Among the schemes of the post office, Sukanya Samriddhi Yojana (SSY) is specially for daughters.
This is a special savings scheme for the girl child, in which parents invest for the future of their daughters. The government-backed scheme currently offers an interest rate of 7.6%. The maturity period of the scheme is 21 years and investment period is 15 years. The normal age limit for opening an SSY account is 10 years from the date of birth of the daughter. Also, it is necessary to be a resident of India to open an account. Once the daughter turns 18, she can take over the account. By the way, SSY account can be opened for maximum 2 daughters only. But we will tell you the rules here, under which the future of three daughters can be secured with this scheme. But before that know the important rules of SSY.Also Read: New Challan Rules: Central government made new challan rules, issued these guidelines to the state government
How much investment required
According to the rules of the scheme, if you do not deposit even the minimum amount i.e. 250 rupees in a financial year in Sukanya Samriddhi Yojana account, then it will be considered as a default account. But you can restart the account. Even if you do not re-open the account, you will continue to get interest on the deposited amount till maturity.
What is the maximum amount one can invest
A maximum of Rs 1.5 lakh can be invested in this scheme in a financial year. If the minimum amount is not deposited in any financial year, a penalty of Rs 50 will be levied. The account will mature after the daughter completes 21 years of age from the date of account opening. Even before this, the account can mature in case of daughter’s marriage. But the age of the girl should be 18 years and after marriage the account will not be operational.Also Read: EPFO: Transfer PF money to another bank account sitting at home, know the easy way quickly
Tax benefits are also available
Apart from the high interest rate, tax benefit is also one of the main benefits of this scheme. Deposits in SSY are classified as EEE (Exempt, Exempt, Exempt). This means that the investment amount, the interest earned and the maturity amount are tax exempt. You will get tax exemption up to Rs 1.5 lakh per annum on the principal amount invested under Section 80C of the Income Tax Act, 1961.
3 daughters future secure
Under this scheme, the account of maximum two daughters can be opened in a family. If there are twins/triplets in the first birth, a new account cannot be opened on the second birth of the girl child. However, in the case of twin daughters being born on the second birth or the first birth of three daughters together, the facility of opening a third account is available.Also Read: LIC Policy: Deposit a premium of Rs 43 daily, earning Rs 3333 per month
Transfer facility available
Sukanya Samriddhi Yojana account can be easily transferred from one bank or post office to another bank or post office branch. For this, you have to fill the application form and submit it along with the required documents to the respective post office or bank.
