In Sukanya Samriddhi Scheme, the parents or guardians of the daughter below the age of 10 years can invest in Sukanya Samriddhi Scheme in the name of the girl child.
Sukanya Samriddhi scheme: Are you a parent of a daughter? If yes, then experts say that you should start planning for your daughter’s bright future from now on. You can start investing in Sukanya Samriddhi Scheme, a very special scheme of the Government of India from now on. With this, you will not need to worry much for your daughter’s education and her marriage. Yes, you have to keep investing continuously while being disciplined for this.
Who can invest and how much
In Sukanya Samriddhi Scheme, the parents or guardians of the daughter below the age of 10 years can invest in Sukanya Samriddhi Scheme in the name of the girl child. Under this, you can open an account in a bank or post office. In the scheme, you can invest from just Rs 250 per annum to a maximum of Rs 1.5 lakh per annum.
Interest on Sukanya Samriddhi Scheme
At present, the interest rate on this scheme of the Government of India (Ministry of Finance) is 7.6 percent as a return. The Government of India reviews this scheme every quarter. One can invest in the scheme in multiples of Rs 50. The interest earned in the form of return in this scheme is tax free.
Account opening and tax exemption is also available
Accounts in Sukanya Samriddhi Scheme can be opened at one place in any post office or bank. You can invest in the account for 15 years from the time the account is opened. Account can be opened for two daughters in a family. In this scheme, you can take advantage of tax exemption under section 80C of Income Tax. The account can be operated till the daughter completes 18 years of age.
When can you withdraw money
Money can be withdrawn in Sukanya Samriddhi Scheme only when the daughter completes 18 years of age or at least has passed 10th. This account will mature when your daughter attains the age of 21 years. Another option is marriage. If you are going to marry your daughter after her 18 years of age, then you can close the account. Apart from this, in case of death of the guardian, even if there is a life-threatening illness, the account gets closed after completing the process.
