March 27, 2015

Least known facts about Sukanya Samriddhi Account

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Least known facts about Sukanya Samriddhi Accounts  

Grace period of 1 year is available now girl child whose date of birth is on or after 02-12-2003 can open account

Rate of Interest is not fixed: Please note that interest rate is not fixed and government of India will declare on yearly basis. For financial year 2014-15, interest rate of 9.10 % will be applicable. Interest rate will be compounded yearly 

KYC Document of Depositor i.e Guardian will be applicable and only birth certificate of Girl child is required  

No limit of number of deposits: there is a limit of deposits either in months or financial year. 

Minimum 1000 required: For maintaining live account Rs. 1000 is the minimum amount which should be deposited yearly. 

Withdrawal of maximum 50 percent is allowed of balance standing at the end of preceding financial year