Sukanya Samriddhi Yojana latest guidelines: The Finance Ministry‘s Department of Economic Affairs recently issued the latest guidelines to regularise irregularly opened small savings accounts under the NSS. Here are the latest guidelines for Sukanya Samriddhi Accounts that investors need to follow:
Sukanya Samriddhi Accounts opened by grandparents
In the case of accounts opened under the guardianship of grandparents (who are not legal guardians), the guardianship shall be transferred to a person authorised by the law in force, namely the natural guardian (living parents) or the legal guardian, according to a circular by the Department of Posts circular dated August 21, 2024.
How to open Sukanya Samriddhi Yojana account with the Post Office
More than two Sukanya Samriddhi Accounts in family
If more than two accounts are opened in a family of Sukanya Samriddhi Account Scheme, 2019, then the irregular accounts will be closed by treating them as accounts opened in contravention of the scheme guidelines, the circular said.
Sukanya Samriddhi Accounts update: PAN and Aadhaar details required
The PAN and Aadhaar details of the account holder(s) and guardian if not already available will be obtained without delay and entered into the system before submitting regularization requests to this office.The government has directed all post offices to take immediate steps to identify such accounts and notify account holders of the approved rules via all channels. All circles/regions/divisions are requested to proactively track situations that require regularization in order to reduce inconvenience to small savings scheme account holders.
Can your Sukanya Samriddhi Yojana account be closed?
According to the circular, “it needs to be noted that the power to regularise irregular small savings accounts is vested with the Ministry of Finance. Therefore, all cases pertaining to irregular accounts should be forwarded to this division for regularisation by the Ministry of Finance.””Only on receipt of the concurrence Budget Division, DEA, Ministry of Finance for regularisation of irregular accounts opened under various National Small Schemes, the Offices shall settle those accounts following the mentioned guidelines,” the circular added.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi account is a savings scheme devised by the Government of India to aid a girl child’s financial stability for education and marriage. The scheme encourages every girl child’s parent to deposit and create a corpus for her beneficial future.
What are the features of Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana Plan has a set of rules laid out by the Government of India. They include:
a) The minimum deposit of Rs. 250 per month and a maximum of 1.5 lakh.
b) The interest rate of Sukanya Samriddhi for this quarter is 8.2% p.a for July to September. (subject to change as per quarterly guidelines from GOI).
c) The account will mature after the completion of 21 years from the date of opening a Sukanya Samriddhi account.
d) Parents or guardians will operate the account till the child completes 18 years of age.
Which document is required to open Sukanya Samriddhi Yojana account?
According to the SBI website, “The application Form-1 for opening an account shall be accompanied by the birth certificate of the girl child in whose name the account is to be opened, along with required documents (Aadhaar and PAN) relating to identity and residence proof of the Guardian.”
“Birth certificate issued by the municipal authority, or any office authorized to issue birth and death certificate by the Registrar of Births and Deaths, or the Indian Consulate as defined in clause (d) of sub-section (1) of section 2 of the Citizenship Act, 1955 (57 of 1955).”