Your Sukanya Samriddhi Account can go Inactive: Know More

Many schemes are being run by the government for the bright future of daughters. One of these schemes is Sukanya Samriddhi Yojana. This is an investment scheme. In this Scheme, you can invest for your daughter’s education as well as marriage.

The government provides guaranteed returns under the Sukanya Samriddhi Yojana. If you are also taking benefit of the Sukanya Samriddhi Yojana, please note that you must deposit the minimum sum in your Sukanya account by March 31, 2024. If you don’t do this, your account will be closed. A fine will be required to reopen the account.

What is the Minimum Balance?

The Sukanya Samriddhi Yojana requires a minimum balance deposit within a financial year. If you do not do this, the account will be frozen and you will not be able to benefit from the tax benefits.

If you too have not deposited anything in the Sukanya account in the financial year 2023-24, then you should deposit the minimum amount in the account as soon as possible.

In the Sukanya Samriddhi Account, you have to deposit a minimum amount of Rs.250 in a financial year. In this, you can deposit a maximum of Rs.1.50 lakh in a year. If the minimum balance is not deposited, the account will be frozen, and a Rs.50 fine will be levied to reopen the account.

Along with a fine, you will be required to pay the minimum amount to activate the account. When the fine and minimum amount are paid, the account will be enabled.

Apart from that, the government has made Know Your Customer (KYC) necessary. If you have not yet completed your KYC, you should do so as soon as possible.

What is Sukanya Samriddhi Yojana?

The central government initiated this scheme for the education and marriage of daughters. This is a government scheme. In this, you start investing for your daughter for 10 years from the time the daughter is born. In this scheme, 8 percent interest is given by the government.