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Sukanya Samriddhi Yojana Gujarat Information
Sukanya Samruddhi Yojana (SSY) is a central government small savings scheme for daughters, launched under the Beti Bachao-Beti Padhao Yojana. Small savings plan has the best interest rate plan.
Currently, SSY was paying interest at the rate of 7.6%, which is exempt from income tax. Earlier, it also received tax-free interest of up to 9.2 percent. The Sukanya Samriddhi Yojana account, which can be opened with a very small amount, has been launched targeting families who want to deposit money for a child’s marriage or higher education through small savings.
Dipali Sen, certified financial planner, said, “Sukanya Samriddhi Yojana is a very good plan for people who have low income and don’t believe in investing money in the stock market. Capital protection with fixed income is the feature of this scheme.
Who will get the benefit of Sukanya Samriddhi Yojana?
It is mandatory to open an account under Sukanya Samriddhi Yojana within ten years before the birth of a daughter in the family. The account holder should be an Indian citizen and the account can be opened only in the name of the daughter.
A single parent or legal parent can open two accounts in the name of daughter. Some exemptions are granted only in exceptional cases. An account can be opened for this scheme by depositing Rs 250. After that, up to one and a half lakh rupees can be deposited in it every year.
It is necessary to keep depositing money in the account without ever defaulting for 15 years after opening the account. After 21 years of opening the account, the depositor will get the deposited money along with all the benefits on the expiry of the scheme.
Eligibility to avail Sukanya Samriddhi Yojana benefits
Any daughter residing in India whose age is less than 10 years can avail Sukanya Samriddhi Yojana
A girl can open only one account Maximum two accounts can be opened in one family
Exception if twins are both girls then in such exception you can open account for both
Accounts can be opened at Post Offices or branches of defunct banks Account can be opened with a minimum of Rs 250
Either parent can open the account, if the parent is not alive, the legal guardian can also open the account.
After the age of 10, the daughter can operate the account herself
Bank account transfer of Sukanya Samriddhi Yojana can be done from one place to another
Documents required for opening bank account of Sukanya Samriddhi Yojana
Birth certificate of baby girl
Address proof of parent/guardian
Identity proof of parent/guardian
Three photos of the child and parents
Xerox of PAN card and Aadhaar card of parent/guardian
Sukanya Samriddhi Yojana Benefits
The investment made in this scheme is exempt from tax under Section No. 80-C of the Income Tax Act.
Apart from poor families, lower middle class, middle class and other social class families will benefit. This is a long term plan. In this scheme interest is paid on compound basis. Due to this, the money received at maturity also increases.
The money deposited in this account can be spent after the girl becomes of legal age for marriage.
Interest is accrued on the deposit in the account till the daughter reaches 21 years of age. Apart from this, you can deposit money in this account as many times as you want in a month or a year.
Even if the money is not withdrawn from this account even after the daughter turns 21, the deposited money continues to earn interest at the prescribed rate.
Sukanya Samriddhi Yojana account can be transferred to the nearest post office or bank if the parents or guardian of the girl migrates to another village or city.
Sukanya Samriddhi Yojana Useful Link