Sukanya Samriddhi Yojana: Under the Sukanya Samriddhi Yojana, accounts can be opened in the name of daughters till the age of 10 years.
Sukanya Samriddhi Yojana: In the Sukanya Samriddhi Yojana of the government, you can secure the future of your daughters. Through this scheme, you can also bear the expenses of your daughter’s wedding. With this, the daughter’s higher education, career will be assured. The government had started the Sukanya Samridhi Yojana under the Beti Bachao-Beti Padhao campaign. An account can be opened for a daughter below the age of 10 years under Sukanya Samriddhi Yojana.
Investing under Sukanya Samriddhi Yojana gives better returns, along with tax exemption. Under this scheme, the account can be opened in the name of daughters below the age of 10 years. In this, after attaining the age of 18 years, the ownership is transferred to the daughter.
At present, interest of up to 7.6 percent is available on depositing money in it. Investment under this scheme is also eligible for tax exemption under section 80-C of the Income Tax Act. In this, you can get a rebate on investment of Rs 1.5 lakh every year. Also, the returns received in this scheme are also tax free. If you invest in Sukanya scheme every financial year i.e. till March 31, you also get the benefit of tax exemption in the financial year.
Where to open account
For Sukanya Samriddhi Yojana, you can go to any bank or post office and open an account in the name of your daughter. The account can be continued till 21 years after the account is opened or till the daughter gets married after the age of 18 years. 50 percent amount can be withdrawn for higher education from this account when the daughter turns 18.
Interest is available for 21 years
The good thing about this scheme is that you do not have to deposit money for the entire 21 years, money can be deposited only for 15 years from the time of opening the account, while interest will continue to accrue on those money till the daughter’s age of 21 years. In this scheme, the amount will double in 9 years 4 months.
How much money will be available in this scheme
If you invest Rs 3000 every month in this scheme i.e. Rs 36000 annually, you will get Rs 9,11,574 after 14 years at 7.6 per cent compounding annually. On 21 years ie maturity, this amount will be around Rs 15,22,221. If you save Rs 416 per day then you can collect Rs 65 lakh fund for your daughter.
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