Central Government has announced a special deposit savings program for girl children. This special deposit program is named as Sukanya Samriddhi account. Notification says, this account can be opened in banks or post office. Also, this account can be transferred anywhere in India while the girl child shifts to any other locality.
Account should be opened in the name of the girl child upto 10 years of age. Amount deposited under this special scheme can be withdrawn during her higher studies or marriage. 50% of the fund deposited can be taken for higher education after the girl child attains age of 18. Rest 50% can be withdrawn at the age of 21 for marriage. In this Sukanya Samriddhi scheme, amount deposited gets matured after 21 years.
In case of death, the account will be closed immediately and the fund deposited will be paid to the account holder parents or guardian with interest. Now, the Government has announced only the special deposit scheme, (Sukanya Samriddhi) special interest rates for this scheme will be notified sooner.