education:

50% of the amount can be withdrawn for higher studies after 10th. But to with draw, the guardian needs to show the documentary proof of admission of higher education institute.

6) Online Deposit:

This is still a confusion point whether the Government accepts the online payment or not. However many popular banks show just cheques, demand drafts or cash. Hence it’s better to get this clarified with particular bank.

7) Change of Citizenship:

If the account holder becomes an NRI, then it should to be taken to the notice of the bank within one month. Remember no interest will be paid to such account and will be closed.

8) Issue of Duplicate passbook:

If the passbook is lost, then the duplicate certificate is issued on the request of written application. For this Rs.50/- is deducted from your account.

Let’s see all the rules on a whole:

  • Name of the Scheme: SukanyaSamridhi Account Deposit Scheme
  • Interest Rate: 8.6% per annum
  • Interest compounding: Annual
  • Scheme for NRIs: Not allowed
  • Required documents: Age certificate of child and KYC documents of parents
  • Minimum deposit: Rs.1000/-
  • Maximum deposit: Rs.150,000/-
  • Tax Rebate: As per the Act 80C of IT
  • Maximum deposit years: 14 years
  • Withdrawl for education: 50% of the amount
  • Withdrawl for marriage: allowed with the account after attaining the maturity status
  • Age of maturity account: 21 years
  • Premature closure: allowed in extreme cases like death, marriage, etc.
Sukanya Samriddhi Account Yojana New Amendments 2016 Sukanya Samriddhi Account Yojana New Amendments 2016 Reviewed by amara sangati for Rating: 5