Govt. Scheme: Under this scheme run by the government, it can be opened before the age of 10 years in the name of the daughter in any Indian post office or designated branches of banks.
Govt. Scheme For Daughter: If you want to secure the future of your daughter, then you can invest in Sukanya Samriddhi Scheme, a savings scheme created by the government for girls. In this, you are given returns with good interest. The scheme was launched by Prime Minister Narendra Modi in January 2015 as a part of the government’s ‘Beti Bachao, Beti Padhao’ campaign. This campaign was started to encourage parents to create a provident fund for the future education and marriage expenses of the girl child.
Govt. Scheme For Daughter: If you want to secure the future of your daughter, then you can invest in Sukanya Samriddhi Scheme, a savings scheme created by the government for girls. In this, you are given returns with good interest. The scheme was launched by Prime Minister Narendra Modi in January 2015 as a part of the government’s ‘Beti Bachao, Beti Padhao’ campaign. This campaign was started to encourage parents to create a provident fund for the future education and marriage expenses of the girl child.
Explain that Sukanya Samriddhi account can be opened in any Indian post office or specified branches of banks in the name of the girl child before the age of 10 years. Parents can open minimum two accounts for each child. In the case of twins or triplets, there is an exception that allows additional accounts. You can transfer the account to any place in India.
Benefits of Sukanya Samriddhi Yojana
- For the current financial year, Sukanya Samriddhi Account offers an interest rate of 7.6%.
- This investment policy offers the highest rate of interest as compared to other savings schemes.
- A minimum investment of Rs 1000 and a maximum of Rs 1.5 lakh can be made in a financial year.
- As per section 80C of the Income Tax Act of 1961, investments made through the Sukanya Samriddhi Yojana scheme are deductible.
- At the age of 18, the account allows 50% withdrawal for further education.
Terms and Conditions of Sukanya Samriddhi Yojana
Explain that the amount deposited in Sukanya Yojana can be paid either in a lump sum or on a monthly basis. However, in the event of account closure, a penalty of Rs 50 per month will have to be paid if the account is re-opened. The account will be considered in default if the minimum balance is not maintained. The defaulted account can be revived by making a minimum payment of Rs.250 and Rs.50 for each year in default, before the lapse of 15 years from the date of opening of the account.
You will get this much money on maturity
If you open an account with Rs 250, add Rs 750 for the first month, and then keep depositing Rs 1,000 every month, your total annual deposit will be Rs 12,000. If you had opened the account at the time of your daughter’s birth, you would have invested Rs.1,80,000. By the time she turns 21, she would have earned Rs.3,47,445. After 21 years you will get maturity amount of Rs.5,27,445 along with interest.
