laadli beti yojana vs sukanya samridhi yojana point wise comparison which scheme is best for your girl child. watch video for more clarity
sukanya samridhi yojana vs laadli beti scheme
sukanya samridhi yojana and laadli beti yojana both the scheme are government sponsored scheme meant for upliftment of girl child. The objective of these schemes is to arrest the declining female sex ratio. These scheme further intends to ensure that the girl child does not become a burden for the parent or guardian at the time of her marriage. In this article we have made a detailed comparison among these two schemes.
| SUKANYA SAMRIDHI YOJANA | LAADLI BETI YOJANA |
| Launched in the year 2014 Maximum age of a girl child should not be more than 10 years only one a/c per girl child. The max number of a/c allowed under this scheme is two. In case of triplets or twins, there is a provision of opening three a/c minimum deposit of Rs, 250 maximum deposit accepted -Rs. 1, 50,000. No withdrawals are permitted till 18 After 18, partial withdrawal upto 50% of the account balance is allowed, to meet education expenses or marriage expenses. Nomination facility available. No loan facility Birth Certificate of the girl child Photograph of the parent/ legal guardian of the girl child KYC Documents (Identity & Address Proof) of the parent/ guardian Income tax benefits under section 80C of the Indian Income Tax Act, 1961. Besides, the maturity benefits received at the end of this scheme is also tax-free. Account can be opened in any post offices or authorized commercial banks. | Launched in the year 2015 Girl Child born on or after 01/04/2015Family income less than Rs 75000 One account per child Phase I RD A/c for 14yr - Rs. 1000/- per month Phase II: Term Deposit (CCR) for 07 years. No credits other than monthly contribution of Rs. 1000/- by J&K Government No partial drawls or Foreclosure will be allowed under any circumstances during any phase Nomination facility not applicable No loan facility Birth Certificate of the girl child Photograph of the parent/ legal guardian of the girl child KYC Documents (Identity & Address Proof) of the parent/ guardian Income proof As scheme is aimed at households having annual income less than 75000/- The TDS shall not be deducted as long as the guardian / beneficiary furnishes form 15G/15H every year and has a valid PAN Account can be opened in authorized branches of J&K Bank. |
conclusion
After comparing both the schemes Laadli Beti yojana and Sukanya Samridhi Yojana we have arrived at conclusion that both the schemes are beneficial for girl child. Laadli Beti Yojana is totally financed by government and no personal contribution is allowed in this scheme but this scheme is restricted to residents of J&K UT and Ladakh UT but Sukanya Samridhi Yojana is applicable in pan India
SUKANYA SAMRIDHI YOJANNA
Launch Date
Sukanya Samriddhi Yojana launched in the year 2014 by Prime Minister Shri Narendra Modi.
Only girl children are eligible to hold Sukanya Samriddhi account.
Eligibility
The maximum age of a girl child should not be more than 10 years.Usually, the Sukanya Samridhi scheme allows only one account can to be opened against one girl child. The maximum number of accounts allowed under this scheme is two. In case of triplets or twins, there is a provision of opening three accounts by the same parents or legal guardian.
Tax Benefits
income tax benefits under section 80C of the Indian Income Tax Act, 1961. Besides, the maturity benefits received at the end of this scheme is also tax-free.
Account Opening
Account can be opened in any post offices or authorized commercial banks
Deposit Limit
A minimum deposit of Rs, 250 is required to open this account. The maximum deposit accepted by this account is Rs. 1, 50,000.
Partial Withdrawal
No withdrawals are permitted till the account holder (girl child) reaches the age of 18. After the account holder reaches the age of 18, partial withdrawal upto 50% of the account balance is allowed, to meet education expenses or marriage expenses.
Documents Required
- SSY Account Opening form
- Birth Certificate of the girl child, having the child’s name on it
- Photograph of the parent/ legal guardian of the girl child
- KYC Documents (Identity & Address Proof) of the parent/ guardian
- Passport
- Voter's Identity Card
- Driving Licence
- Aadhaar Letter/Card
- NREGA Card
- PAN Card
Any one document towards proof of identity and proof of address (either permanent or current )
Laadli Beti Yojana
Launch Date
launched in the year 2014 by the Chie Minister of Jammu and Kashmir Smt. Mehbooba Mufti
Eligibility
Girl Child born on or after 01/04/2015 whose applications are complete in all respect accompanied with sanction letter from Child Development Project Officer (CDPO) of the selected domiciliary district (Srinagar, Anantnag, Budgam, Jammu, Kathua, Pulwama, Samba, Kishtwar).
Girl child born to parents whose annual income from all sources is less than Rs 75000
Deposit Limit
- Recurring deposit account under this scheme shall be opened by the natural or legal guardian of the girl child.
- A contribution of Rs. 1000/- per month will be made by J&K Government from the birth of the girl child / account opening date for the next 14 years. (A total of Rs. 168000/- only will be contributed by the UT.)
- No credits other than monthly contribution of Rs. 1000/- by J&K Government is to be allowed in Phase I (RD Account)
- After the maturity of Phase I (recurring deposit account) the account will graduate to Phase II (Cumulative Term Deposit account).
Maturity
Maturity benefits under the scheme will be paid to the beneficiary on completion of 21 years of age or 21 years after the first installment or 85 months after the last installment whichever is later by crediting the saving bank account of the girl child. However, the girl child is at liberty to reinvest the amount in any deposit plan of the bank at card rates.
Nomination Facility
Nomination facility will not be applicable in scheme. In an unfortunate event of the death of the girl child, the account will be closed immediately and the balance amount along with interest accrued will revert to the Union Territories of J&K and Ladakh
Documents Required
- Application Form
- KYC Norms of Parent/ Guardian
- Passport
- Voter's Identity Card
- Driving Licence
- Aadhaar Letter/Card
- NREGA Card
- PAN Card
- sanction letter from Child Development Project Officer
Any one document towards proof of identity and proof of address (either permanent or current )
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