The provisions in budget 2015 has brought the cheers on the faces of proud fathers of lovely daughters. The recently launched Sukanya Samriddhi Scheme was categorised as EEE i.e Exempt Exempt Exempt Scheme which means all the contribution under upto 1,50,000 is allowed for deduction under section 80C and also both interest and maturity will be exempt from taxes. The scheme will attract many also for the interest rate of 9.1% as compared to 8.7% in PPF. (Also see Tax benefits and comparison with PPF).
RBI has announced the list of banks for opening of these account that includes both public sector as well as private sector banks. These banks are
| State Bank of Travancore |
| State Bank of Hyderabad |
| State Bank of Mysore |
| Andhra Bank |
| Allahabad Bank |
| Bank of Baroda |
| Bank of India |
| Punjab & Sind Bank |
| Bank of Maharashtra |
| Canara Bank |
| Central Bank of India |
| Corporation Bank |
| Dena Bank |
| Indian Bank |
| Indian Overseas Bank |
| Punjab National Bank |
| Syndicate Bank |
| UCO Bank |
| Oriental Bank of Commerce |
| Union Bank of India |
| United Bank of India |
| Vijaya Bank |
| Axis Bank Ltd |
| ICICI Bank Ltd |
| IDBI Bank Ltd |
Apart from this list, the account under Sukanya Samriddhi Yojana may also be opened with Post Offices.
As per scheme, the accounts may be opened for girls upto the age of 10 years for their higher education and marriage. The other schemes offered as small saving schemes are PPF, KVP, NPS and other post office schemes.
