It is a saving scheme specially designed for the parents of a girl child. The scheme was launched by Prime Minister Narendra Modi in January 2015, as a part of the Beti Bachao, Beti Padhao campaign.
Key Features:
- The account can be opened at any post office or branches of authorised commercial banks.
- Investment of minimum Rs 1000 and maximum Rs 1.5 lakh in a financial year. Subsequent deposits in multiple of Rs 100.
- No limit on number of deposits either in a month or in a Financial Year.
- A legal guardian/natural guardian can open account in the name of girl child.
- A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different girl children.
- Account can be opened up to age of 10 years only from the date of birth.
- Partial withdrawal, maximum up to 50 per cent of balance standing at the end of the preceding financial year can be taken after account holder attaining age of 18 years.
- Account can be closed after completion of 21 years.
- Normal premature closure will be allowed after completion of 18 years, provided that girl is married.
Source: India Post
