Sukanya Samriddhi Yojana: Now interest in SSY will be 8.2 percent instead of 8 percent. This interest is quite good compared to many other schemes. If your daughter’s age is up to 10 years, then you can deposit money in this scheme in her name and accumulate a good amount of funds till she grows up.
The government has given a big gift to daughters on New Year. The government has once again increased the interest rates of Sukanya Samriddhi Yojana (SSY), a scheme run for the future of daughters. Now in this scheme, instead of 8 percent, interest will be given at the rate of 8.2 percent. This interest is quite good compared to many other schemes. If your daughter’s age is up to 10 years, then you can deposit money in this scheme in her name and accumulate a good amount of funds till she grows up.
Will have to invest for 15 years
Sukanya Samriddhi Yojana is a long term scheme. In this scheme you can deposit Rs 250 to Rs 1.5 lakh annually. In this, investment has to be made continuously for 15 years and after 21 years the deposited amount is received with maturity. If your daughter is 2 years old and you start investing in SSY for her in the new year 2024, then you can add a big fund for her till 2045 i.e. when your daughter will be around 22-23 years old.
If you deposit even 5,000 per month, lakhs will be added.
If you deposit even Rs 5,000 every month in SSY, then you will deposit a total of Rs 60,000 in a year. In this way, you will invest a total of Rs 9,00,000 in 15 years. According to SSY Calculator, at 8.2 percent interest, after 21 years you will get the maturity amount of Rs 28,72,848. You can deposit this amount for your daughter’s higher studies or marriage etc.
Open an account like this
Download the form of Sukanya Samriddhi Yojana by visiting the website of the bank or post office. Print it out, fill it up and attach the required information, photograph and other documents like child’s birth certificate, photograph, parent’s identity card, etc. After this, go to the nearest bank branch or post office branch with the filled form and documents. Also take the original copies of all the documents along. After this, the employees of the bank or post office where you are opening the account will check the form and match the attached documents with the originals. After this the account will be opened in your daughter’s name. After opening the account, you can do many things online.
Account can be opened only for two daughters
Interest in Sukanya Samriddhi Yojana is reviewed on quarterly basis. In this, tax exemption is also available under Section 80C of the Income Tax Act. You can claim tax exemption on maximum Rs 1.50 lakh. Under this scheme, you can open accounts only for two daughters. If you have more than two daughters, then you will not get the benefit of this scheme for the third or fourth daughter. However, if your second girl, twins or triplets are born, then Sukanya Samriddhi Account can be opened for her.