Dept. of Posts registers 14.96% growth in deposits under Selvamagal Semippu scheme in 2024-25 in Chennai region
The Hindu
Dept. of Posts registers 14.96% growth in deposits under Selvamagal Semippu scheme in 2024-25 in Chennai region
The Department of Posts has opened nearly 74,332 accounts under the Selvamagal Semippu scheme in the Chennai city region in 2024-25. The department has received a deposit of ₹1,798 crore — which is 14.96% more than the previous fiscal — under the scheme.
A press release said the deposits under the savings scheme for girl children has grown compared to previous year’s deposits worth ₹1,564 crore. Since the inception of the scheme in 2015, the Chennai city region has opened more than 10.44 lakh Selvamagal Semippu scheme accounts with deposits worth ₹9,234 crore till March 2025.
The Chennai city postal region includes Chennai city divisions, Arakkonam, Chengalpattu, Kanchipuram, Vellore, Tiruvannamalai, and Pondicherry. The scheme for girl children offers an interest rate of 8.2% per year.
An account under the scheme can be opened for girl children aged below 10 years by a parent or guardian with a minimum of ₹250 and maximum of ₹1.5 lakh every year. The account allows 50% of withdrawal at the age of 18 years or after the girl child completes class 10 for higher education. The account would reach maturity after 21 years from the date of opening of the account, said a press release.
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