Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana has been started by the government for girl children. Prime Minister Narendra Modi launched SSY in 2015 as part of the Beti Bachao Beti Padhao campaign.
This scheme is designed to cover the education and marriage expenses of a girl child. Sukanya Samriddhi Yojana encourages parents to create a large fund for their daughters’ future to cover education and marriage expenses. This account can be opened by the parents or legal guardian of the girl child. This account can be opened for any girl child whose age is less than 10 years.
According to the information available on the official portal of MyScheme, NRIs are not yet covered under Sukanya Samriddhi Yojana. Information about all government schemes is available on MyScheme app.
This account can be opened for the girl child by any one of the parents. However, the age of the girl child should be ten years or less.
- Under this scheme, each account holder will have only one account.
- Under this scheme, accounts can be opened for maximum two girls in a family.
- More than 2 accounts in a family will be opened only if one of the twins or triplets is a girl child.
You can deposit up to Rs 1.5 lakh annually
An account of a daughter up to 10 years of age can be opened in Sukanya Samriddhi Yojana. In this you can deposit a minimum of Rs 250 and a maximum of Rs 1.50 lakh. This scheme will become mature when the daughter turns 21 years of age. However, your investment in this scheme will be locked at least until the daughter turns 18 years old. Even after 18 years, you can withdraw 50 percent of the total money. Which she can use for graduation or further studies. After this, all the money can be withdrawn only when she turns 21 years of age.
The specialty of this scheme is that you do not have to deposit money for full 21 years. Money can be deposited only for 15 years from the time of opening the account. Whereas the daughter will continue to get interest till the age of 21 years. At present the government is giving interest on it at the rate of 7.6 percent per annum.
Where to open an account?
Sukanya Samriddhi Yojana (SSY) account can be opened in any post office or bank. Under the scheme, you can open this account by depositing at least Rs 250 within 10 years of the birth of the girl child. The interest rate in Sukanya Samriddhi Yojana is 7.6 percent per annum. In SSY, interest is available as compared to PPF, FD, NSC, RD, Monthly Income Scheme or Time Deposit.