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What is Sukanya Samriddhi Yojana (SSY) interest rate 2024?
What is the interest rate of Sukanya Samriddhi Yojana scheme?
Is Sukanya Samriddhi Yojana taxable?
What is Sukanya Samriddhi Yojana (SSY)?
Jul 27, 2024 · 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 deduction on principal invested up to ₹1.5 lakh per year under Section 80C of the Income Tax Act.
Sukanya Samriddhi Yojana (SSY) Calculator - Calculate SSY Online to determine the maturity amount of your SSY investment after 14 years. Get details of Sukanya Samriddhi Scheme, Rules, deposit amount, interest rate and tax benefits here at Groww.in
- 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,...
Jul 22, 2024 · Know about Sukanya Samriddhi Yojana Account & how to open SSY account, SSY Interest Rate, Benefits, Eligibility, Limits for 2024, calculator & Tax Rules.
- No. The facility of loan against SSY account balance is not currently available. You can avail the option of loan against PPF instead.
- Yes. Premature closure of the Sukanya account is allowed in certain cases. This may include compassionate grounds due to terminal illness, the unex...
- The SSY account will have to be closed if the girl child becomes an NRI or loses her Indian citizenship.
Jan 2, 2024 · Sukanya Samriddhi Yojana’s interest rate for the quarter January to March 2024 is 8.2% Most parents wish to build a secure future for their children. The government understands this need for financial safety and, as a helping hand, keeps introducing helpful schemes for the citizens.
- Attractive interest rate of 8%, that is fully exempt from tax under section 80C.
- Minimum Rs. 250 can be invested in one financial year.
- Maximum investment of Rs. 1,50,000 can be made in one financial year.
- If the minimum amount of Rs 250 is not deposited in any financial year , a penalty of Rs 50/- will be charged.
Sukanya Samriddhi Yojana Interest Rate. Sukanya Samriddhi Yojana interest rate is fixed by the Government based on the yields provided by Government securities. The interest rate is also reviewed every quarter. The Sukanya Samriddhi Account interest rate, once fixed, does not change.
May 20, 2024 · The Sukanya Samriddhi Yojana scheme currently offers an 8% per annum interest rate. What is Sukanya Samriddhi Yojana? Sukanya Samriddhi Yojana is a scheme backed by the government and launched by our honorable prime minister that focuses on the economic welfare of the girl child.
