INSUBCONTINENT EXCLUSIVE:
Sukanya Samriddhi account can be closed after completion of 21 years, said India Post.India Post, the postal system of the country, offers
several savings schemes which require modest contribution but offer attractive investment return
It is calculated and compounded on a yearly basis
It is a government-run account for the girl child and requires a minimum and maximum investment of Rs 1,000 and Rs 1,50,000 in a financial
A legal or natural guardian can open Sukanya Samriddhi account in the name of girl child.2
A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different girl children,
There is no limit on the number of deposits either in a month or in a financial year in a Sukanya Samriddhi account, according to India Post
If minimum of Rs 1,000 is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50 per
year with minimum amount required for deposit for that year, said India Post.8
Partial withdrawal, maximum up to 50 per cent of balance standing at the end of the preceding financial year can be taken after account
holder attains the age of 18 years.9
Account can be closed after completion of 21 years.10
Normal premature closure is allowed after completion of 18 years, provided that girl is married.For the latest News Live Updates on
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