What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a small savings scheme, which was launched by the Government of India under the ‘Beti Bachao, Beti Padhao’ campaign. Under this scheme, if your daughter is under 10 years of age, then you can open an account in a post office or authorized bank in her name.
Interest Rate: Right now 8.2% annual interest is being received on this scheme, which is more than fixed deposits and other saving schemes.
Minimum investment: Account can be started with only ₹ 250 in a year.
Maximum investment: Maximum ₹ 1.5 lakh can be deposited in a financial year.
Period of investment: Money has to be deposited in the account for 15 years, but maturity takes place 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 eat?
You can also open the Sukanya Samriddhi account in government banks and some private banks like Post Office, SBI, PNB, Bank of Baroda. In the necessary documents, the daughter’s birth certificate, the identity of the parents and the address will be found.
When the daughter turns 18, then you can do partial withdrawal for her studies from this account. The remaining money becomes matured at the age of 21, which can be used in marriage or further studies.
Why is this scheme important?
Even today, there is financial concern about the education and marriage of daughters in India. Sukanya Samriddhi Yojana is not only a safe investment, but it is also a symbol of love and responsibility, which every parent wants to show for his daughter.
