Minimum yearly deposit for Sukanya Samriddhi account to Rs 250

The government has slashed the minimum annual deposit requirement for accounts under the Sukanya Samriddhi Yojana to Rs 250 from Rs 1,000 – a move that will enable more number of people to take advantage of the girl child savings scheme. The government amended the Sukanya Samriddhi Account Rules – 2016 to state that the minimum initial deposit to open the account would be Rs 250.

Sukanya Samriddhi scheme was launched in 2015. Till November 2017, more than 1.26 crore accounts were opened across the country securing an amount of Rs 19,183 crore.

Under the scheme, a parent or legal guardian can open an account in the name of the girl child until she attains the age of ten years. The account can be opened in any post office branch and designated public sector banks. After the recent change, the minimum deposit that needs to be made every year is Rs 250 and the maximum amount that can be deposited in a year is Rs 1.5 lakh. There is no limit on the number of deposits either in a month or in a financial year.

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