The scheme encourages parents to build a fund for the future education of their female child.
The account can be opened at any India Post office or branch of authorized commercial banks.
[5][6] The accounts can be opened at any India Post office or a branch of some authorized commercial banks.
[3] The account can be opened anytime between the birth of a girl child and the time she attains 10 years age by the parent/guardian.
Parents can open a maximum of two accounts for each of their children (exception allowed for twins and triplets).
Karnataka, Tamil Nadu and Andhra Pradesh reported highest number of new accounts.
If the registered girl child dies, parents or legal guardians may be entitled to the amount remaining on the account and accrued interest.
Additionally, parents or legal guardianship representatives must provide the valid documents confirming your account holder’s death, signed by the authorities concerned.
(2) The process of transfer of the account shall be effected electronically if the post office or the Bank concerned, has access to the facility of CBS.