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Sukanya Samriddhi Account New Rules: There has been a major change in the rules of the popular government scheme for daughters – Sukanya Samriddhi Yojana (SSY). The purpose of these rules, which will come into effect from October 1, 2024, is to correct the errors in opening the account. An important update among these is related to Sukanya Samriddhi accounts opened by grandparents.
what are the new rules
Under the new rules, accounts that are not opened by the legal guardians or natural parents will now have to mandatorily undergo guardianship transfer to comply with the basic guidelines of the scheme. Earlier it was common for grandparents to open Sukanya accounts as a sign of financial security for their granddaughters. However, the scheme has made it mandatory that only the legal guardians or natural parents can open and manage these accounts. Under the new rule, if there are more than two accounts, the extra account will be closed.
About the scheme
Let us tell you that Sukanya Samriddhi is a government-backed savings scheme. This scheme has been started under the Beti Bachao, Beti Padhao campaign of the Government of India. The interest rate of this scheme is 8.20%. This account can be opened in the name of a girl below 10 years of age.
About the scheme
Let us tell you that Sukanya Samriddhi is a government-backed savings scheme. This scheme has been started under the Beti Bachao, Beti Padhao campaign of the Government of India. The interest rate of this scheme is 8.20%. This account can be opened in the name of a girl below 10 years of age.
Documents required for opening an account
Birth certificate of the girl is mandatory along with proof of identity and address of the guardian. Apart from this, PAN of the guardian is mandatory. At the same time, nomination has also been made mandatory. Nomination can be done for one or more persons but cannot exceed four persons. Let us tell you that Sukanya account can be opened with a minimum amount of Rs 250. The maximum contribution in this account is Rs 1,50,000 per financial year. Deposits will be made in the account till the completion of 15 years from the date of opening the account. Apart from this, the account will mature on completion of a period of 21 years from the date of opening.