The Sukanya Samriddhi Yojana (SSY), also known as girl child prosperity scheme is launched by Prime Minister Narendra Modi. SSY account is to ensure a bright future for girl children in India. This yojana is to facilitate them proper education and carefree marriage expenses. The scheme has well been accepted by the masses in wake of the financial security and independence it would provide to the girl child as well as their parents and guardians.
Sukanya Samriddhi Account Yojana offers a small deposit investment for the girl children as an initiative under ‘Beti Bachao Beti Padhao’ campaign. One of the key benefits of the scheme is that it is quite affordable and offers one of the highest rates of interest. Currently it is set as 9.2% per year for Fy 2015-16 and also SSAY is under the Income tax Act 1961, section 80C.
Key Pointers :
- Till a girl attains an age of 10 years, the Sukanya Samriddhi account yojana can be opened under her name
- Only one account under this scheme is permissible for every girl child
- Walk into any post office or authorized banks to open the account
- To open an account under SSAY, Birth Certificate of the girl child would be required to submit
- The opening amount for the account is Rs 1,000. Thereafter a multiple of Rs 100 can be deposited to the account with a minimum of Rs 1,000 per year
- The maximum limit for deposits in the account is Rs 1,50,000 per year
- You have to pay in this scheme for 14 years. Suppose you have opened this account when the age of your girl child was X years then you have to pay in this scheme till your girl child age is X +14 years.
- The maturity duration of the account is 21 years from the date of opening the account.
- Sukanya Samriddhi Account is transferrable to anywhere in India from a Post office or bank to others
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