Investments under Sukanya Samriddhi Yojana can take tax exemption under section 80C of the Income Tax Act. A minimum of Rs 250 can be deposited in the scheme annually.
Modi Govt Sukanya Samriddhi Yojana in Post Office: If you are thinking about investment, then you would be the first choice to invest in government schemes. After all, most people feel that their investments in government schemes are completely safe. Keeping this in mind during the tenure of the Modi government, many schemes were started, in which investment completely secures the future of you or your children. These include many post office schemes, in which Sukanya Samriddhi Yojana (SSY) is a better option.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is the highest interest paying scheme in the Small Savings Scheme of the Post Office. SSY is getting very good interest as compared to PPF, FD, NSC, RD, Monthly Income Scheme or Time Deposit.
If you take this plan in the name of your child, then you deposit the maximum limit every year, then on maturity, this scheme gives more than 60 lakh funds by creating.
21 years is the maturity of the plan
The interest rate in Sukanya Samriddhi Yojana is 7.6 percent per annum. The maturity of this scheme is said to be 21 years. In this, the family members of the child have to invest only for 14 years. Interest keeps on adding up for the rest of the year.
Whatever your investment in this scheme, the return on maturity will be 3 times. A maximum amount of Rs 63.50 lakh can be raised from this scheme at the prevailing interest rates.
See full plan like this
- Maximum investment: Rs 1.50 lakh per annum or Rs 12500 monthly
- Interest Rate: 7.6% p.a.
- If the interest rate remains the same and you invest maximum for 14 years
- Your total investment: Rs 22.50 lakh
- Maturity amount: Rs 63.65 lakh
- Interest Benefit: Rs 41.15 lakh
What are government schemes
Account under SSY can be done by visiting any post office. For this, a form has to be filled in the post office. Along with this, it is necessary to give the birth certificate of the daughter. Keep in mind that this account can be opened only in the name of girl child below 10 years of age. For this, ID proof of parents is also required, in which any documents can be used such as PAN card, ration card, driving license, passport. At the same time, documents will also have to be submitted for address proof. Your account will be opened after the verification of your documents from the bank or post office. After the account is opened, a passbook is given to the account holder.
What are the benefits
Investments under Sukanya Samriddhi Yojana can take tax exemption under section 80C of the Income Tax Act. If the daughter attains the age of 18 years and needs money for her studies or her marriage, then you can withdraw up to 50 percent of the deposit amount. A minimum of Rs 250 can be deposited in the scheme annually.