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Sukanya Samriddhi Yojana by Vijaya Bank

This is a small savings scheme launched by Prime Minister Narendra Modi as a part of the ‘Beti Bachao Beti Padhao’<br>

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Sukanya Samriddhi Yojana by Vijaya Bank

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  1. Sukanya Samriddhi Yojana by Vijaya Bank

  2. Sukanya Samriddhi Yojana • This is a small savings scheme launched by Prime Minister Narendra Modi as a part of the ‘BetiBachaoBetiPadhao’ 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.

  3. 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..

  4. 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.

  5. Additional Details (2/2) • Withdrawal: • Up to 50% of the amount can be withdrawn before the maturity provided the account holder has reached 18 years of age or has passed class 10th.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.

  6. 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 bankingand many more… For details, visit: https://www.vijayabank.com

  7. THANK-YOU

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