Can I withdraw Sukanya Samriddhi account?
To meet the financial requirements of the account holder for the purpose of higher education and marriage, withdrawal of up to 50 per cent of the balance at the credit of the account at the end of preceding financial year is allowed. However, the withdrawal will be allowed only when the account holder turns 18.
What is Sukanya saving scheme?
Sukanya Samriddhi Yojana is a small deposit scheme of the Government of India meant exclusively for a girl child and is launched as a part of Beti Bachao Beti Padhao Campaign. The scheme is meant to meet the education and marriage expenses of a girl child.
What if Father dies in Sukanya Samriddhi Yojana?
The account can be closed prematurely on the untimely death of the accountholder. At the end of the year, a payment of Rs. 50 has to be made over the minimum annual deposit towards the Sukanya Samriddhi Yojana savings scheme as a confirmation for reviving the account.
What is SSA in Ubi?
SUKANYA SAMRIDDHI ACCOUNT (SSA) A natural/ legal guardian on behalf of a Girl Child.
Is Sukanya samriddhi better than PPF?
At present the SSY account is offering a higher interest rate at 7.6 per cent, while the interest on PPF deposits is just 7.1 per cent. Even when the interest rates on all savings schemes have dipped, SSY continues to offer a better interest rate than the PPF.
How many years need to pay for Sukanya Samriddhi Yojana?
What is the duration of the sukanya samriddhi yojana account? The payment period for SSY accounts is 15 years, while the maturity period of the account is a minimum of 21 years.
What is Ssy scheme?
Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme for the benefit of girl child. It is a part of the Beti Bachao, Beti Padhao Yojana and can be opened by the parents of a girl child below the age of 10. It can be opened at designated banks or post offices.
Can I transfer money to Sukanya Samriddhi Account online?
Yes, with the launch of India Post Payments Bank (IPPB), the monthly installment of RD amount can be transferred online into your RD account. Even PPF and Sukanya Samriddhi Account premiums can be paid online through IPPB.
Can I open Ssy and PPF both?
Yes, you can open both PPF and Sukanya Samriddhi Accounts. While an SSY account can be opened for girl child aged 10 years or below, you can open a PPF account if you are an Indian resident above the age of 18 years.