Latest News
-
100 Grams Of 22K Gold Dearer By Rs 5000 In India: Check Yellow Metal Prices After Latest Rise -
Google Maps Likely To Let EV Drivers Locate Charging Stations Around Them; Here's How One Can Use It! -
Gold Prices In Dubai Shines Amid Middle East Tensions; But, What Will Happen If The Iran-Israel War Eases? -
India’s Macro Economic Outlook: A CFO's Viewpoint -
112% Returns In 1 Year: Bajaj Auto Shares Slump Despite Strong Q4 Earnings; Net Profit Surges 35% -
Rs 40/Share Dividend: Small Cap Under Rs 100 To Hit Ex-Date In 4-Days, Gains 74.21% In 1-Week -
1:2 Bonus, Rs 401/Sh Dividend; Tata's NBFC Stock Falls On Big Update Related To Dividend Recommendations -
Crude Oil Prices Soar 4% Amidst Rising Middle East Conflict; Brent Surges Past $90 A Barrel -
Bloodbath In Stock Market: Sensex, Nifty Crashes By 1% On April 19; 10 Key Points Here -
Black Friday For Market? Sensex & Nifty Decline For The 5th Straight Day Amidst Rising Geopolitical Tensions
8 New Rules Under The Sukanya Samriddhi Scheme 2016
The government last year launched a deposit scheme called Sukanya Samriddhi Account, which can be opened for a minor girl child in India. The main purpose of this scheme is to encourage parents to maintain disciplined savings which will help them during education or marriage of the girl child.
Sukanya Samriddhi Account can be opened and maintained with the post office or any banks. Individuals who are planning to open or already haven an account should know the new rules.
Here are 8 new Sukanya Samriddhi rules for 2016:
Change in Residential Status
If there is a change of residential status of the account holder, no interest will be deemed to accrue from the change of such status and the account will be closed prematurely from that date.
Transfer of account
The account can be transferred between the post office and Bank, free of cost on furnishing of proof of shifting of residence.
Otherwise a payment of fees of Rs 100 to the post office or the Bank to which the transfer is made will be applicable.
Maximum amount
The total money deposited in an account should not exceed Rs 1.5 lakh in a financial year and extra amount is not eligible for any interest.
The excess amount deposited of an annual ceiling of Rs 1.5 lakh can be withdrawn anytime by the depositor.
Interest rate
The interest rate will be compounded yearly at the rate notified by the Government from time to time and shall be credited.
As of now, government will declare interest rates for every quarter. The interest rate for this quarter is kept unchanged at 8.5 per annum.
Deposit age
Earlier, deposits can be made till the age of 14, now it has been increased to the age of 15.
Minimum Deposit
Earlier, minimum deposit per annum to be made was Rs 1,000 to get interest at the rate of 8.5 per cent. Now, if the minimum deposit is not made, a person is eligible for only 4 per cent interest.
Electronic transfers
Earlier, deposits to be made only in cash or cheque/DD. Now, the guardian can make payments through electronic means (e-transfer) in the concerned post office or Bank if such post office or bank.
Maturity
The Account will mature on completion of a period of twenty-one years from the date of its opening. No interestshall be payable once the account completes twenty-one years from the date of its opening.
