Sukanya Samriddhi Yojana by Vijaya Bank

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Sukanya Samriddhi Yojana
by Vijaya Bank
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Sukanya Samriddhi Yojana

• This is a small savings scheme launched by Prime
  Minister Narendra Modi as a part of the Beti
  Bachao Beti Padhao campaign.
• This scheme aims to provide security cover to
  girl child as well as their parents.
• How to open a Sukanya Samriddhi Yojana?
• Account opening
• This scheme can be opened by only
  parents/guardians.
• Maximum for 2 girl children although there are
  exceptions in case of twins/triplets.
• As per new changes, this scheme is extended to
  adopted daughters as well.

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• Age Criteria
• Under this scheme, account can be opened until
  the girl child attains 10 years of age.
• Residence
• The account holder/ girl child should be a
  resident of India for the entire time period of
  the scheme.
• Account beneficiary
• Account can be opened only in the name of girl
  child.
• The depositor (parent/guardian) will deposit on
  behalf of the account holder.
• One is to One
• A girl child can open only one account by her
  name.
• Where to open
• Account can be opened at Post Offices or
  authorized banks like Vijaya Bank, SBI etc..

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Additional Details (1/2)

• Transferability
• Account can be transferred to any location as the
  account holder (girl child) relocates and the
  account can be started by giving an initial
  deposit of Rs.1000/-
• Penalty
• Rs 50 is imposed as penalty if the depositor
  fails to deposit the minimum annual deposit
  amount Rs.1000/-
• Minimum deposit
• Per annum, Rs.1000/- is the minimum limit and
  this can stretched up to Rs. 1,50,000/- even
  though there is no limit on the number of
  deposits that can be made per year.
• ROI
• This scheme attracts an interest rate of 8.4 per
  year and this is compounded yearly and is
  credited directly in the account.

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Additional Details (2/2)

• Withdrawal
• Up to 50 of the amount can be withdrawn before
  the maturity provided the account holder has
  reached 18 years of age or has passed class 10th.
• Account Closure
• This scheme can be continued till the account
  holder (girl child) attains 21 years of age or
  even if she gets married by this time. The scheme
  will earn interest if its not withdrawn by the
  age 21.
• Taxation
• This scheme comes under the Section 80C for the
  guardian and follows Exempt-Exempt-Exempt (EEE)
  tax regime.
• Documents required
• Birth certificate of the account holder.
• Address and Photo proof of the parent/guardian.
• The main aim of this scheme is to showcase that
  the future of girl child can be secured with a
  little bit of financial planning.

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VIJAYA BANK

• Vijaya Bank is a PAN India Institution, serving
  diverse sectors of the society
• The Bank offers a bouquet of innovative and
  attractive products and services to its
  customers. It has also incorporated a host of
  latest Digital Banking products, to provide the
  best services to its customers.
• Digital Banking services are
• VPAYQWIK
• Mobile Banking
• Net Banking
• Vijaya UPI
• Twitter banking and many more
• For details, visit https//www.vijayabank.com

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THANK-YOU