Search results
People also ask
What are the benefits of Sukanya Yojana?
What are the tax benefits provided by Sukanya Samriddhi Yojana?
Is Sukanya Samriddhi Yojana a good investment?
What are the benefits of opening a Sukanya Samriddhi Yojana account?
- Need a small amount of INR 250 for opening a Sukanya Samriddhi Yojana account. You can open an SSY deposit with a minimum deposit of INR 250, which was INR 1,000 before 5th July 2018.
- Helps save for your girl child’s educational expenses. If you are a parent or a guardian of the girl aged less than 10 years, you are eligible to open a SSY Account for no more than two daughters.
- The Triple Tax Benefits you cannot ignore. If the above reasons were not good enough, the scheme offers tax benefits that you just cannot refuse. A. Deposits up to INR 1.5 lakh is eligible for a deduction under Section 80C of Income Tax Act.
- Attractive interest rates. The rate of interest offered on accounts opened between October 1, 2018, and 31 December 2018 is 8.6 per cent, one of the highest being provided on small saving schemes.
- What Is Sukanya Samriddhi Yojana (Ssy)?
- Sukanya Samriddhi Yojana Age Limit and Maturity Period
- Benefits of Sukanya Samriddhi Yojana
- Tax Benefits of Sukanya Samriddhi Yojana
- Sukanya Samriddhi Yojana Interest Rate 2024
- Calculation of Sukanya Samriddhi Yojana Interest
- Sukanya Samriddhi Yojana Eligibility
- How to Open A Sukanya Samriddhi Yojana Account in A Post Office?
- Sukanya Samriddhi Yojana Application Form
- How to Open A Sukanya Samriddhi Yojana Account Through Banks?
In order to majorly address the issue of the declining child sex ratio in our country, the Government of India launched a social campaign on 22 January 2015. The Beti Bachao Beti Padhao (BBBP) campaign sends the message ‘Save girls, educate the girl child’. This is a national initiative jointly run by the Ministry of Women and Child Development, th...
Opening SSY Account
A girl child can only have one SSY account. SSY accounts can be opened at any post office or authorised commercial bank branch. It can be opened till the girl child attains the age of 10 years.
Beneficiary of SSY
Any girl child who is a resident Indian can be a beneficiary under SSY from the time of opening the account till the time of maturity/closure.
Deposits under SSY
The guardian can deposit the amount and operate the account till the girl child attains the age of 18. The SSY account shall be mandatorily operated by the girl child after she attains the age of 18 years. The minimum deposit amount for an SSY account is Rs.250, thereafter in multiples of Rs.50, and the maximum deposit is Rs.1,50,000 in every financial year, up to 15 years. Deposits can be made through cash, cheque, demand draft or online transfer.
Low Minimum Deposit:The minimum deposit required to be made in a SSY account is Rs.250 per financial year. You can make deposits as per your convenience up to Rs.1.5 lakh per fiscal year. The payme...Attractive Interest Rate:SSY accounts enjoy an 8.2% per annum compounded interest rate (for the period 1 July 2024 to 31 September 2024) - one of the highest among small savings schemes.Tax Benefits:You can enjoy full tax deductionon principal invested up to ₹1.5 lakhper year under Section 80C of the Income Tax Act. Both interest and maturity amounts are tax-free.Long Tenure: Secure your daughter's future with a 21-year maturity periodor until her marriage after 18 years (whichever is earlier).In order to encourage investments in SSY, the SSA has also been provided with certain tax benefits: 1. Investments made in the SSY scheme are eligible for deductions underSection 80C, subject to a maximum cap of Rs 1.5 lakh. 2. The interest that accrues against this account which gets compounded annually is also exempt from tax under Section 10 of ...
Interest rates for Sukanya Samriddhi Yojana is 8.2% for July to September 2024. It is determined quarterly. Below is a historical trend of interest rates(%) under Sukanya Samriddhi Yojana.
The interest for the SSY account is calculated on the lowest balance for the calendar month, i.e. between the fifth day of the month and the end of the month. The interest will be credited once, at the end of each financial year. Generally, you can use the below formula to calculate the interest earned on an SSY account: A = P(1+r/n)^nt Here: P = I...
Only parents or legal guardians of a girl child can open an SSY accountThe girl child must be a resident Indian and below the age of 10 at the time of opening the account.Only one account can be opened for a girl child.Only two SSY accounts can be opened by a family, i.e. one for each girl child.You can open a Sukanya Samriddhi Yojana (SSY) account with a participating bank or a Post Office branch. You need to follow the below procedure to open the account: 1. Visit the bank or post office branch where you would like to open the account. 2. Fill up the application form(Form-1) with relevant details and provide supporting documents. 3. Pay ...
Here is how the SSY account opening form looks like: In order to fill out the form, you can follow these steps: 1. Under ‘To The Postmaster/Manager’, mention the Post Office/bank branch and postal address details. 2. Paste the applicant(s) photograph to the right. 3. Next to ‘I/We’, mention the applicant’s name and in the following space, mention S...
You can open a Sukanya Samriddhi Yojana account either with a participating bank or a post office branch. It is more convenient for you to open an SSY account with the bank where you already hold a savings account if it is one of the participating banks. You can visit the respective banks’ websites to download the SSY Account Opening Application Fo...
Sep 13, 2024 · The following are the benefits of investing in Sukanya Samriddhi Yojana: Guaranteed Returns: It is a government-backed scheme that pays a guaranteed investment return. Currently, it offers an annual return of 8% p.a., which is higher than all other government schemes.
May 20, 2024 · Contents. What is Sukanya Samriddhi Yojana? What are the features of the Sukanya Samriddhi Yojana Account? Benefits of Sukanya Samriddhi Yojana Account. What are the tax benefits of Sukanya Samriddhi Yojana? What are the eligibility criteria for tax deduction? How to Open Sukanya Samriddhi Yojana Account Online?
Jun 23, 2024 · Sukanya Samriddhi Yojana: Benefits. The Sukanya Samriddhi Yojana (SSY) makes saving for your daughter’s future an attractive and secure option. The government sets competitive interest rates on deposits, ensuring your money grows steadily.
- 153
May 6, 2024 · Sukanya Samriddhi Yojana offers tax benefits under section 80C, with around 2.73 crore accounts opened since inception, totaling nearly ₹1.19 lakh crore in deposits. Overview Table Of Sukanya Samriddhi Yojana.
The scheme primarily focuses on empowering the girl child and promoting her education, welfare, and financial security. Sukanya Samriddhi Yojana offers attractive interest rates and tax benefits, making it a popular choice for parents and guardians to secure their daughter’s futures.
