Objective: Aims to ensure equitable share to a girl child in resources and savings of a family
Scheme:
- It is small deposit scheme for girl child launched under “Beti Bachao, Beti Padhao” Scheme
- The scheme offers higher interest rate than PPF.
- But it is only for girls below age of 10 years with longer lock in period.
Factual Information:
- Started in 2015
- Investment type: small deposit account
- Where: post office and selected banks
- Max number of account: 1 account per girl
- Max number of accounts per family: max. 2 girl child
- Age: from birth till 10 years of girl child
- Min. deposit: Rs. 250/ per year (Earlier it was Rs 1000) further multiple of Rs. 100
- Max. deposit: 1.5 lakh/year
- Interest rate: 9.1% of financial year 2014-15. It will change every year
- Partial withdrawal: 50% allowed at the age of 18 years of girl
- Maturity : 21 years from the date of account open or marriage, whichever is earlier