The Karnataka Bhagyalakshmi Scheme, launched in 2006-07, aims to help Below Poverty Line (BPL) families by providing financial support for their girl children. This scheme encourages families to welcome and support the birth of girl children by offering financial benefits and promoting their education.
The Bhagyalakshmi Scheme is managed by the Department of Women and Child Development. Under this scheme, the government deposits ₹3,000 every year for 15 years into a post office account in the girl child’s name. To learn more about eligibility, required documents, and benefits, please continue reading below.
Bhagyalakshmi Scheme (Highlights)
| Scheme Name | Bhagyalakshmi Scheme or Bhagyalakshmi Sukanya Samruddhi Scheme |
| Initiated By | Women and Child Development Department, Government Of Karnataka |
| Initiated On | 2006-07 |
| Beneficiaries | Girl children in BPL families |
| Maximum Beneficiaries Per Family | Two girls |
| Implemented Through | Sukanya Samruddhi Account (since 2021) |
| Application Mode | Offline |
| Last Date | There is NO last date |
Eligibility Criteria
- The girl child must belong to a BPL family in Karnataka, and the family must have a valid BPL ration card.
- Registration for the Bhagyalakshmi Scheme should be completed within two years of the child’s birth with a valid birth certificate.
- Only two girl children per family are eligible for this scheme.
- The girl must complete the 8th standard and remain unmarried until age 18 to claim maturity benefits.
- The girl child must not be engaged in child labor.
Documents Required
The following documents are required for registration under the Bhagyalakshmi Scheme:
- Child’s Birth Certificate
- BPL Ration Card
- Parent’s Aadhaar Card
Bhagyalakshmi Scheme Benefits (Since 2021)
- ₹3,000 is deposited by the Government of Karnataka each year for 15 years into a Sukanya Samruddhi Account created at the post office during registration for the Bhagyalakshmi Scheme.
- This amount grows over time, and by the time the girl turns 21 years, you will receive a maturity amount of around ₹1,27,000 depending on the current interest rates.
Important Changes in Benefits (Since 2021):
1} When the scheme first started in 2006-07, it partnered with LIC to offer savings bonds and educational scholarships. From 2021 onward, the scheme’s benefits changed. Now, instead of savings bonds & scholarships, the Karnataka government deposits ₹3,000 every year into a Sukanya Samruddhi Account for each eligible girl child for 15 years.
2} For beneficiaries enrolled under the modified scheme (from 2021 onward), the parental death insurance coverage facility will not be available.
Bhagyalakshmi Scheme Maturity Period
The maturity period for the Bhagyalakshmi Scheme is 21 years from the date of registration into the scheme. For the first 15 years, the Government of Karnataka will make deposits into the account, and the remaining 6 years is the lock-in period. However, after the girl completes 18 years, up to 50% of the amount in the account at the end of the financial year preceding the year of withdrawal can be used for higher education.
How to Apply for the Bhagyalakshmi Scheme 2024?
- STEP 1: Visit your nearby Anganwadi center or Taluk Women and Child Development Department office to apply for the scheme.
- (Click here to find your nearby Taluk Women and Child Development Department office.)
- STEP 2: Submit the required documents such as the child’s birth certificate, BPL ration card, and parent’s Aadhaar card.
- STEP 3: The submitted documents will be verified by the concerned authorities.
- STEP 4: After verification, The account will be opened at your nearby post office, where the annual ₹3,000 deposit will be made by the government.
- STEP 5: a passbook for the Bhagyalakshmi Sukanya Samruddhi Scheme will be issued to you.
Important Instructions
- If the Bhagyalakshmi scheme passbook is lost, a request can be made through the Child Development Scheme Officer by paying ₹50 to issue a new passbook.
- The parents of the girl child can have the passbook entry updated at any nearest post office regarding the payment of deposits by the government.
- Keep the passbook safe and secure until maturity.
- Only one Bhagyalakshmi Scheme-Sukanya Samruddhi Account should be held in the name of one child.
Contact Details
For any queries or more information about the Bhagyalakshmi Scheme, contact your nearest Department of Women and Child Development Office.
For more updates on Karnataka and central government schemes, scholarships, and more, visit www.connectkarnataka.in regularly.
FAQ’s
Are the Sukanya Samriddhi Scheme and the Bhagyalakshmi Sukanya Samriddhi Scheme the same?
No, the Sukanya Samriddhi Scheme and the Bhagyalakshmi Sukanya Samriddhi Scheme are not the same. The Sukanya Samriddhi Scheme is a central government scheme where the girl’s parents make the investments, whereas the Bhagyalakshmi Sukanya Samriddhi Scheme is a Karnataka government scheme where the government itself makes the investment on behalf of the girl’s parents.
How to claim the Bhagyalakshmi Sukanya Samriddhi Scheme amount after the maturity period?
You can claim the Bhagyalakshmi Sukanya Samriddhi Scheme amount at the post office where your account is held or maintained.