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Now we are going to see the information about the Selva Magal Scheme (Sukanya Smriti Yojana) implemented by the central government for the welfare of the girl child. This micro savings scheme is brought by the central government for higher education and marriage expenses of girls and is well received by the people. Selva Magal Scheme Calculator
Selva Magal Scheme Calculator
Sukanya Smriti Yojana (Selva Magal Scheme) was launched by the Prime Minister of India, Narendra Modi on January 22, 2015. Since its inception, it has attracted the attention of many people across India and is still the most popular scheme announced by the department. Post. Selva Magal Scheme Calculator
Features of Selva Magal Scheme
- Since this is a scheme implemented by the central government, their investment will be safe and secure.
- This is a long term investment plan.
- Opening an account is very easy.
- Option to subscribe through mobile is also available.
- The account can be transferred anywhere across India.
- The amount saved will help with the expenses of the child’s education or marriage after maturity.
- Maximum interest is paid on the amount saved.
- Selva Magal Scheme Calculator
Who can Apply For This Selva Magal Scheme
- Only girl child can open bank/post office account and save in Selvama Savings Scheme.
- In Selva Magal Yojana two girls per family can open account and save.
- Selva Magal Yojana account can be opened in the name of the girl child at any time from birth to ten years.
- Parents or guardians of girls below the age of 10 years can open this savings account.
- If the first child is a twin, then the next born girl child (3 girls) can be saved in this scheme.
- Selva Magal Scheme Calculator
How to open Account In Selva Magal Scheme?
- For this account, the SSA1 form has to be filled and submitted to the bank or post office on behalf of the parent or guardian of the girl child.
- Child’s name in that SSA1 form Parent’s Guardian’s name Child’s birth certificate,
- KYC details of the parents are to be filled and the asked documents are attached and submitted to that bank or post office, they will activate the account for the scheme.
- Also you can get passbook for . Selva Magal Scheme Calculator
How much can I deposit
- You can save a minimum of Rs 1000 to Rs 1,50,000 under the account in a financial year.
- 1,50,000 can be paid in lump sum or in several installments spread over the year.
- So far more than one crore accounts have been opened under the Selvamalam scheme.
Duration of Selva Magal Scheme
- Under this scheme, at least Rs 1000 can be saved every year for 21 years or till the woman gets married.
Selva Magal Yojana Interest Rate?
- The amount saved under this scheme earns interest at the rate of 7.6 per cent as on date.
- This interest is subject to change.
- If the payment is made within the first ten days of the month, interest will be calculated for that month also.
- If the minimum payment amount of Rs.1000 is not paid in a financial year, the account will be deactivated. Rs 50 fine for re-activating it. Selva Magal Scheme Calculator
- You can subscribe by paying in person at a bank or post office, or through mobile banking and internet banking.
- The money you save in this scheme being implemented for the benefit of the girl child is exempt from income tax as per Section 80C of the Income Tax Act, and you can get a maximum tax rebate of up to Rs 1.5 lakh on it . Total investment saved. Selva Magal Scheme Calculator
- You can transfer this account anywhere across India. Only Rs 100 should be paid at the time of such conversion. The reason for changing the house should also be mentioned.
Cash for emergencies
- You can take 50% of your savings in Selvama scheme for their emergency needs.
- how much money do you get . Selva Magal Scheme Calculator
- Following is the information about the fixed amount we are paying monthly after the maturity period of this plan.