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Selvamagal Semippu Thittam: Girls above the age of 11 can also join!
Posted on: 08/Apr/2015 5:30:54 PM
The Postal Department has announced that girls above 11 years of age can also join the ‘Selvamagal Semippu Thittam’.
The Postal Department introduced this scheme operative in the Post Offices to ensure the access of higher education for girls on 26th January this year.
In the initial format, girls under 10 years of age can join the saving scheme. A maximum of 2 girls from a family can join the scheme. While starting the scheme, one has to pay Rs. 1000/-. After this, one can deposit any amount whenever possible. However, a minimum of Rs. 1000/- has to be deposited every year.
Once the payments are made till the age of 21, the matured amount will be returned to the scheme holder along with interest.
Selvamagal Semippu Thittam has won huge popularity among the public.
Tamil Nadu Headquarters Postal circle officials informed that 6,11,835 girls have joined the scheme till 31st March.
A maximum of 2.23 lakh people have joined in the Chennai Region. In Trichy, it is 1.72 Lakhs. In Madurai, it is 1.22 Lakhs. In Coimbatore, it is 93000.
A revenue of Rs. 84.55 Crores has been earned.
The department was able to appreciate that it was rather sad for the parents of girls above the age of 10 not being able to join this scheme. Hence, arrangements and necessary amendments have been made to include the girls above 11 years of age also under this scheme.
As per this amendment, girls born after 3rd December, 2003 can all join this scheme. However, this concession will be valid only till 3rd December.
There is a provision to withdraw 50% of the amount deposited at the age of 18 and NOT before that.
Even if the account holder had not deposited any money, the deposited money can be withdrawn only after 21 years.
However, a penalty of Rs. 50/- for each missed year will have to be paid.
Age-proof, residence-proof and ID cards are required to join this scheme.
For the benefit of the people who cannot afford to pay Rs. 1000/- for joining the scheme, Post Office has provided an alternative. These people can open a Post Office savings account with Rs. 50/- and continue to deposit in this account. As soon as Rs. 1000/- is accrued, they can join ‘Selvamagal Semippu Thittam’.
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