Invest in Sukanya Samriddhi Yojana for bright future of daughter, know details

Sukanya Samriddhi Yojana (SSY) is a small savings scheme of the post office. This scheme is safe and you get good interest on investing in it. Under Sukanya Samriddhi Yojana, only the account of a child up to the age of 10 years can be opened.

The Government of India launched Sukanya Samriddhi Yojana (SSY) under Beti Bachao Beti Padhao. Sukanya Samriddhi Yojana is very helpful for parents who are worried about daughters’ marriage and studies. This scheme was launched in the year 2015. This scheme is only for daughters. The government has given relief to the parents who could not open their daughters’ account in SSY during the lockdown.

Those whose daughter has crossed 10 years of age in lockdown, now they can open an account in Sukanya Samriddhi Yojana in the name of their daughters by 31 July. According to the directive of the Department of Posts, people whose daughters have become 10 years old from 25 March to 30 June 2020, will now be able to open an account under Sukanya Samriddhi Yojana from 31 July 2020.

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This is a small savings scheme of the post office. This scheme is safe and you get good interest on investing in it. In Sukanya Samriddhi Yojana, only the account of a girl up to the age of 10 years can be opened. You can invest at least 250 rupees and a maximum of 1.5 lakh rupees in this year.

At present, the rate of interest in this scheme is 7.6 percent. Every three months, the government fixes the interest rate for this scheme. After the daughter turns 18, you can withdraw up to 50 percent of the amount for education or marriage. This scheme matures after the daughter’s age of 21 years. You can deposit money till your daughter is 24 years old when the account is opened at the age of 9 years.

Income tax exemption can be availed
on investment in Sukanya Samriddhi Yojana. Tax exemption can be availed under Section 80C of Income Tax Act. This scheme gets more interest than PPF. Apart from the post office, you can open an account under this scheme by visiting the authorized branch of the bank. To open an account, the girl’s birth certificate, address proof or address card of the parent will be required. If you do not have an Aadhaar card, you can also open an account through documents like ration card, driving license, electricity bill, passport etc.

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