What is Sukanya Samriddhi Yojana Sukanya Samriddhi Yojana (SSY) is a small savings scheme of the Central Government for daughters, launched under the Beti Bachao-Beti Padhao scheme. Sukanya is the best interest rate scheme in the small savings scheme.
Investment can be made with this amount of money In Sukanya Samriddhi Yojana, an account can be opened with just Rs 250. That is, even if you save 1 rupee per day, you can still take advantage of this scheme. At least Rs 250 should be deposited in any one financial year. In a single financial year, no more than Rs 1.5 lakh can be deposited in an SSY account or once.
How much interest is received? At present, interest was being given at the rate of 7.6 percent in SSY (Sukanya Samriddhi Account) which is with income tax exemption. Earlier, it also got interest up to 9.2 percent. After the age of 8 years, up to 50 percent of the amount can be withdrawn for the higher education of the daughter.
How to open an account Under Sukanya Samriddhi Yojana, the account can be opened in any post office or authorized branch of commercial branch. Under this scheme, the account can be opened before the birth of the girl child with a deposit of at least 250 rupees before the age of 10 years. In the current financial year, a maximum of Rs 1.5 lakh can be deposited under Sukanya Samriddhi Yojana.
Also read: Open online savings account of your children at SBI, know full details
How long can the account be run? After opening Sukanya Samriddhi Yojana account, this girl child can be run till the age of 21 years or her marriage after the age of 18 years.
How much penalty is charged if the amount is not deposited If a minimum deposit of Rs 250 is not deposited every year, the account will be closed and can be revisited with a penalty of Rs 50 per year along with the minimum amount required for the deposit for that year. Reactivation can take place up to 15 years after the account is opened.