The Sukanya Samriddhi Yojana (SSY) was launched by the Government of India in 2015 under the Beti Bachao Beti Padhao initiative. The govt scheme provides financial support to parents for their daughter’s education and marriage. With tax benefits, attractive interest rates, and flexible deposit options, Sukanya Samriddhi Yojana aims to secure a prosperous future for girls in India.
Key Features Of Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana offers several attractive features, making it a popular choice for parents. Some key features include:
- Eligibility: A parent or legal guardian can open a Sukanya Samriddhi Yojana account for a daughter under 10 years of age. A maximum of two accounts can be opened if the family has two daughters.
- Deposit Range: The minimum deposit is ₹250, and the maximum deposit per financial year is ₹1.5 lakhs.
- Interest Rate: The scheme offers a competitive interest rate of 8.2%, subject to quarterly revisions.
- Tenure: The account matures after 21 years or when the daughter marries after turning 18.
- Tax Benefits: Contributions to the Sukanya Samriddhi Yojana scheme are eligible for tax deductions under Section 80C, and the interest earned is tax-free.
Why Should You Invest In Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana provides financial security for daughters. This government-backed scheme encourages parents to save for their daughters’ education and marriage, reducing the financial burden on families.
Benefits Of The Sukanya Samriddhi Yojana
- Higher Rate of Interest: The scheme offers a higher interest rate compared to other small savings schemes, providing better returns for investors.
- Partial Withdrawals: After turning 18, the daughter can withdraw up to 50% of the account balance for higher education, ensuring funds are available for future educational needs.
- Tax-free Income: Contributions to Sukanya Samriddhi Yojana are eligible for tax benefits, and the interest earned is tax-free, making it an attractive investment for parents.
To know about the detail benefit of the Sukanya Samruddhi Scheme read this article on Jaagruk Bharat.
How To Open A Sukanya Samriddhi Yojana Account?
Opening a Sukanya Samriddhi Yojana account is straightforward and can be done at any participating bank or post office. Here’s a brief outline of the procedure:
- Visit an authorized bank or post office.
- Complete the Sukanya Samriddhi Yojana account form and attach the required documents, including the daughter’s birth certificate, ID proof, and address proof.
- Make a minimum deposit of ₹250 to open the account. Further deposits can be made via cash, cheque, or online banking.
After opening the account, you will receive a passbook with details of deposits and interest earned.
Conclusion
The Sukanya Samriddhi Yojana is an excellent scheme for securing the financial future of daughters in India. It offers long-term savings benefits, attractive interest rates, and tax advantages, making it a great option for parents who want to save for their daughter’s education and marriage. By investing in Sukanya Samriddhi Yojana, parents can help their daughters pursue their ambitions without the burden of financial constraints.
For more information on how to apply for the Sukanya Samriddhi Yojana, visit Jaagruk Bharat and stay updated with the latest government schemes for the welfare of girl children in India.