By investing in Sukanya samriddhi yojana, parents can easily meet their daughter’s education and marriage expenses. Account can be opened in this scheme with a minimum of Rs 250. In this, the annual deposit limit is Rs 1.50 lakh.
New Delhi. Sukanya Samriddhi Yojana (Sukanya samriddhi yojana-SSY) was launched in 2015. This is a small savings scheme of the government. This is the reason why there is a guarantee of getting returns along with security on the amount deposited in this scheme. The benefit of tax exemption under section 80C of the Income Tax Act can also be availed on the investment made in Sukanya Samriddhi Yojana. Apart from this, the interest earned on the maturity of this scheme is also tax free.
By investing in Sukanya Samriddhi Yojana, parents can easily meet the expenses of their beloved’s education and marriage. Account can be opened in this scheme with a minimum of Rs 250. In this, the annual deposit limit is Rs 1.50 lakh. The account can be opened by the guardian or parents of a girl child of 10 years of age or less. This plan matures in 21 years. The special thing is that money has to be deposited only for 15 years from the date of opening the account.
It is important to know this rule
At present, interest is being given in Sukanya Samriddhi Yojana at the rate of 7.6 per cent per annum. In this scheme, interest is paid only on the minimum balance available between the 5th and the last date of every month. This means that if you do not invest in it before or before the 5th of the month, you will not get interest for that month. Therefore, those investing in this scheme should keep in mind that they should deposit their installment in this scheme before the 5th day so that they can get interest on it. If they deposit the installment after the 5th, then they will not get the interest for that month. In this way they will be harmed.
In Sukanya Samriddhi Yojana, the interest is calculated on a monthly basis, but the entire interest is credited on the last day of the financial year i.e. 31st March. The interest is compounded on an annual basis. This is the reason why depositing money before the 5th of every month can be beneficial.
