New norms for Selvamagal Semipu Thittam
Posted on: 13/Apr/2016 3:36:15 PM
Launched last year, Selvamagal Semipu Thittam is a small savings scheme and is aimed at encouraging savings for a girl child`s education and marriage. There is a great response amongst the people for this scheme.
In order to popularize the scheme, the Central Government has made some changes.
Under Selvamagal Semipu Thittam, a girl born baby till the age of 14 years can join this scheme. Now a girl can open an account till the age of 15 years. Moreover Rs 1000 will be charged for lat remittance as well as default. This amount will be included in the savings account and interest will be given for the same.
Selvamagal Semipu Thittam held with any banks or post offices may be transferred under accepted terms and condition. Based on the existing rules any customers of existing bank or post offices can transfer their existing Sukanaya Samriddhi Yojana account to any other bank of their choice anywhere in India. The saving account holder account be closed Premature closing of the account is only possible, when the account holder is of 18 years age. When the account holder turns 18, there is a provision for partial withdrawn up to 50 percent of the deposit amount for the purposes of higher education and marriage. The deposit period of 21 years, but the account can be closed if the account holder shows proof of marriage.
