After opening an account in this scheme for daughters, you can invest at least Rs 250. Apart from this, you can invest up to Rs 1,50,000 more every year in this. This account can be opened for a maximum of two daughters below the age of 10 years.
Sukanya Samriddhi Yojana was started by the central government with the aim of securing the future of daughters. Now the account holders are given income tax exemption on the money deposited under this scheme from the banks. A similar offer has been made by the country’s leading government bank Punjab National Bank (PNB). It has been told by PNB that anyone can open this account in their nearest branch. Know how you can take advantage of this scheme from PNB.
What is the minimum deposit to be made?
After opening an account in this scheme for daughters, you can invest at least Rs 250. Apart from this, you can invest up to Rs 1,50,000 more every year in this. This account can be opened for a maximum of two daughters below the age of 10 years. You also get the benefit of tax exemption on investment in it under section 80C of the Income Tax Act.
How much interest
At present, the annual interest rate on Sukanya Samriddhi Yojana is 7.6 percent. The central government revises the interest rate on all small savings schemes every three months. It also includes SSY. Let us tell you that this is one of those small savings schemes, which are currently getting the highest interest.
You can open this account in any branch of Punjab National Bank. You also get the facility of SSY in every branch of the post office or commercial banks.
If a parent or guardian saves even Rs 100 per day for their daughter, then they can get a good amount on the maturity of this scheme. For every Rs 100 invested, it means that they will save Rs 3,000 every month i.e. Rs 36,000 annually. Thus, if seen at the current rate of interest of 7.4 percent, then after 14 years on maturity, this amount will be Rs 15,22,221 including the principal amount.
Which documents will be required?
To open an account under Sukanya Samriddhi Yojana in any commercial bank branch or post office including PNB, you will have to submit a form as well as the birth certificate of your daughter. Apart from this, the identity card and permanent address proof of the parent or guardian of the child should be there.
The identity card should be PAN Card, Ration Card, Aadhar Card, Driving License or Passport etc. At the same time, as proof of permanent address, electricity bill, telephone bill, water bill, residence certificate etc. will work.
You also have to note that after opening the account under Sukanya Samriddhi Yojana, it is mandatory to deposit at least Rs 250 every year. Failure to do so will result in the closure of the account and the minimum amount required for that year along with a penalty of Rs 50 per annum. Only then can this account be revived.
There is a small savings scheme from the central government for daughters so that you can lay the foundation for their better future.
This scheme will mature after 21 years from the date of account opening. You can also save tax by investing in this scheme. The money received from this scheme is tax free. That is, no tax will be levied on the interest earned on the deposit.