New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    What is the maximum one can deposit in the Sukanya

    Samriddhi Account?
    A Rs 50000 Correct Answer Incorrect Answer
    B Rs 100000 Correct Answer Incorrect Answer
    C Rs 150000 Correct Answer Incorrect Answer
    D Rs 500000 Correct Answer Incorrect Answer
    E No such limit Correct Answer Incorrect Answer

    Solution

    Sukanya Samriddhi Account is a Government of India backed saving scheme targeted at the parents of girl children. The scheme encourages parents to build a fund for the future education of their female child. Account can be opened in the name of a girl child till she attains the age of 10 years. A girl child is eligible for this account only if she is a resident Indian citizen when the account is opened, and remains so until the maturity or the closure of account. Only one account can be opened in the name of a girl child. Features: •Account can be opened in Post office and branches of authorised banks. •Account can be opened with a minimum of Rs. 250 and thereafter any amount in multiple of Rs. 100 can be deposited. A minimum of Rs. 250 must be deposited in a financial year. •Maximum Rs. 1,50,000 can be deposited in a financial year. •One withdrawal shall be allowed on attaining the age of 18 years of account holder to meet education expenses upto 50 % of the balance at the credit of preceding financial year. •The account can be transferred anywhere in India from one post office/bank to another. •The account shall mature on completion of 21 years from the date of opening of account or on the marriage of Account holder whichever is earlier.

    Practice Next

    Relevant for Exams: