Sukanya Samriddhi Yojana: The interest rate in Sukanya Samriddhi Yojana is 7.6 percent per annum. Maximum 1.5 lakh rupees can be invested in a financial year
Sukanya Samriddhi Yojana: If you are also planning to invest for your daughter, then Sukanya Samriddhi Yojana (SSY) can prove to be a better option. SSY is a scheme started in the name of daughters of Modi government. In this, the maturity amount is available when the daughter turns 21. This is the highest interest paying scheme in Small Savings Scheme. This scheme encourages long term investment. In this scheme running in the name of daughters, your money is guaranteed to increase 3 times.
The special thing about this scheme is that investment can be started from Rs.250 in it. Interest is also good in this as compared to other schemes. Along with this, the benefit of tax exemption is also available.
The government is giving interest at the rate of 7.6 per cent per annum on Sukanya Smridhi Yojana. A maximum of Rs 1.5 lakh can be invested in a financial year. At the same time, if at least 250 is not invested in any financial year after the account is opened, then a penalty of Rs 50 will be imposed. If your daughter’s age is less than 10 years, then SSY account can be opened in her name. The maturity of the plan is up to 21 years. But parents have to deposit money only for 14 years. Interest continues to accrue for the rest of the year. An amount up to Rs 64 lakh can be raised through this scheme.
Know when you can withdraw money
The money deposited in it cannot be withdrawn till the girl child turns 18. Even after 18 years, only 50% of the total amount can be withdrawn from this scheme. Full money will be given when the daughter turns 21. Money can be received in a lump sum or in installments. You will get money only once in a year. You can take money in installments for a maximum period of five years.
Can I transfer the account?
After opening the account of Sukanya Samriddhi Yojana, you can transfer anywhere in India. If the guardians provide proof of change of residence, their account will be transferred free of cost. If no such proof is shown, then for the transfer of the account, a fee of Rs 100 will have to be paid to the post office or the bank where the account has been opened.
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