The talk of the
town and many places are about a new scheme going hot on whatsapp circulation,
it is not about “Sukanya Samriddhi
Account”, and it is about making money or a kind of investment to the expectations
of people who are looking to make easy money. The scheme about parents having a
daughter who is below 10 years, they need to open an account in her name by
paying Rs. 1000 for the first time and has to pay Rs. 100 every month till she
completes the age of 21 will get Rs. 6,50,000 for her marriage. How it is
possible? Even one who opens an account for his or her infant baby and pays
that monthly Rs. 100 at the age of 21, with interest it will come to Rs. 40,000
or so, but how come the amount jump to Rs. 6,50,000 seems a fake message in the
name of “Selva
Maghal Thirumana Thittam” (Disclaimer: Please, check for such a scheme).
If
you google and do a search for “Selva Maghal Thirumana Thittam”, you will find
a lot of marriage halls in Tamil Nadu but not the information about scheme.
What I found was “Sukanya
Samriddhi Account” or “Selvamagal Semipu”, which is a Girl
Child Prosperity Scheme where a parent or guardian needs to open an account in
girl’s name in a post office or authorized commercial bank and earn an interest
currently 9.1% (FY 2014-15) to whatever
the amount the deposited in that account to a maximum cap of Rs. 1,50,000 per
account per year and the amount is exempted under section 80C of income tax,
India.
Be sure that one
may not get Rs. 6,50,000 on paying Rs. 100 every month till the girl attains
the age of 21, it is a Girl Child Prosperity Scheme named “Sukanya Samriddhi Account” launched with effective notification
from Ministry of Finance with notification number G.S.R.863(E) Dated
02.12.2014, scheme will be governed by ‘Sukanya Samriddhi Account Rules, 2014’
Under the
scheme, an interest of 9.1 per cent is provided on deposited amount which is
tax free. The account under this scheme a saving account can be opened by the
parent or legal guardian of a girl child of less than 10 years of age (born on
or after: 02-December-2003; For FY 2014-15) with a minimum deposit of ₹
1,000/- in any post office or authorized branches of commercial bank.
Partial
withdrawal up to 50 per cent of the account balance is allowed to meet
education expenses of the girl child till she attains 18 years of age. The
account will remain operative for 21 years from the date of opening of the
account or till marriage of the girl child.
Features Of Sukanya
Samriddhi Account
- Per girl child only single account is allowed. Parents can open this account for maximum two girl child. In case of twins this facility will be extended to third child
- Minimum deposit amount for this account is ₹ 1,000/- and maximum is ₹ 1,50,000/- per year.
- Money to be deposited for 14 years in this account.
- Interest rate for this account is 9.1% per annum, calculated on yearly basis ,Yearly compounded.
- Passbook facility is available with Sukanya Samriddhi account.
- From FY 2015-16 the interest earned on account will be tax exempted. As per Finance Bill 2015-16.
Document required for
opening Sukanya Samriddhi Account:-
Birth certificate of
girl child along with Address proof and Identity proof of parent or gurdian of the girl child.
Below chart is to understand the amount invested and final amount to be
received till the girl child attains the age of 21 in Sukanya Samriddhi
account. Table gives a clear picture for yearly investment of Rs. 1,000.00 and Rs. 1,50,000.00 for a investment period of 14 years.
Thanks to my investment ideas: http://goo.gl/dfJ0eF