If you Have a Girl Child then You are reading the Right Blog ,
Here it is : The Government of India ‘Sukanya Samriddhi Yojana’ ha been launched by Prime Minister Narendra Modi and has been receiving overwhelming response from the parents in the State.
Hundreds of applications have been pouring in to the Post Office Near to You,
“Sukanya Samriddhi Yojana “is a small deposit scheme for girl child launched as part of ‘Beti Bachao Beti Padhao’ campaign. An account can be opened at any time from the birth of a girl till she attains the age of 10 years, with a minimum deposit of Rs.1000 in any Post Office or authorised branches of Commercial Banks. The subsequent deposit should be in multiples of Rs.100, he explained.
Documents relating to child’s age proof and address proof of parents or guardians should be submitted while opening account. In case a proper birth certificate is not available, a certificate of date of birth from the school headmaster or from hospital, where the child was born, can be submitted.
Interest rate will be 9.1 per cent for financial year 2014-15 and it will be calculated on a yearly basis and credited into account i.e. compounded every year up to completion of 14 years from date of opening the account.
Mr. Sampath said the account would remain active for 21 years from the date of opening of the account or marriage of the girl. Partial withdrawal of 50 per cent of the balance would be allowed after the girl has attended 18 years to meet the requirement of higher education or marriage expenses, he said adding more details could be collected from the nearest post office.
Just to a quick example of Rs.1000/month invest for next 14 years will be 1,68,000/- and when the Maturity of the account comes after 21 yrs the amount en cashed will be over 6 lacs