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#2
5th May 2016, 04:38 PM
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| Re: Bank Of Baroda Sukanya Samriddhi
Bank of Baroda is an Indian state-owned banking and financial services company headquartered in Vadodara in Gujarat, India. About Bank Of Baroda Sukanya Samriddhi: Bank of Baroda is offering the Sukanya Samriddhi Yojana to its customers as a possible investment. This scheme aims are helping parents invest money in an account where they get a good rate of interest and build a sizable amount of savings that can then be used to fund the needs of their daughters. Features of Sukanya Samriddhi scheme Account opening: Bank of Baroda Sukanya Samriddhi Yojana account can be opened only for a daughter who is 10 years old or younger. Multiple accounts can be opened in case the daughters are twins. Deposits: The minimum and maximum deposits for this account are pegged at Rs. 1,000 to Rs. 1.5 lakhs per year. A minimum deposit of Rs. 1,000 has to be made every year. Deposits paying term: Deposits need to be made only for the first 14 years from the date on which the account is opened. Documents required: The supporting documents that need to be submitted will have to include the birth certificate of the child. Interest rate: The current interest rate offered by the government is 9.2% per annum. Withdrawal: Once the girl is 18 years old a partial withdrawal of up to 50% of the account balance can be withdrawn for expenses of education or marriage. Bank of Baroda Sukanya Samriddhi Yojana account will mature once the girl attains the age of 21 years. Premature closure: The account cannot be closed prematurely except under two circumstances: If the account holder passes away and If the account holder can prove to the central government that continued contributions to the account would not be affordable. Contact: Corporate Centre Bank Of Baroda Baroda Corporate Centre, Plot No - C-26, G - Block, Bandra - Kurla Complex Bandra (East), Mumbai-400051 Phone  022) 6698 5000- 04Fax 022) 2652 3500
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