SSY Scheme: In this scheme, you can deposit money on monthly basis or can also give it in lump sum. In this scheme, you can deposit money for the next 15 years from the date of account opening.
Keeping in mind the future of daughters, a special scheme of the Government of India, Sukanya Samriddhi Yojana, is quite popular. This scheme proves to be very helpful in fulfilling the father’s responsibilities like daughters’ education and marriage. If your daughter is still below 10 years of age, then you can also start investing in this scheme (SSY scheme). Under this scheme, only one account can be opened in the post office or any bank in the name of a girl child in India. According to the official website of the post office, this account can be opened for maximum two girls from a family. Yes, in case of birth of twins/triplet girls, more than two accounts (Sukanya Samriddhi Account) can be opened.
You can start investing even with Rs 250
Under Sukanya Samriddhi Yojana, you can start investing with just Rs 250. However, you can invest maximum up to Rs 1.50 lakh in a year. If you want, you can deposit money every month or give it in lump sum. In this scheme (SSY scheme), you can deposit money for the next 15 years from the date of account opening. If at least Rs 250 is not deposited in a year, the account is considered in default.
How much return do you get?
Currently, Sukanya Samriddhi Yojana of the Government of India offers 8 percent annual interest. Let us tell you, the Finance Ministry reviews the interest rates on this scheme (Sukanya Samriddhi Yojana) quarterly. On investment in this scheme (SSY scheme), you also get the benefit of tax exemption under Section 80C of Income Tax. Only the father or guardian of the daughter will operate this account till she completes the age of 18 years. There is no tax on the interest earned on the maturity of the scheme.
When can the account be closed
When the daughter completes 21 years of age, you can close Sukanya Samriddhi Account or in case of marriage after 18 years of age, you can close it (Sukanya Samriddhi) 1 month before the date of marriage or It can be closed after 3 months.
