A person can open and operate only one account in the name of a girl child and maximum two accounts in the name of two different girl children. In case of mutilated or defaced certificates, no indemnity bond is required. Original/certified copy of legal evidence. This was done in line with a moderation in overall interest rate in the financial system. JavaScript is a standard programming language that is included to provide interactive features, Kindly enable Javascript in your browser. Medical certificate in case of the birth of multiple children under the birth of one. In case of bouncing of Cheque INR. 1000 Dn. The scheme has been serving and helping families with this scheme and leading to higher education and a lower poverty rate in India. So, if you want to calculate your interest then you have to enter your yearly installment amount in Yearly Investment option. The interest rate for Sukanya Yojana for the current year … 1stYear= Rs.68.00 2ndYear=Rs.72.62 3rd Year=Rs.77.56 4th Year=Rs.82.84 5th Year=Rs.88.47. The investor should apply in the prescribed form for duplicate certificate in respect of lost, stolen, destroyed, mutilated or defaced certificates (NC-29). 50/- is charges as service charge. What are the norms for issuing a Cheque Books? In case you can’t find any email from our side, please check the spam folder. This will work within POSB ie DoP network. For revival, one application from the customer with KYC documents is required. TD account can be extended by giving an application in account office, Interest shall be payable annually, No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder, The annual interest may be credited to the savings account of the account holder at his option, Premature encashment not allowed before expiry of 6 month, If closed between 6 month to 12 month from date of Opening, Post Office Saving Accounts interest rate will be payable. Premature encashment is not permitted (except in case of death and forfeiture)., Metro Cities - 3 free transactions (Both Financial & Non Financial). You can apply for this from 0 to 10 years of baby girl age. Join Mint channel in your Telegram and stay updated with the latest business news. (For financial &non financial transactions). -> The President of India/Governor of the State. 01.07.2016. INR. 2. The Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana 2020) has an annual interest rate of 8.5 percent. Suppose your baby girl age is 10 year then your maturity period will be 11 years from 10 years to 21 years. Penalty amount: If the minimum of Rs. If you fit all criteria then you are eligible for this scheme. account shall be date of opening of account. Claim up to one lakh can be settled. There is no provision. Suppose Indian Post is providing 7.5% interest on deposit and Banks are providing 8.2% interest then I would suggest you go for banks. Except post office savings deposits, all other small savings products have seen a 10-basis-point rate cut, in the wake of falling interest rate across the financial system. Content owned and updated by Department of Posts, Ministry of Communications, Government of India. The application may be given in either of the offices. Charges in respect of different types of ATM transactions are given below., Free transactions at other bank ATMs (Per month), Charges after free transactions at other bank ATMs. How to transfer accounts and certificate? reduce it to 250 rupees for supporting poor families in rural areas. Post Office Term Deposits: With the latest reduction, post office term deposits of 1-3 years will now earn an interest rate of 5.5% as against 6.9%, down 140 basis points. An account in which a deposit or withdrawal has not taken place for three complete Financial Years, shall be treated as silent account. account shall be date of opening of account, Single account can be converted into Joint and Vice Versa. If minimum Rs 250/- 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. Normal Premature closure will be allowed after completion of 18 years on the occasion of marriage (1 month before and 3 month from date of marriage). Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts (Rs. 10 for 6 month and Rs. The interest accruing annually but deemed to be reinvested under Section 80C of IT Act. Through this scheme, parents can open SSY account for depositing regular yearly basis savings. For this quarter, PPF will fetch 7.1% as compared to 7.9% earlier. CategoriesGovernment Schemes, Central GovernmentTagsSukanya samriddhi yojana, sukanya samriddhi yojana calculator, sukanya yojana, Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. However, interest on savings deposits has been retained at 4% annually.