Sukanya Samriddhi Yojana [ssy]: benefits tax discount interest rate eligibility other details

Sukanya Samriddhi Yojana [ssy]: benefits tax discount interest rate eligibility other details
Sukanya Samriddhi Yojana [ssy]: benefits tax discount interest rate eligibility other details

Sukanya Samriddhi Yojana: Under Sukanya Samriddhi Yojana, the government gives relief to the parents of daughters in their education and marriage expenses. Where you get a good amount by investing a small amount.

Sukanya Samriddhi Yojana: The government had started a unique scheme for the bright future of the daughters of the country, in which it helps to meet the expenses of her daughter from education to marriage. The government had started the Sukanya Samridhi Yojana under the Beti Bachao-Beti Padhao campaign. On depositing money in this, you currently get an interest of up to 7.6 percent.

Get tax exemption

You also get tax exemption under section 80-C of the Income Tax Act on the investment made in Sukanya Samriddhi Yojana. In this, you can get a rebate on investment of Rs 1.5 lakh every year. Along with this, the returns received in this scheme are also tax free. If you invest in Sukanya scheme every financial year i.e. till March 31, you also get the benefit of tax exemption in the financial year.

Account will be opened for a daughter below the age of ten years

To take advantage of Sukanya Samriddhi Yojana, you can open an account of your daughter who is younger than 10 years of age. In this account can be opened for maximum 2 daughters. If parents want, they can open separate accounts for both the daughters.

How much can you invest

Under Sukanya Samriddhi Yojana, parents can open an account for their daughters for Rs 250. After this, you can invest Rs 250 to Rs 1.5 lakh a year in multiple amounts of Rs 100. This amount can be deposited in one go or in installments.

Where to open account

For Sukanya Samriddhi Yojana, you can go to any bank or post office and open an account in the name of your daughter. It can be continued till 21 years after the account is opened or till the daughter gets married after 18 years. When the daughter turns 18, 50 percent of the amount can be withdrawn from this account for higher education.

What are the documents required

Daughter’s birth certificate is the most important document to open an account under Sukanya Samriddhi Yojana. Without this the account is not opened. Apart from this, the identity proof of the parents is also necessary.

Till when can I deposit money?

Within 15 years of opening Sukanya Samriddhi Account, you can get money in it. After this, you will continue to get interest on it for 6 more years (up to a total of 21 years). For example, if your daughter is 7 years old, then you keep adding money to the account till she is 22 years old and will continue to get interest on it till she is 28 years old.

How much money will be available in this scheme

If a parent saves even Rs 100 a day for their daughter, then they can get good money on the maturity of this scheme. If even Rs 100 is put in savings every day, it means that he will save Rs 3,000 every month i.e. Rs 36,000 annually. Thus, if seen at the current rate of 7.6%, then after 14 years on maturity, this amount will be Rs 15,22,221 including principal.


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