The Department of Posts in Madurai launched ‘Selva Magal Semippu’ scheme exclusively for girl children at Gandhi Nagar Post Office here on Monday.
Speaking at the launch, Collector L. Subramanian said that parents or guardians could open accounts for their girl children who were born after December 2, 2003 and deposit up to Rs. 1.5 lakh per year. “The scheme has an interest rate of 9.1 per cent and allows customers to pay in multiples of Rs. 100. The minimum deposit for opening the account is Rs. 1,000,” he said.
Mr. Subramanian said while the account would be closed only after the account holder turned 21 years of age, partial withdrawal of the amount for marriage and higher education was allowed. The Collector distributed savings books to the first five account holders. J. Charukesi, Postmaster General of Southern Region –Madurai, was also present.
