Secure Your Daughter’s Future
The Sukanya Samriddhi Yojana (SSY) is a savings scheme launched by the Modi Government in 2015 as a part of the “Beti Bachao, Beti Padhao” campaign. This scheme is specially designed to help parents secure their daughter’s future by saving a small amount every month.
Why This Scheme Is Important?
Before we talk about the scheme, let’s understand the reality.
In Indian society, daughters are considered as a “Lakshmi”, but when a girl is born, many families start worrying about her education and marriage.
For poor and middle-class families, planning for a daughter’s future, but they are not able to save money.
Daily wage workers and low-income families want to save money, but don’t know which scheme is safe or which bank to trust, especially after some companies like Sahara Group took people’s money and disappeared.
But now, no need to worry about! The Government of India has launched a safe and high-return scheme to help families invest for their daughters the Sukanya Samriddhi Yojana.
What is Sukanya Samriddhi Yojana (SSY)?
Started in 2015 under the Beti Bachao, Beti Padhao campaign.
A savings account is opened in the daughter’s name by her parents or guardian.
You can save as little amount as ₹250 per year and up to ₹1.5 lakh per year.
Who Can Invest in This Scheme?
Anyone can invest, including:
Daily wage workers
Government employees
Private sector workers
The scheme is only for daughters, and any family from any financial background can open an account.
Benefits of Sukanya Samriddhi Yojana
It is a safe investment, backed by the government of India.
You will get a good rate of interest.
Parents don’t feel pressure, as even small savings every month can grow into a big amount.
When the daughter turns 18, you can use the money for her higher education or marriage.
It reduces the stress of planning for your daughter’s future.
You can also get the ax benefit under section 80C.
Up to which Age can open the account?
You can open an account for a girl from birth to 10 years of age. Under this scheme maximum 2 account open. 2 account can be open In case of twins and 3 daughter.
How Much Money Can You Deposit?
Minimum deposit: ₹250 per year
Maximum deposit: ₹1.5 lakh per year
Under this scheme you can deposit for 15 years of daughter age, but the account matures when the girl turns 21 years old.
When and How Can You Withdraw the Money?
The account matures when the daughter turns 21. After that, you can withdraw the entire amount with interest.
At the age of 18, you can withdraw 50% of the amount for higher education.
You can also withdraw money at the time of marriage, after the daughter turns 18.
Can You Close the Account Early?
Yes, but only after 5 years, and only in special situations like:
Serious illness
Financial emergency, etc.
If you close early, the interest earned will be similar to a normal savings account.
How Can You Build a Big Amount?
For example:
If you save ₹12,500 per month (which is ₹1.5 lakh per year),
You can get around ₹60 lakh when the scheme matures, based on the current interest rate.
Will Get Tax Benefits?
Under Section 80C of the Income Tax Act, you get tax exemption for the amount you deposit.
The interest earned and the maturity amount are also tax-free.
How to Open Sukanya Sukanya Samriddhi Yojana?
To open Sukanya Samriddhi Yojana account you have to visit any bank Branch or Post office.
Contact to the branch Manager and asked about the Sukanya Samriddhi Yojana.
Branch Manager will provide you Form.
Fill Form carefully and attached some documents and submit.
Conclusion
The Sukanya Samriddhi Yojana is one of the best and safest schemes for your daughter’s future. With small monthly savings, you can build a big amount for her education or marriage and live stress-free. So, what are you thinking, I thing we all have to start saving in this scheme for our daughter future.