Sukanya Samriddhi Yojana Rules Changed: Checkout the Benefit to the Account Holders

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Some changes have been made in the Sukanya Samriddhi Yojana run for daughters .

The impact of these modifications will be felt by account holders. Thus, it is important to be aware of all these developments. It becomes important to know this if you wish to register a new account with the previous account holder.

The default account has undergone significant alteration. Previously, if any Sukanya Samriddhi account was in default, the government did not pay the full interest due. With the new rule, the sum placed in the account will earn the full interest rate ( Sukanya Samriddhi Interest Rate ).

In other words, the interest rate on the account won’t change even if Sukanya Samriddhi’s account experiences a default. The customer will be able to see the benefit of this on their account, and they will have access to the full interest rate.

The previous default account regulation stated that it received interest at a rate of 4%. However, interest will still be paid at the existing rate, or 7.6 percent, even after the default. Customers will now receive full interest on the default account as well; there will be no deductions from it.

The management of the account is the second significant change. It used to be that a girl child could manage her own Sukanya account once she became 10 years old. This age has now been raised to 18 years old. The daughter’s account may be used by her guardian until she turns 18 years old.

You can Easily Transfer Account

Now, the Sukanya Samriddhi account can be moved from one region of the nation to another by the girl’s parents or legal guardians. Transferring this account from one post office to another is simple. This will make it easier for parents or guardians who relocate as a result of a transfer or posting.

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If a Sukanya Samriddhi Yojana account is opened at the post office, the account holder’s name can be changed there with ease. Documents must be supplied in order to change the daughter’s name.

Your Name Correction

In order to change the name, a postal document must be submitted. There will also need to be documentation of the name change provided. It will be necessary to provide a birth certificate, identity card, and proof of residency. These modifications, in which the daughter’s surname changes, are frequently encountered after marriage.

The required certificates and documentation must be produced at the post office in order to correct this. Additionally, the Sukanya Samriddhi Yojana form must be completed. After carefully reviewing the paperwork, the name will then be altered.

Account for 3 daughters

Only two daughters can be registered for a Sukanya Samriddhi account per family. Up until today, this was the rule. But there has been a significant change in this. When a girl gives birth to two twin daughters, an account can be opened for the entire family. In other words, a family may open three accounts in the names of the first and second twins.

A Sukanya Samriddhi account cannot be formed in the names of all three daughters if someone initially has twin girls and then subsequently has another daughter. The account of a daughter who was born later cannot be opened under the new Sukanya Samriddhi Yojana rule.

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