SSY Interest Rate: If you also invest in Sukanya Samriddhi Yojana keeping in mind the future needs of your beloved daughter, then this news is useful for you. The government changes the rules related to it from time to time. Apart from this, its interest rate is also reviewed every quarter. It is important for you to stay updated about all these.
The government will review the interest rate in the quarter ending in June. However, this time there is little hope of any change in the interest rate. Investing under this scheme run by the government gives an interest of 8.2 percent per annum. You also get income tax exemption under section 80C on investing in it. Let us know about the 5 major changes made in SSY in the last few years.
Under the rules of Sukanya Samriddhi Yojana (SSY), the provision of reversing the wrong interest credited in the account has been removed. Apart from this, the annual interest of the account will be credited at the end of every financial year. Earlier it was credited to the account on a quarterly basis.
Under the earlier rules, daughters could operate the account at the age of 10 years. But this has been changed under the new rules. Under the new rules, daughters are not allowed to operate Sukanya Samriddhi account before the age of 18 years. Till the age of 18, only the guardians will operate the account.
There is a rule to deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh annually in Sukanya Samriddhi Yojana account. If you do not deposit the minimum amount, the account becomes default. Under the updated rule, if the account is not activated again, interest will continue to be paid at the applicable rate on the amount deposited in the account until maturity. Whereas earlier this rule was not there.
As per the earlier rules of Sukanya Samriddhi Yojana, the account of two daughters was eligible for tax exemption under 80C. But now if you have a third daughter, a Sukanya Samriddhi Yojana (SSY) account can be opened on her birth as well. Under this rule, there is a provision to open an account for two twin daughters born after the first daughter. In this way, a person can open an account for his three daughters.
Earlier, the Sukanya Samridhi Yojana account could be closed on the death of the daughter or change of address of the daughter. But now, the life-threatening illness of the account holder has also been included in it. The account can be closed prematurely even on the death of the guardian.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
