Every girl child deserves equal rights as the rest of the citizens. She has the liberty to study, work, take household as well as office responsibilities and lead an independent life. She is entitled to receive benefits despite the financial crunch that families face most of the time. There is a lot of gender differentiation when it concerns them, and they succumb to the pressure from society and family. Nevertheless, she ensures to perform her best and treat every person with respect and courtesy.
According to the latest guidelines received from the Post Department, an account under the Sukanya Samriddhi Yojana can contain the ownership of the girl child who has attained the age of 10 years even during a crisis. Currently, the account fetches an interest rate of 7.6 per cent, which is the highest among all post office small saving schemes. The scheme also comes with a tax-free maturity and interest under Section 80C of the Income Tax Act of 1961, along with tax deductions. The interest rate is subject to alteration every quarter in a year.
Under SSY, either the parents or the guardian can invest for up to 2 daughters aged below ten years. Adopted daughters can also enjoy the benefits of this scheme. As soon as she turns 18, she can withdraw the whole amount from the account. Partial withdrawal facilities are also available. The maximum and minimum deposit amount for the account is INR 1.5 lakh and INR 1,000 in a financial year, respectively. Premature closure is allowed under exceptional circumstances where the account holder loses life or becomes an NRI during the currency. If the person ceases to be an Indian citizen, the account is closed before its maturity.
For checking the balance in the SSY account, parents, guardians, and even account holders can search online. Following is the procedure:
Apply to the respective bank and collect the login credentials. Note that not all banks have started offering this facility, and only a few banks let their account holders check their account balance online.
Using the login credentials, log in to the internet banking portal of the bank
After you login, go to the homepage and check the balance. The same is also visible on the dashboard of the account. Note that, through this process, account holders, parents, and guardians will only be able to view the balance in the account. They cannot make any transactions through this portal.
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