|Mode Of Deposit
||The deposit in account can be made in cash or through cheque/ demand draft. Where deposit is made by cheque or demand draft, the date of encashment of the cheque or demand draft shall be the date of credit to the account.
|Interest on deposits
- Interest at the rate, to be notified by the Government, compounded yearly shall be credited to the account till the account completes 14 years.
- At present Rate of Interest is 8.50%* per annum.(*- subject to change as per Govt. notification)
|Operation of account
- The account shall be opened and operated by the natural or legal guardian of a girl child till the girl child in whose name the account has been opened, attains the age of 10 years.
- On attaining age of 10 years, the account holder i.e. the girl child may herself operate the account, however, deposit in the account may be made by the guardian or any other person or authority.
- On opening an account, the depositor shall be given a pass book bearing the date of birth of girl child, date of opening of account, account number, name and address of the account holder and the amount deposited.
- The pass book shall be presented to the Bank, at the time of depositing money in the account and receiving payment of interest and also at the time of final closure of the account on maturity.
|Transfer of account
||The account may be transferred anywhere in India, if the girl child in whose name the account stands, shifts to a place other than the city or locality where the account stands.However, the account shall be transferred from authorized branch to another authorized branch for conducting Govt. Business.