Product Features
- The account can be opened on behalf of the girl child by her parents or legal guardians.
- A maximum of 2 accounts can be opened, and in the case of twins, a total of 3 accounts can be opened.
- Minimum deposit amount Rs.1000 per year ; Maximum deposit amount Rs.1,50,000 per year
- Deposits in the account can be made in multiples of Rs 100 subject to the condition that a minimum of Rs 1000 shall be deposited in a financial year in the account
- Tax benefits and advantages: Tax rebate under Section 80C of the Income Tax Act, 1961 for all deposits made under this scheme
- Deposits can be made through cash, cheque, and demand drafts.
- Passbook/Statement facility available
- Upon attaining the age of 18, the girl child in whose name the account has been created, can withdraw up to 50% of the balance.
- Account will mature after 21 years from the date on which the account was created, or on the date of marriage of the girl child in whose name the account was created
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- Passbook/ Statement facility available
- Interest earned on account will be tax exempted as per Finance Bill 2015-16.
- Partial withdrawal up to 50% of the account balance is allowed to meet education/marriage expenses of the girl child after she attains 18 years of age. The account will remain operative for 21 years from
the date of opening of the account or till marriage of the girl child.
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