Introduction
Sukanya Samriddhi Yojana (SSY) is a savings scheme launched by the Government of India to secure the future of the girl child. This scheme offers one of the highest interest rates among small savings schemes, making it a preferred choice for parents.
Features and Benefits
High Interest Rate:
- Interest for FY 2024-25 is 7.6% per annum, compounded annually.
Tax Savings:
- Investments qualify for tax deductions under Section 80C of the Income Tax Act.
Lock-In Period:
- The account matures after 21 years from the date of opening.
Eligibility and Application Process
Eligibility:
- The account can only be opened for girls aged below 10 years.
- Only two accounts per family are allowed (one for each girl child).
Steps to Apply:
- Visit the nearest post office or authorized bank.
- Submit the Sukanya Samriddhi Yojana application form with proof of identity and address.
Success Stories
Lakshmi, a farmer’s daughter from Maharashtra, now has a secure fund of ₹5 lakh at maturity, thanks to SSY.
Important Links:
Made with Superblog