The Indian government has rolled out a bunch of schemes aimed at helping its citizens. These initiatives cater to various needs, and there are specific programs designed to boost women’s empowerment. Parents often find themselves stressing over their kids’ education, especially when it comes to their daughters’ futures and marriage prospects. Many start saving up early for these expenses.
If you’re a parent with daughters and feeling anxious about their future, there’s no need to fret. We’re here to share details about a government scheme that can ease your worries. The Sukanya Samriddhi Yojana was introduced by the Government of India to help secure the future of girls.
By participating in this scheme, parents or guardians can open an account for their daughters, which also offers a decent interest rate. Launched in 2015, this program allows a minimum investment of Rs. 250, with a maximum annual deposit of Rs. 1.5 lakh. You can contribute in one go or in smaller amounts over time.
You can set up an account for any daughter under the age of 10, and families can open accounts for up to two daughters. If the second daughter is a twin, you can even open an account for three daughters. The account stays active for 21 years, and if a daughter gets married at 18, the account can be closed then. You’ll need to invest for 15 years, but interest will continue to accrue for 6 years even if no further deposits are made.
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