The maximum amount that can be deposited in Sukanya Samriddhi Yojana every financial year is Rs 150000. Under this scheme, 7.6 percent interest rate is available annually on the deposited money. Know below how one can start this scheme with SBI Bank.
Sukanya Samriddhi Yojana is a scheme for daughters to invest and save by their parents or guardians. It is invested by the parents or legal guardian on behalf of the daughter for the purpose of her welfare. In order to ensure the bright future of daughters, the Modi government had issued a notification on December 2, 2014. Account opening facility under this scheme is available in all branches of SBI.
Deposit amount
At the time of opening Sukanya Samriddhi Yojana account, the minimum deposit amount will be Rs 250 initially. After this the amount can be deposited in multiples of Rs.150. The maximum amount that can be deposited in this every financial year is Rs 150000. Money can be deposited in this scheme for a maximum period of 15 years from the date of account opening.
Rate of interest
Sukanya Samriddhi Yojana offers an interest rate of 7.6 per cent per annum. The interest earned under this scheme is tax free under the Income Tax Act. As per the rules, there is a triple exemption benefit under this scheme i.e. the amount invested, the income earned as interest and the amount withdrawn will not attract any tax.
Document
- SSY Account Opening Form
- Birth Certificate of Beneficiary (Daughter)
- Address proof and ID proof of the guardian or parents of the beneficiary
How to open Sukanya Samriddhi Yojana Account in SBI?
The parent or guardian of the girl child can open the account with an initial amount (Rs.250). For this, he should bring the Sukanya Samriddhi Yojana account form from SBI Bank and fill it and submit it to the nearest branch of the bank. You will also have to provide your address and ID proof along with the form. As of now there is no option to open the account online but as a beneficiary SSY account can be linked with SBI net banking, allowing you to transfer money to the account online.
