The account can be opened under Sukanya Samriddhi Yojana with a minimum of Rs 250. A maximum of Rs 1.5 lakh can be deposited in this during a financial year.
Along with securing the future of the daughter, if you want to get better returns then Sukanya Samriddhi Yojana (SSY) launched by the Modi government can be a better option. In this scheme of the central government, the beneficiary can get more than three times the return. Not only this, you also get the benefit of tax exemption by investing in this scheme.
The account can be opened under Sukanya Samriddhi Yojana with a minimum of Rs 250. The maximum amount that can be deposited in a financial year is Rs 1.5 lakh. If you deposit Rs 1.5 lakh every year, then after 21 years you will get Rs 68 lakh on maturity.
Under Sukanya Samriddhi Yojana, any person can open an account in the name of his daughter. Under this, a person can open an account of two daughters and for opening more accounts than this, an affidavit is required. Under this scheme, an account can be opened in the name of a daughter up to the age of 10 years.
Under Sukanya Samriddhi Yojana, the applicant can open an account in the name of the daughter in any bank or post office. To open an account, the applicant has to submit the birth certificate of his daughter along with the form to the post office or bank. Apart from this, the identity card of the child and parents (PAN card, ration card, driving license, passport) and proof of address of the place where they are residing (passport, ration card, electricity bill, telephone bill, water bill) must be submitted. Will have to do
The money deposited under the Sukanya Samriddhi Yojana is returned when the girl child turns 21. That is, you can withdraw money after 21 years. However, if the daughter gets married after the age of 18, then the money can be withdrawn. Apart from this, after the age of 18, you can withdraw up to 50 percent money for the education of the daughter.
Under this scheme, you can deposit money for 15 years. If you open an account for your 9 year old daughter, then you can deposit money in it till the age of 24 and withdraw the entire amount when she turns 30. You can also get tax exemption under Sukanya Samriddhi Yojana. This scheme is exempted from income tax under Section 80C of the Investment Act.
The money deposited under Sukanya Samriddhi Yojana (SSY) currently gives a return of 7.6 per cent. The interest received under this scheme is reviewed by the government every quarter, so it changes after every three months.
The money under this scheme can be withdrawn only after 21 years. In such a situation, if you deposit 1.5 lakh rupees annually for 14 years, then the total deposit amount will be 21 lakh rupees. On this, according to the compound interest available at the rate of 7.6 percent for 14 years, the total amount will be Rs 46 lakh.
If you do not deposit money continuously in the account opened under the Sukanya Samriddhi Yojana, then the amount deposited in it will get the amount equal to the interest received on the savings account of the post office. If you have not been able to deposit the minimum amount in any year, then you can make it regular again by paying a fine of Rs 50.
Sukanya Samriddhi Yojana account can be transferred anywhere in India, but for this it is necessary that the girl child in whose name the account is located is moving from one place to another and her residence address is about to change. For this the parent has to show proof.
