सुकन्या समृद्धि योजना:- The Sukanya Samriddhi Yojana is a Central Government initiative aimed at securing the future of daughters through a small savings scheme. It falls under the Beti Bachao Beti Padhao program. Parents can open an account for their daughters below the age of 10, with investments ranging from Rs 250 to Rs 1.5 lakh. If you’re considering saving for your daughter’s future, Sukanya Samriddhi Yojana is an excellent choice. This article provides comprehensive information about Sukanya Samriddhi Yojana 2023, so be sure to read it thoroughly.
Sukanya Samriddhi Yojana
Contents
- 1 Sukanya Samriddhi Yojana
- 2 Sukanya Samriddhi Yojana (SSY) Overview
- 3 Some Important Changes Made in Sukanya Samriddhi Yojana
- 4 How to Deposit Money in Sukanya Samriddhi Yojana 2024?
- 5 Where to Open an Account Under Sukanya Samriddhi Yojana?
- 6 Eligibility Criteria for Sukanya Samriddhi Yojana
- 7 How to Open an Account for Sukanya Samriddhi Yojana?
- 8 Conclusion
- 9 FAQ’s
Sukanya Samriddhi Yojana is a scheme launched by the Central Government which aims to secure the future of the daughters of the country. Under this scheme, parents or any other guardian of daughters below 10 years of age can open an account. Now 7.6% interest is also provided by the government in this scheme. This scheme can be opened only for two daughters under the same family. You can invest in this scheme from minimum Rs 250 to maximum Rs 1,50,000 in 1 year. By investing here you also get tax exemption under Section 80C of the Income Tax Act. You can deposit money through cash, cheque, draft or net banking. Under Sukanya Samriddhi Yojana, you will have to deposit money only for 15 years and then you will not have to pay any money for the next 6 years, but the interest rate will continue. On completion of 21 years of the account, the entire money along with interest is returned to the girl child in whose name the account is opened.
Sukanya Samriddhi Yojana (SSY) Overview
| Name Of Scheme | Sukanya Samriddhi Yojana |
| Was Started | by central government |
| Beneficiary | Girls aged 0 to 10 years |
| Investment Amount | Minimum investment Rs 250 Maximum investment Rs 1.5 lakh |
| Total Duration | 15 Year |
| Category | Govt. Scheme |
| Year | 2024 |
| Application Process | Offline |
Some Important Changes Made in Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana, a part of the Beti Bachao Beti Padhao scheme, has introduced some important changes, which include:
- Earlier, applicants had to deposit a minimum of Rs 250 annually. Now, if you cannot deposit this minimum amount for any reason, the interest rate on your maturity amount will not be affected. You will not be declared as a defaulter.
- The scheme initially allowed opening accounts for only two daughters, with no tax benefit under Income Tax Section 80c for the third daughter. However, the new change grants tax benefits under section 80c for the third daughter as well.
- Previously, Sukanya Samriddhi accounts could be closed prematurely in only two situations: if the child passed away suddenly or if the daughter married abroad. The new rules permit account closure for additional reasons, such as the daughter suffering from a serious illness or the parents’ demise.
- In terms of account operation, girls could take control of their accounts after turning 10 years old. With the rule change, any girl can manage her Sukanya Samriddhi account after reaching 18 years of age, giving her autonomy once she becomes an adult.
Benefits of investing in Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana offers several advantages:
- Higher Interest Rates: It provides a competitive interest rate of 7.6% for the first quarter of the financial year 2024-25, making it an attractive choice compared to other government-backed tax-saving schemes.
- Tax Exemption: Investments in Sukanya Samriddhi Yojana qualify for tax exemption under Section 80c of the Income Tax Act. You can claim tax benefits by investing up to Rs 1.5 lakh annually.
- Flexible Investment: Investors can contribute a minimum of Rs 250 and a maximum of Rs 1.5 lakh per year, allowing you to tailor your investments according to your financial situation.
- Compounding Benefits: The scheme offers annual compounding, making it a lucrative long-term investment option with the potential for excellent returns.
- Easy Transfers: Parents or guardians managing the Sukanya Samriddhi Account can transfer it freely between different parts of the country.
- Guaranteed Returns: As a government-run scheme, Sukanya Samriddhi Yojana provides the assurance of guaranteed returns.
How to Deposit Money in Sukanya Samriddhi Yojana 2024?
In Sukanya Samriddhi Yojana, you invest money for a duration of 15 years. You can deposit funds into the account using cash, cheques, drafts, or other accepted banking instruments. When depositing, you need to specify the depositor’s and account holder’s names. Electronic transfers are also an option, but the post office or bank must have a core banking system for this method. If you deposit money via draft or cheque, you’ll earn interest once it clears. However, for e-transfers, interest calculation begins from the day of deposit.
Where to Open an Account Under Sukanya Samriddhi Yojana?
Under Sukanya Samriddhi Yojana, you can open an account mainly in post office. Apart from this, you can also invest by opening an account under this scheme through government banks. Following are the names of some of the major banks in which you can open an account for Sukanya Samriddhi Yojana:
- State Bank of India
- Bank of Baroda
- Punjab National Bank
- Bank of India
- Indian Bank
- Post office
Eligibility Criteria for Sukanya Samriddhi Yojana
To benefit from Sukanya Samriddhi Yojana:
- The applicant must be an Indian citizen.
- Parents or legal guardians can open the account in the name of a girl child only.
- The girl child’s age must be under 10 years when opening the account.
- Multiple accounts cannot be opened for one girl child.
- Only two daughters per family can have accounts under this scheme.
- The scheme also allows opening an account in the name of an adopted daughter.
Documents Required
- Aadhaar card of parents
- PAN card
- identity card
- daughter’s aadhar card
- Birth certificate
- Address proof
- passport size photo
- mobile number
How to Open an Account for Sukanya Samriddhi Yojana?
To open a Sukanya Samriddhi Yojana account, follow these steps:
- Visit your nearest post office or bank branch.
- Obtain the Sukanya Samriddhi Yojana application form.
- Fill in all the required information on the form carefully.
- Attach the necessary documents as specified in the form.
- Submit the completed application form to the post office.
- A minimum deposit of Rs 250 is required to open the account.
- You will receive an application receipt that you should keep safely.
This process allows you to easily open a Sukanya Samriddhi Yojana account.
Conclusion
Sukanya Samriddhi Yojana (SSY) 2024 is a special scheme that aims to secure the future of Indian daughters. This scheme offers good interest rates, tax benefits, and security of receipts. The minimum age required to open an account is ten years and the account can be opened only for two daughters. This scheme provides an important and safe option for planning the girl child’s education and future.
FAQ’s
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana is a government-backed savings scheme aimed at securing the financial future of girl children in India.
Who is eligible to open an SSY account?
Parents or legal guardians can open an SSY account for a girl child below the age of 10 years.
How many accounts can be opened for a girl child under SSY?
Only one SSY account can be opened for a single girl child, and a maximum of two accounts are allowed per family.
What is the minimum and maximum annual deposit for an SSY account?
The minimum deposit is Rs 250 per year, while the maximum deposit allowed is Rs 1.5 lakh per year.
What is the interest rate for SSY in 2024 ?
The interest rate for SSY in the first quarter of the financial year 2024-25 is 7.6%.
Jatin Dubey is a 26-year-old MBA student whose passion for storytelling and a deep love for literature have fueled his journey as an aspiring author. Born and raised in a small town, Jatin discovered the magic of words at a young age when he stumbled upon an old, dusty library tucked away in a forgotten corner of his neighborhood. As he delved into the world of books, he found solace and inspiration in the pages of classic novels and contemporary fiction.