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Post Office Sukanya Samriddhi Yojana is a Government-backed savings scheme for the girl child. Get to know its features, benefits and how to open post office SSY account here at Groww.in.
Learn about the various savings schemes offered by India Post, such as SB, RD, MIS, PPF, NSC and more. Find out the eligibility, interest rates, features, benefits and rules of each scheme.
With the grace, Girl child who is born between 2.12.2003 & 1.12.2004 can open account up to 1.12.2015. Account can be closed after completion of 21 years. If account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.
This scheme enables guardians to open a savings account for their girl child with an authorised commercial bank or India Post branch. SSY accounts offer an 8.2% rate of interest. A Sukanya Samriddhi Yojana calculator can help you determine the returns you receive as per the invested amount and tenure.
- Guardians can open an account on behalf of their girl child anytime between when she is born and before she reaches the age of 10.
- Only one SSY account is permitted for a girl child. The number of accounts guardians can create is restricted to two for each of their girl childre...
- Individuals can open an account with as low as Rs. 250. They also have to invest a minimum of Rs. 250 to keep the account active.
- An SSY account is rendered inactive if you don’t make any deposits. However, you can revive your account by paying a penalty charge of Rs. 50.
- The maximum amount that you can deposit per year in a Sukanya Samriddhi Yojana account is Rs. 1.5 Lakh.
- The maturity period of an SSY account is 21 years. However, you only have to make deposits for 14 years. The deposited corpus will earn interest be...
- Yes. SSY accounts provide income tax benefit of up to Rs. 1.5 Lakh under Section 80C.
- Yes. An account holder (the girl) will be able to withdraw from her account once she reaches 18 years of age. The account holder can only withdraw...
- Yes. A Sukanya Samriddhi Yojana account can be closed in the event of the accountholder’s death or for the treatment of life-threatening diseases,...
- High Interest Rate- SSY offers a higher fixed rate of return (currently 8.2% per annum for Q4 FY 2023-24) as compared to other government-backed tax saving schemes such as PPF.
- Guaranteed Returns- Since SSY is a government-backed scheme, it provides guaranteed returns.
- Tax Benefit- SSY provides tax deduction benefits under Section 80C up to Rs. 1.5 Lakh annually.
- Flexible Investment- One can make a minimum deposit of Rs. 250 in a year and a maximum deposit of Rs. 1.5 Lakh in a year. This ensures people with different financial standing can invest in the SSY scheme.
Sep 28, 2021 · Sukanya Samriddhi, a popular Post Office (PO) scheme is offered to provide a secure future to your girl child, as the name suggests. A parent should take up this scheme under his/her girl...
The Sukanya Samriddhi Yojana is a government savings scheme created with the intention to benefit girl child under the initiative called “Beti Bachao – Beti Padhao”. The parent or guardian of the girl child who is 10 years of age or younger can open an account under this scheme.
