SSY Interest Rate Change: Let us tell you that Sukanya Samriddhi is also included in small savings schemes. By making a small investment in this scheme, you can arrange money for your daughter’s future.
SSY Interest Rate Change: In the next 13 days, the central government is going to give a decision on the interest rate of small savings schemes. Actually, the decision regarding the interest rate of small savings schemes is taken on a quarterly basis. In such a situation, the decision on the interest rate for the next quarter i.e. from April to June is now going to be taken. Let us tell you that Sukanya Samriddhi is also included in small savings schemes. By making a small investment in this scheme, you can arrange money for your daughter’s future.
What is the specialty of the scheme
Under this scheme, parents can open an account from immediately after the birth of the girl child till she turns 10 years old. Only one account is allowed to be opened for each child. Parents can open a maximum of two accounts for each of their children. However, there is a relaxation in opening more accounts in case of twins or triplets. Any girl child who is a resident of India from the time of opening the account till maturity/closure is eligible for this scheme.
These are the required documents
Account opening form, girl child’s birth certificate, proof of identity as per RBI KYC guidelines and proof of residence are required under Sukanya Samriddhi. Any post office or commercial bank branch allows opening of Sukanya Samriddhi account for girls.
Starting from Rs 250
Sukanya Samriddhi Yojana starts with a minimum initial deposit of Rs 250. The total annual deposit limit is limited to Rs 1,50,000. Funds can be deposited for a period of up to fifteen years from the date of opening the account. Under the scheme, the central government pays 8.2% interest per annum. An application can be made for withdrawal of up to fifty percent of the amount for educational purposes. This withdrawal is acceptable only when the account holder turns 18 years of age or completes class ten, whichever is earlier.
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