If you have a small girl child in your house, then you can invest in the Central Government’s Sukanya Samriddhi Yojana to get lump sum help at the time of her education and marriage. Sukanya Samriddhi Yojana of the Central Government is a good investment scheme for a girl child below 10 years of age to save for higher education and marriage.
Investing money in this great investment option also helps you in saving income tax. For those who want to stay away from the risk of stock market and are worried about the falling interest rates in fixed deposits (FD), Sukanya Samriddhi Yojana can prove to be a great step.
Money can be deposited in Sukanya Samriddhi Yojana account through cash, cheque, demand draft or any other instrument accepted by the bank. For this, it is necessary to write the name of the depositor and the name of the account holder. Money can also be transferred to Sukanya Samriddhi Yojana account through electronic transfer mode, if core banking system is available in that post office or bank. Let us know how money can be transferred online to this account..
Through post payment bank
Money can also be transferred to Sukanya Samriddhi Yojana account through electronic transfer mode, if core banking system is available in that post office or bank. You can transfer money from post payment bank account to this account. If the amount is paid into the Sukanya Samriddhi Yojana account through check or draft, interest will be paid on it from the time the amount is cleared in the account, whereas in case of e-transfer, it will be calculated from the day of deposit.
Through IPPB App
For this you will have to link your savings account with IPPB account. Now you have to go to DOP Product. Here Sukanya Samriddhi Yojana account has to be selected. Now you have to enter SSY account number and DOP customer ID. Now select your installment period and amount. After payment is successful, IPPB will inform you through notification.
What is Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana (SSY) is a small savings scheme of the Central Government for daughters which has been launched under the Beti Bachao-Beti Padhao scheme. Sukanya is the scheme with the best interest rate among small savings schemes. Currently, interest is being given in SSY at the rate of 7.6% which is with income tax exemption. Earlier, it also got tax free interest up to 9.2 percent. Sukanya Samriddhi Yojana account, which can be opened with very small amount, has been started keeping in mind those families who want to deposit money for their child’s marriage or higher education through small savings.
How to open an account
Under Sukanya Samriddhi Yojana, an account can be opened after the birth of a girl child before the age of 10 years with a minimum deposit of Rs 250. A maximum of Rs 1.5 lakh can be deposited under Sukanya Samriddhi Yojana in the current financial year. Under Sukanya Samriddhi Yojana, an account can be opened in an authorized branch of any post office or commercial branch. After opening the Sukanya Samriddhi Yojana account, it can be operated till the girl child turns 21 or gets married after 18 years.
How many accounts can be opened
Up to 50 percent of the amount can be withdrawn from Sukanya Samriddhi Yojana account after the age of 18 years in case of expenses for higher education of the child. Rules for opening Sukanya Samriddhi Yojana account Sukanya Samriddhi Yojana account can be opened in the name of the girl child by the parents or legal guardian of the girl child before she turns 10 years of age. According to this rule, only one account can be opened for a girl child and money can be deposited in it. Two accounts cannot be opened for a girl child.
Documents required to open an account
At the time of opening Sukanya Samriddhi Yojana account, it is necessary to submit the birth certificate of the girl child to the post office or bank. Along with this, it is also necessary to provide proof of identity and address of the child and the guardian. Rs 250 is enough to open a Sukanya Samriddhi Yojana account, but later money can be deposited in multiples of Rs 100. At least Rs 250 must be deposited in any one financial year. More than Rs 1.5 lakh cannot be deposited in the SSY account at one time or multiple times in any one financial year.
