Sukanya Samriddhi Yojana is a small savings scheme, which was launched by the Central Government for daughters. The objective of this scheme is to provide financial assistance for the education and marriage of daughters. Till now, the daughters of the country have received financial benefits on a large scale from Sukanya Samriddhi Yojana.

It often happens that people open the Sukanya Samriddhi Account in the name of their daughter. But, due to some reason, you forget to deposit money in the account on time or are not able to deposit the installment payment. In this situation this account becomes inactive. But, now you do not need to worry about this at all. The account can be easily reactivated.

Identify the reasons for Sukanya Samriddhi's inactive account:

To open an account under Sukanya Samriddhi Yojana, any account holder needs to deposit only Rs 250. To keep a Sukanya account active, an account holder has to deposit at least Rs 250 every year.

According to the rules under this scheme, in such a situation, if an account holder is not able to deposit even this amount, then the account of such user is considered to be the default. At the same time, if 10 years have passed since the opening of your daughter's account, then it will become a regular savings account and the benefits of Sukanya Samriddhi Yojana will not be available. In this condition this Sukanya account becomes inactive. It can be reactivated like this.

Revival process of Sukanya Samriddhi Yojana:

  • Go to the bank or post office where you have your account.
  • To revive the account, take the application form and fill it out.
  • Pay the outstanding amount due to the reason for inactivity.
  • This will include the minimum deposit amount of the previous year and a penalty of Rs 50 per year.
  • Also, deposit the minimum deposit amount for the current financial year.
  • Submit photocopies of necessary documents (daughter's birth certificate, account holder's identity card, etc.).
  • Now submit both the application form and payment.

Sukanya Samriddhi Yojana after Revival:

  • Your account will be reactivated and you can now make regular deposits.
  • After revival, the same penalty will be applicable for the withdrawal of money before the age of 18 years.
  • The interest rate on post office savings accounts is 4 percent. Whereas, 7.6% interest is available on Sukanya Samriddhi.
  • Sukanya Samriddhi Yojana earlier had a 1% penalty on pre-withdrawal before the age of 18 years. But now it has been reduced to 0.5%.

Important rules of Sukanya Samriddhi Yojana

  • The minimum amount to be deposited in the account is Rs 250 per month.
  • A maximum of Rs 21 lakh can be deposited in the account.
  • The account operated under Sukanya Samriddhi Yojana lasts till the age of 21 years.
  • There is a penalty for withdrawing money from the account before the age of 18 years.
  • On death, the remaining amount is paid to the daughter's father, mother, husband or guardian.

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