Interest rate on deposts : 8.2 % with effect from 01-01-2024. Compounded annually with option for monthly interest pay-outs to be calculated on balance in completed thousands.
As applicable under section 80C of the IT Act, 1961, the scheme has been extended Triple exempt benefits i.e. there will be no tax on the amount invested, amount earned as interest and amount withdrawn.
Eligibility
Parents or legal guardians can open deposits on behalf of a girl children (including adopted girl child) for up to 2 daughters aged below 10. Three girl children, in case of twin girls as second birth or the first birth itself results in three girl children.
Only one account can be opened in the name of a girl child.
Minimum of Rs 250 of initial deposit with multiple of Rs 150 thereafter with annual ceiling of Rs.150000 in a financial year.
Maximum period upto which deposits can be made 15 years from the date of opening of the account. 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.
Requirement of a birth certificate of the girl child
The scholarship at pre-matric level will encourage parents from minority communities to send their school going children to school, lighten their financial burden on school education and sustain their efforts
A large number of programmes has been undertaken by different Ministries of Government of India for encouraging entrepreneurship in the county wherein care has been taken to ensure adequate participation
The objective of the Scheme is to provide financial assistance to the poor and meritorious students belonging to minority communities to enable them to pursue professional and technical courses. Eligibility
