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Sukanya samriddhi Yojana

Date: 14 March 2020 Tags: Women & Child


The Popular girl child scheme Sukanya Samriddhi Yojana has undergone some changes. The finance ministry has repealed the existing scheme rules and replaced them with new ones.



The Sukanya Samriddhi Account has the potential to have a phenomenal impact on the lives and self esteem of young girls in the country. The scheme aims to ensure a bright future for the girl children by facilitating their education and marriage expenses.



  • Under the scheme, a parent or legal guardian can open an account in the name of the girl child until she attains the age of ten years. As per the government notification on the Scheme, the account can be opened in any post office branch and designated public sector banks.

  • The rate of interest for the scheme is an attractive 9.2 per cent which will be compounded annually. This rate, however, will be revised every year by the government and will be announced at the time of the Union Budget.

  • The minimum deposit that needs to be made every year is Rs 1,000, and the maximum amount that can be deposited in a year is Rs 1,50,000. There is no limit on the number of deposits either in a month or in a financial year. 

  • The account will be valid for 21 years from the date of opening, after which it will mature and the money will be paid to the girl child in whose name the account had been opened.

  • If the account is not closed after maturity, the balance amount will continue to earn interest as specified for the scheme from time to time. The account will also automatically close if the girl child gets married before the completion of the tenure of 21 years.


New changes

  • Higher interest rate for default accounts

According to the scheme rules, if you do not deposit even the minimum amount i.e. Rs 250 in a financial year in the Sukanya Samriddhi Yojana account, it will be considered as an account in default.
According to the newly notified rules, such 'default accounts' will earn the interest rate applicable to the scheme, till the maturity date of the account, if not regularised till then.


  • Changes in rules for premature closure of account

According to the new scheme rules, the premature closure of a Sukanya Samriddhi account is allowed in case of death of the girl child or on compassionate grounds. Compassionate grounds would include situations such as medical treatment of the account holder for life threatening diseases or death of guardian."
The old rules of the scheme allowed closure of the account in two cases - due to death of girl child and in case of change in residency status of girl child.


  • Operation of account

According to the newly notified rules, the account cannot be operated by the girl child till she attains the age of 18 years as against 10 years as per old rules.

  • The new rules have removed the provision of reversing wrongly credited interest in the account considering that as per the new rules the scheme interest now applies in case of all default accounts (and not the Post Office account saving interest rate). Also, under the new rules interest will be credited to the account at the end of the financial year.

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