Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana has undergone major changes, be aware of the new rules before investing
During the ‘Beti Bachao-Beti Padhao’ campaign in 2015, the central government started the Sukanya Samridhi Yojana to encourage a better future for the girl child. You can make a big fund for your daughter’s education or marriage using this scheme. This scheme allows a parent or guardian to open only one account in the name of one daughter.
There can be no more than two accounts opened in the names of two different daughters at the same time. Sukanya Samriddhi Yojana is a fixed-income scheme similar to a bank deposit, in which the interest declared by the government can be earned every year by depositing money. A daughter living in the home can also benefit from this scheme if an account is opened under it. As part of this plan, some changes have also been made since the beginning, which you should be aware of. Please let us know what changes have been made.
What were the changes in Sukanya Samriddhi Yojana?
Also, a third daughter’s account can be opened
Earlier in this scheme, accounts could only be opened for two daughters. At the same time, this benefit was not available for the third daughter. The new rule allows the account to be opened for both daughters if there are twins born after one daughter.
The interest rate on the default account will not change
The new rule says that even if the Sukanya Samriddhi account is deemed to be in default for any reason and the account is not reactivated, interest will continue to accrue on the deposit until maturity at the applicable rate.
An account can be closed prematurely
Previously, the account could only be closed under two circumstances. First, if the daughter dies, and then if the daughter’s residence changes. Since the new change, the account holder’s life-threatening illness has also been included. Aside from this, the account can be closed prematurely even after the death of the guardian.
The daughter can operate the account by herself
There was a rule in this scheme that the daughter could operate the account only within 10 years of its inception, but pursuant to the new rules, the daughter will not be able to operate the account before the age of 18. Before that, only the parent could operate the account.