About scheme: The Sukanya Samriddhi Account (SSA) Scheme is a small deposit scheme run by the Government of India that is exclusively for a girl child. It was launched by Prime Minister Narendra Modi on January 22, 2015, as part of the Beti Bachao Beti Padhao campaign. The programme is designed to cover the cost of a girl's education and marriage. It is operated through the all Post Offices, branches of Public Sector Banks and three Private Sector Banks viz. HDFC Bank, Axis Bank and ICICI Bank.
Eligibility:
- The legal guardian may open the account immediately after the birth of the girl until she reaches the age of 10.
- Only one account is allowed per child.
- An account under this provision may be opened for a maximum of two girls in a family (provided that more than two accounts may be opened in a family if such children are born in the first or second birth order or both, upon presentation of an affidavit of the guardian supported by birth certificates of the twins/triplets on the birth of such multiple girls in the first two birth orders in a family; Provided further, That the above provision shall not apply to girls in the second birth order if the first birth order in the family results in two or more surviving girl children.).
Salient Features of SSAs:
- An account can be opened in the name of a girl until she reaches the age of 10.
- The account may be opened with a minimum deposit of Rs. 250 and thereafter in multiples of fifty rupees; Maximum deposits in an account shall not exceed 1,50,000 rupees in a fiscal year.
- On attainment of 18 years of age of the account holder, withdrawal is allowed to meet education/marriage expenses (at the rate of 50% of the balance in the previous financial year).
- The account can be transferred from one post office/bank to another anywhere in India.
- The account will mature after 21 years from the date of opening or on marriage of the girl in whose name the account was opened, whichever is earlier.
