The ‘Sukanya Samriddhi Yojana’ undertaken by the Central Government is also important. This scheme for girls under 10 years is very popular and in demand. Here are some important information about this scheme that gives high returns. Sukanya Samriddhi Yojana; Investment allowed only up to 15 years.
Governments have run some beneficial schemes for girls. Bhagyalakshmi Yojana of Karnataka State Government is also one. Also, the ‘Sukanya Samriddhi Yojana’ undertaken by the central government is also important. This scheme for girls under 10 years is very popular and in demand. Here is some important information about this scheme that gives high returns .
* Girls aged 10 years and below can open SSY account in the name of their parents or guardians.
* This is a 21 year scheme and can be invested every year from the start of the scheme up to 15 years.
* Minimum investment is Rs 250 per year. If yes, the maximum amount is Rs 1.5 lakh.
* Investment can be made only once in a year. Any amount of money up to one and a half lakh can be deposited in the account.
* Account can be deposited only for 15 years. After that, there will be a lock-in period of up to 7 years.
* Interest and compound interest will be accrued every year on the money you deposit in the account. Interest continues till 21 years of age.
* At present the interest rate is per cent per annum. There is 7.6. Government frequently revises the interest rate of this scheme. In 2016, the percentage 9.1% interest was provided. Now it is gradually decreasing. The respective interest rate will be applicable for the deposits of the respective period.
* Accounts opened under Sukanya Samriddhi Yojana mature at 21 years. That means if the account is opened when the child is 7 years old, it will mature when the child is 28 years old.
* Even if the scheme is 21 years, it is possible to withdraw money in certain specific and necessary cases. A girl child can withdraw money at least one month before the marriage date after crossing 18 years of age. Or you can withdraw money within 3 months of marriage. For that, the girl should provide her identity card and marriage certificate.
* In case of premature death of the planned girl child, the account can be closed and the money paid in it can be transferred to the parent’s account.
* Online opening of Sukanya Samriddhi Yojana account is not allowed. You can go to the post office or some bank offices and fill the application form and open the account. Birth certificate of female child should be given. Photo, PAN Card, Aadhaar Card, Passport, Driving License etc. of the girl child’s parents should also be provided. There is still a rule that the initial installment should be paid by check or DD.
* The investment money made in Sukanya Samriddhi Yojana is tax exempt. This means that no tax is deducted for the returns coming from this.
* Sukanya Samriddhi Yojana is tailor-made for long-term and safe investment and for the benefit of women.
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