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Aug 26, 2024 · Download or preview the PDF form for opening a Sukanya Samriddhi Yojana account, a government scheme for girls' education and future. Learn about the scheme benefits, interest rate, tenure, and tax exemption.
- 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...
You can open a Sukanya Samriddhi Yojana Account in any authorised bank branch or a post office branch. You can also set it up online with the help of your net banking facility. Documents you need to open Sukanya Samriddhi Yojana Account are: SSY Account opening form; Beneficiary’s birth certificate
May 4, 2024 · Learn about the features, benefits and eligibility of Sukanya Samriddhi Yojana, a government scheme for the welfare of girl child. Download the revised opening form and check the latest interest rate and tax exemptions.
SALIENT FEATURES OF SUKANYA SAMRIDDHI ACCOUNT Account can be opened in the name of a girl child till she attains the age of 10 years. Only one account can be opened in the name of a girl child. Account can be opened in Post offices and notified branches of commercial banks.
Jun 23, 2024 · Application Form (Form-1): Obtain this form from the bank or post office and fill it out carefully with your daughter’s details and your own information as the guardian. Birth Certificate: A copy of your daughter’s birth certificate is required to prove her age and eligibility.
People also ask
What is Sukanya Samriddhi Yojana (SSY)?
Where can I open a Sukanya Samriddhi Yojana account for my daughter?
How many accounts can be opened under Sukanya Samriddhi Yojana?
What are the eligibility requirements for Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme as part of the “Beti Bachao, Beti Padhao Yojana” for the benefit of the girl child. Parents can open up to two such accounts for girls (they cannot open a third/fourth account, etc. if they have more than two girls).
