Corporation Bank Sukanya Samriddhi Account

Hello sir, my mother wants to open a Sukanya Samriddhi Account in corporation bank. Can any one tell me what are the features to open Sukanya Samriddhi Account in corporation bank?

Sukanya Samriddhi Scheme is aimed at improving the status of girl child in the country.

Corporation Bank has been one of the pioneers to roll out the best technological advances made in the financial industry. The bank was nationalised in the year 1980 and has since then made a huge mark in the field of financial products and services.

Sukanya Samriddhi Yojana Scheme is also a government led venture in which Corporation Bank is playing a major role due to its deep reach in rural and urban areas of the country.

Features of Corporation Bank Sukanya Samriddhi Account:

Account Opening Information

Eligible Age of girl child – The account can be availed by girls up to the age of 10 years.

Tenure – The overall tenure of the Sukanya Samriddhi Scheme is 21 years from the date of inception

Number of accounts – One account per girl child can be opened.

Deposit amount – The minimum deposit amount required is Rs.1000, thereafter in multiples of Rs.100.

Deposit period – Deposit period is a maximum of 14 years.

Interest – The rate of interest paid on the deposit is 9.2% per annum which is compounded and credited annually.

Deposit mode – Cash can be deposited in the deposit account via cheques, cash or demand drafts.

Premature closure – This deposit account can be closed prematurely only in the event of serious illness or death.

Account revival – Any discontinued account under the Sukanya Samridhhi Scheme can be revived by paying a penalty fee of RS.50 plus the deposit required for that term.

Deposit Withdrawal – When the girl child reaches the age of 18 years, she is eligible to withdraw 50% of the deposit amount for purpose of higher studies or marriage.

Documents are needed:

Birth certificate of girl child under whose name the account is being opened.
Proof of Identity of parent/legal guardian
Proof of Address of parent/legal guardian