If the account holder dies, the account can be closed. Sukanya Samriddhi can be closed if the account holder becomes very serious whose life is in danger or the guardian of the account holder who operates the account dies.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a special scheme run for daughters. This scheme helps in shaping the fortunes of daughters. Sukanya Samriddhi Yojana OR under section 80C in SSY scheme tax exemption meets. Tax exemption is given on investment and return money. Daughter’s age should be less than 10 years, only then Sukanya Samriddhi account will be opened. At the time of opening the account, a minimum deposit of Rs 250 has to be made. Then at least the same amount will have to be deposited every year. However, a minimum deposit of Rs 250 to a maximum of Rs 1.5 lakh can be made in a year. A big question related to this scheme arises whether the Sukanya Samriddhi account can be closed before maturity ie premature?
The FAQ of ICICI Bank states that the SSY account can be closed prematurely only in certain circumstances. If the account holder dies, the account can be closed. Sukanya Samriddhi can be closed if the account holder becomes very serious whose life is in danger or the guardian of the account holder who operates the account dies. Apart from this, Sukanya Samriddhi Account cannot be closed before 5 years under any other circumstances.
On the death of the account holder, his death certificate will have to be submitted to the bank or post office. With this the Sukanya Samriddhi account will be closed. The money deposited in the account and the interest amount is returned to the parent or guardian of the account holder. Interest is compounded till the month preceding the closure of the account. Under this scheme, only one Sukanya Samriddhi account can be opened in the name of the daughter.
Who can open account
According to the ICICI Bank website, Sukanya Samriddhi Account can be opened in the name of the daughter by her parents or legal guardian from the date of birth till she attains the age of 10 years. Only one account will be opened in the name of one daughter, but parents or guardians can open this account for their two daughters. A parent or guardian can open a Sukanya account in the name of three daughters only when twin daughters are born to them and then another daughter is born.
Among small savings schemes, the name of Sukanya Samriddhi is included in the highest interest paying scheme. New interest rates for the current quarter may be announced at the end of this month. It is possible that the government may increase the interest rates of this scheme. However, its rates did not increase for several quarters. At present, 7.6% interest is being given in this scheme.