Central government raises the age limit for Selva Magal Saving Scheme to 12!
Posted on: 30/Oct/2015 2:22:19 PM
Considering the welfare of female children and their future, the central government has announced a concession in the scheme Selva magal saving Scheme regarding the age limit.
Until now, the upper age limit for opening a savings account under the Selva Magal Saving Scheme was 10. This has now been raised to 12.
In other words, it has been announced that female children, born between 3rd December, 2003 & 11th December, 2005 can also join this scheme by opening an account.
However, the central government has clarified that this age limit concession will be valid only till 1st December.
For the current financial year, the interest rate for this scheme has been announced as 9.2%. Savings Account udder the Selva Magal Saving Scheme can be opened in all Post Offices.
