Sukanya Samriddhi Yojana (SSY) is included in the small saving schemes of the post office. Let us know about this scheme in detail.
If you are thinking of investing in the coming days, then you can do it in the Savings Schemes of the Post Office. You definitely get good returns in these schemes. Also, the money invested in it is also completely safe. If the bank defaults , then you get back only Rs 5 lakh. But it is not so in the Post Office . Apart from this, investment in post office savings schemes can be started with a very small amount. Sukanya Samriddhi Yojana (SSY) is included in the small saving schemes of the post office. Let us know about this scheme in detail.
Rate of interest
The post office’s Sukanya Samriddhi Yojana currently offers an interest rate of 7.6 per cent per annum. This interest rate is applicable from 1st April 2020. The interest in this small savings scheme is compounded and calculated on an annual basis.
Investment amount
In this government scheme, a person will have to invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh in a financial year. After this, you will have to deposit in multiples of Rs 50. The deposit has to be made in a lump sum amount. There is no limit on the number of deposits in a month or a financial year.
Who can open account?
Under Sukanya Samriddhi Yojana, a guardian can open an account in the name of less than 10 years of age. In this small savings scheme, only one account can be opened in the name of the girl child in any post office or any bank in India. This account can be opened for a maximum of two girl children in the family. In case of having twins or triplets, more than two accounts can be opened.
Tax exemption
The amount deposited in this government scheme can be claimed for deduction under section 80C of the Income Tax Act.
Maturity
In this scheme of post office, the account will mature after 21 years from the date of opening. Apart from this, it can also be closed at the time of marriage after the girl child reaches the age of 18 years. It has to be done one month before or three months before the date of marriage.
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