SSY Account : In this rapidly rising inflation, managing family expenses has become increasingly difficult. Meanwhile, parents are also worried about their children’s education and marriage. This concern is especially heightened when it comes to daughters. But now, parents need not worry about this, as the Indian government will make arrangements for their daughters’ education and marriage.

In fact, under the Sukanya Samriddhi Yojana (Samriddhi Yojana) of the Government of India, daughters receive a secure future. Deposits earn an interest rate of 8.2%. Let’s find out how to apply for this scheme and how to benefit from it.

What is Sukanya Samriddhi Yojana?

The Sukanya Samriddhi Yojana (SSY) is a scheme launched by the Indian government specifically for daughters. Under this scheme, individuals can open accounts for their daughters as early as the age of 10 and begin saving for them. The unique feature of this scheme is that annual deposits range from Rs 250 to Rs 1.5 lakh. The interest rate is also quite high, allowing parents to accumulate a substantial amount for their daughter’s education and marriage as she grows up.

How much interest do you get?

Under this scheme, deposits earn an interest rate of 8.2%, which is deposited into a girl’s bank account until she turns 21. After that, the money can be easily withdrawn upon reaching 21. Based on the interest rate, a daughter’s annual deposit of Rs 1.5 lakh for 15 years would result in a total deposit of Rs 2,250,000. The interest rate, on top of this, would translate to Rs 4,677,578. This means that by the time she turns 21, your daughter will receive approximately Rs 70 lakh, making her a millionaire.

What are the necessary documents?

It’s also important to know the required documents. To apply, you’ll need to provide the girl’s birth certificate, her parents’ identity card and passport-sized photograph, a bank or post office passbook, and contact details.

How to apply?

Applying for this scheme is very easy. Accounts can only be opened for two daughters in a family. To open an account, you need to visit your nearest post office.

1. First, go to the nearest post office or bank branch.

2. Obtain the Sukanya Samriddhi Yojana form.

3. Fill in all the required information correctly.

4. Attach the required documents to the form.

5. Submit the form along with the initial payment to the bank or post office.

6. Remember to obtain a receipt.