Sukanya Samriddhi Yojna: The Government of India launched Sukanya Samriddhi Yojana to secure the future of daughters. This scheme was launched on 22 January 2015 under the ‘Beti Bachao, Beti Padhao’ campaign. The objective of this scheme is to provide financial assistance for the education and marriage of daughters.
In this scheme, parents or guardians can open an account in the name of their daughter and create a good fund by investing regularly in it. In this article, we will tell you how much benefit you will get by investing in this scheme and also an easy way to understand it.
Investment and Benefits in Sukanya Samriddhi Yojana
By investing in this scheme, you get the benefit of high interest rate, which is much higher than other savings schemes. Apart from this, it is a tax-free scheme. Let us know how much benefit you will get by investing in it.
Interest Rate
The current interest rate of Sukanya Samriddhi Yojana is 8.2% per annum. This interest is compounded annually.
Key Features Interest Rate
The current interest rate in Sukanya Samriddhi Yojana is 8.2% per annum. This rate is fixed by the government every quarter.
Long Term Investment
After opening an account in this scheme, you have to invest only for 15 years. Even after this, your money continues to earn interest till the account matures.
Tax Benefits
Investing in this scheme gives you tax exemption under Section 80C. Also, the interest earned and maturity amount are also tax-free.
Partial Withdrawal Facility
When the girl turns 18, 50% of the amount can be withdrawn from the account for her higher education.
- Required Documents
- Birth certificate of the girl
- Identification card of parent or guardian
- Residence certificate
- Passport size photo
- Account Opening Process
- Visit the nearest post office or bank branch.
- Fill the application form and submit the required documents.
- Activate the account by depositing a minimum of ₹250.