Sukanya Samriddhi Yojana: Know that under Sukanya Samriddhi Yojana you can save for your daughter’s education and marriage. For this you can start with ₹ 250 every month. It gives 8.2% interest and tax exemption.
If you are the parents of a daughter, then this news is especially for you. The government’s Sukanya Samriddhi Yojana (SSY) is becoming the best way to secure your daughter’s future. The aim of this scheme is to make important expenses like education and marriage of daughters easier, that too with tax exemption and good interest rate.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a small savings scheme, which was started by the Government of India under the ‘Beti Bachao, Beti Padhao’ campaign. Under this scheme, if your daughter is less than 10 years old, then you can open an account in her name in a post office or authorized bank.
Special features of the scheme
- Interest rate: Currently, this scheme is getting 8.2% annual interest, which is much more than fixed deposits and other savings schemes.
- Minimum investment: An account can be started with just ₹ 250 in a year.
- Maximum investment: A maximum of ₹ 1.5 lakh can be deposited in a financial year.
- Investment period: Money has to be deposited in the account for 15 years, but maturity is in 21 years.
- Tax exemption: By investing in this scheme, you get tax exemption under 80C and the money received on maturity is also completely tax free.
How and where to open an account?
You can open a Sukanya Samriddhi account in post office, government banks like SBI, PNB, Bank of Baroda and some private banks. The necessary documents will include daughter’s birth certificate, parents’ identity and address proof.
How will it help in studies and marriage?
When the daughter turns 18, you can make partial withdrawal from this account for her studies. The remaining money matures when the daughter turns 21, which can be used for her marriage or further studies.
Why is this scheme important?
Even today in India, there is financial concern about the education and marriage of daughters. Sukanya Samriddhi Yojana is not only a safe investment, but it is also a symbol of love and responsibility that every parent wants to show for their daughter.
