Features of Sukanya Samriddhi Yojana Account
- Deposits made under this scheme (Sukanya Samriddhi Yojana) are exempt from U / S 80C!
- The account must be opened by a parent or guardian, and the girl can only operate the account after attaining 18!
- This scheme (Sukanya Samriddhi Scheme) is available to any girl child, whose age is 10 years or less!
- One is required to submit the birth certificate of his girl child!
- The maximum allowable amount is Rs 1,50,000!
- Investment is transferable from one account to another or from post offices to banks and vice versa!
- You can have only one account (SSY account) for each girl! Many accounts may get fined!
- If the amount does not credit by the due date, one has to pay a fine of Rs 50!
How To Open Sukanya Samriddhi Account
In this scheme (Sukanya Samriddhi Scheme) one has to invest a minimum of 1000 rupees (investment)! And later you can deposit any amount in multiples of 100! You can partially withdraw enough when the girl gets only 18 years to support for studies or marriage (Sukanya Samriddhi Yojana)! The investment period is not more than 14 years after which no deposit is required and the amount deposited in Sukanya Samriddhi Account (SSY Account) will continue to receive interest till maturity!
How To Open Sukanya Samriddhi Account Step by step Video
Calculation of maturity value
- Several variables contribute to the accuracy of the valuation of maturity value! If you keep monthly and annual contributions constant, the maturity value can be easily calculated!
- Assume an interest rate of 8.65 for the full 21 years!
- Consider the monthly deposit made on the first day of each month and the annual deposit on April 1 of each year!
- Furthermore, assume that no evacuation has been made during these 21 years!
How to open SSY account
To open Sukanya Samriddhi Account (SSY Account)! You can go to any post office or public / private authorized banks nearby! Fill the required form and submit it along with all other required documents! After verification of all your details, you will be approved for account opening (Sukanya Samriddhi Scheme)! Either parents or guardians can open an account in the name of their girl child.
The sole purpose of the scheme (Sukanya Samriddhi Yojana) is to promote girls for further and better education in the country! To avoid financial issues while making significant payments for college fees, one can start investing from the time the girl is 10 years old or younger!
Step by step process to Transfer your SSY account.