About the scheme:
- It’s a small deposit scheme for Girl Child, launched as a part of the “Beti Bachao, Beti Padhao” campaign.
Aim of the Scheme:
- Parents can have a corpus for the future education of the Girl Child.
Feature of the Scheme:
- The Scheme will attract an Interest Rate of 7.6% compounded annually with options for monthly interest payments to be calculated on balance.
- The Scheme provides an Income Tax rebate. It is exempted under section 80C of the IT Act.
- To get enrolled in the scheme, the girl child must be below the age of 10 years.
- The scheme is valid for up to 2 daughters.
- The minimum amount that can be deposited is 250 with an annual ceiling of 1.5 Lakh in a financial year.
- The maximum period for which a deposit can be made is 15 years.
- The money could be withdrawn on completion of 21 years of age of the girl or on the marriage of account of the account holder (Whichever is earlier)