Sukanya Samridhi Yojana: If you have a daughter in your house and you want to save for her future, then Sukanya Samridhi Yojana (SSY) is a great option. The good news is that the government has kept the interest rate of this scheme at 8.2% per annum for the quarter from April to June 2025.
Sukanya Samridhi Yojana: If you have a daughter in your house and you want to save for her future, then Sukanya Samridhi Yojana (SSY) is a great option. The good news is that the government has kept the interest rate of this scheme at 8.2% per annum for the quarter from April to June 2025. This is still the highest compared to other savings schemes.
What is Sukanya Yojana?
This scheme has been created for the education and marriage expenses of daughters. In this, parents can open an account in the name of their daughter and can make big savings from small amounts. There is complete trust and security from the government because this scheme is being run under Beti Bachao, Beti Padhao.
How much money can be deposited?
You can open this account for just Rs 250. Every year a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited. You can deposit the money in one go or in multiples of Rs 50 every month, as per your convenience.
What are the benefits?
The interest received in this scheme keeps increasing every year. That is, compound interest is received. There is no tax on it. The account matures after 21 years and then the entire deposited amount is available without any tax.
You can withdraw money in between for studies
If the daughter is 18 years old or has passed 10th, then half the money can be withdrawn for her education expenses. This money can be withdrawn either once or once every year for 5 years. You can withdraw money from it as per your need.
When can the account be closed earlier?
- Although this account lasts for 21 years, but if the daughter dies or has any serious illness, or the guardian dies, then the account can be closed after 5 years.
- The account can also be closed at the time of marriage
- If the daughter is getting married after 18 years, then also the account can be closed.
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