Sukanya Samriddhi Yojana: The central government is running many schemes for the better future of daughters. Sukanya Samriddhi Yojana is one of these schemes. Under the Sukanya Samriddhi Yojana (SSY), the government gives a bumper interest of 8.2 percent on the account opened in the name of daughters.
Investment can be started with an investment of just Rs 250
Apart from all the banks in the country, SSY account can be easily opened in post offices as well. Under this government scheme, you can deposit a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year in the name of your daughter.
SSY account can be opened only for daughters below 10 years of age
Under the scheme, money can be deposited in the account only for the next 15 years from the date of opening the account. Under Sukanya Samriddhi Yojana, accounts are opened only for girls below 10 years of age. This account matures after 21 years from the date of opening the account. Apart from this, if the daughter has turned 18 and is getting married, then in such a situation also the account can be closed and all the money can be withdrawn.
An account can be opened in the name of maximum 2 daughters in a family
Sukanya Samriddhi Yojana accounts can be opened in the name of a maximum of 2 daughters in a family. However, if a family has twin daughters, then in such a situation, SSY accounts can be opened in the name of more than 2 daughters.
Tax exemption is also available under section 80C
Under this scheme, the government changes the interest rates every 3 months as per the need. Sukanya Samriddhi Yojana has another big benefit. In this scheme, a tax exemption of up to Rs 1.50 lakh can be claimed under section 80C of Income Tax.
How will a daughter become a millionaire at the age of 21?
If your daughter is currently 1 year old and you deposit just Rs 25,000 every year (total Rs 3.75 lakh in 15 years) in this scheme, then after 21 years i.e. in the year 2045, your daughter will get more than Rs 11.54 lakh.
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