If you want to secure your daughter’s bright future and are planning a big fund, then Sukanya Samriddhi Yojana is the best option for you. In this scheme, you can create a fund of up to ₹ 74 lakh for the daughter by depositing just ₹ 250 or ₹ 500 every month.
This scheme not only ensures a better future for daughters, but also gives you a chance to save tax and earn more interest. This scheme backed by the Government of India is completely safe and beneficial. If you also want to take advantage of this scheme, then definitely read this article till the end. Let’s know the complete details of this scheme.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a special scheme of the Government of India, which has been started only for girl children. The aim of this scheme is to secure the future of the daughter financially, which includes the expenses of their education and marriage.
Under this scheme, you can open an account in the name of your daughter and make monthly or yearly savings. This scheme not only gives you better interest rates but also provides tax benefits.
Benefits of Sukanya Samriddhi Yojana
Under Sukanya Samriddhi Yojana, you get many important benefits. These benefits not only secure your investment, but also make the daughter’s future financially strong.
High interest rate: This scheme offers an interest rate of 8% to 8.5%. And this interest rate is higher than normal savings accounts or other schemes.
Tax exemption: Under this scheme, you can avail tax exemption under Section 80C of the Income Tax Act. And the amount and interest received on maturity of the scheme are tax free.
Security of daughter’s future: Sufficient funds are collected for the daughter’s higher education and marriage.
This scheme is the most reliable to secure the future of daughters.
Big fund in low investment: An account can be started with only ₹ 250 and a large fund can be created by depositing regularly. This scheme is very beneficial for small and middle class families.
Flexibility: After opening the account, you can deposit the amount on a monthly, quarterly, half-yearly or yearly basis. There is a facility to deposit a minimum of ₹250 and a maximum of ₹1.5 lakh per year.
Government guarantee: This scheme is backed by the government, so the investment in it is completely safe and guaranteed.
Pre-maturity benefit: At the time of daughter’s marriage (on completion of 18 years of age) you can withdraw 50% of the amount from the account. This amount is useful for higher education or marriage.
Long term benefit: The account runs till the daughter’s age of 21 years, due to which this scheme gives an opportunity to create a long-term fund.
Documents required to open an account
- The following documents are required to open a Sukanya Samriddhi Yojana account.
- Daughter’s birth certificate: Mandatory for age confirmation.
- Parent/Guardian’s identity card: Such as Aadhaar card, PAN card, voter ID.
- Address proof: Such as Aadhaar card, electricity bill, ration card.
- Passport size photo: Required along with the application form.
- Initial deposit amount: Minimum amount of ₹250.
- Application form: Fill and submit at the bank or post office.
How to open an account in Sukanya Samriddhi Yojana?
- Follow the steps given below to open a Sukanya Samriddhi Yojana account.
- Go to the nearest bank or post office.
- Get the application form and fill in the correct information.
- Attach the required documents.
- Deposit an initial amount of at least ₹250.
- Get the account number after submitting the form and documents.
- Your account will be opened successfully.
