The government has announced some relaxation in the eligibility norms for opening of Sukanya Samriddhi accounts due to the coronavirus lockdown. According to the latest guidelines from the postal department, Sukanya Samriddhi account may be opened in the name of girl child on or before 31st July, 2020, who have attained the age of 10 years during the period of lockdown from 25th March, 2020, to 30th June, 2020.
This relaxation will help guardians of girl children who could not open Sukanya Samriddhi accounts due to the lockdown. Otherwise, Sukanya Samriddhi accounts can only be opened up to age of 10 years only from the date of birth.
Sukanya Samriddhi accounts currently fetch an interest rate of 7.6%, the highest among small savings schemes.
In a financial year, a maximum of ₹1.5 lakh can be deposited in a Sukanya Samriddhi account. Deposits can be made in lump-sum. There is no restriction in the on number of deposits either in a month or in a financial year, subject to the overall cap of ₹1.5 lakh in a year.
A guardian can open account Sukanya Samriddhi account subject to the age eligibility norm. A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different girl children.
Deposits in Sukanya Samriddhi account can be made till the completion of a period of 15 years from the date of opening of the account
Partial withdrawal is allowed after the account holder attains the age of 18 years on the occasion of marriage. The account can be closed after completion of 21 years.
Sukanya Samriddhi account subscribers can make online deposits into the accounts through intra-operable net banking and IPPB saving account.