Sukanya Samriddhi Yojna: Do you also have an account in the old Sukanya Samriddhi Yojna? You should know that the Modi government can close your Sukanya Samriddhi Yojna (SSY) account. It would be better if you do this work before 1st October, or else the government will close the SSY account. The government has recently changed the rules related to Sukanya Samriddhi Yojna.

The Department of Economic Affairs has recently issued new guidelines to regularize irregularly opened savings accounts under NSS. Here we are telling you which are the irregular accounts according to the government. To regularize these accounts, this work will have to be completed before 1st October.

Modi government changed the rules of Sukanya Samridhi Yojana

The government has issued new rules for Sukanya Samriddhi Yojana (SSY). These rules will come into effect from October 1, 2024. The government is asking people to correct the mistakes related to the account in time. So that any kind of trouble can be avoided in the future.

Have your grandparents opened Sukanya Samriddhi Yojana?

According to the guidelines, if grandparents have opened an account under Sukanya Samriddhi Yojana, then it needs to be corrected. According to the new rules, if the accounts opened under Sukanya Samriddhi Yojana are not opened by the legal guardian or natural parents, then they will now have to be transferred to the name of the guardian to follow the basic guidelines of the scheme. This is now mandatory. Earlier, grandparents often opened SSY accounts for their granddaughters as financial security. However, according to the guidelines of the scheme, only the legal guardian or natural parents can open and close these accounts.

Also Read: PNB warns customers, these types of accounts will be closed, do this work quickly

These documents will be required to close or transfer the old account

Basic Account Passbook: Which contains all the account details.

Birth Certificate of Girl Child: Proof of age and relationship.

Proof of relationship with the girl: Birth certificate or other legal documents that establish the relationship.

Proof of identity of the new guardian : Government-issued identification card of the parent or guardian.

Application Form : This will be available at the post office or bank where the account is opened.

After the documents, first of all they have to go to the post office or bank where the account was opened. They have to tell the officials about the need to transfer the account to the parents as per the new guidelines. After this, they have to fill the transfer form given by the bank or post office. Both the existing account holder (grandparents) and the new guardian (parents) have to sign this form.

Verification and updates

After submitting the form and supporting documents, the bank or post office staff will review the request and process the verification. If necessary, they may also ask for additional information. After the verification is complete, the account records will be updated with the information of the new guardian. Sukanya Samriddhi Yojana account holders must do this work before Tuesday 1 October 2024. Otherwise, the government can close your account.

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The post Govt issues new rules for Sukanya Samriddhi Yojana (SSY), will be implemented from October 1 first appeared on Rightsofemployees.com.

One such scheme is Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojna- SSY). This scheme has been made to shape the future of the daughters of the country. If you also want to invest for your daughter’s marriage or her good education, then investing in Sukanya Samriddhi Yojana is a good option.

You can start investing with just Rs.250

Under this scheme, the guardian or parents of a girl child of 10 years or less can open an account. The cost of investment is also very less in this. One can start investing with just Rs.250. Up to a maximum of Rs 1.50 lakh can be deposited under this scheme.

How much interest

The interest in this scheme is also better than other schemes. At present, interest is being given in this scheme at the rate of 7.6 per cent per annum. If the maximum investment limit is Rs 1.50 lakh as the base, then monthly you have to pay Rs 12500 in this scheme.

If the same interest rate remains the same, then after investing continuously for 14 years, your total principal amount becomes Rs 22.50 lakh. On maturity, you can get Rs 63.65 lakh. In this way you got a profit of Rs 41.15 lakh. Tax exemption benefits are also available in this scheme.

what is maturity period Although the maturity period of this scheme is 21 years, but money has to be deposited in it only for 14 years. Interest continues to accrue for the rest of the year. The amount of money you invest in this scheme, you will get almost 3 times the return on maturity. The maximum amount that can be raised through this scheme at the current interest rates is Rs 63.50 lakh.

keep these things in mind In Sukanya Samriddhi Yojna (SSY), interest is paid only on the minimum balance available between the 5th and the last date of every month. This means that if you do not invest money in it before or before the 5th of the month, you will not get interest for that month. Let us tell you that the calculation of interest in the scheme is done on a monthly basis, but the entire interest is credited only on March 31, the last day of the financial year.

The post Sukanya Samriddhi Yojana: By investing in this government scheme, you can get the benefit of 41 lakhs, know how first appeared on Rightsofemployees.com.