by The Sukanya Samriddhi Yojana scheme is aimed at betterment of girl child in the country. Sukanya Samriddhi scheme has been launched to offer a means of saving to the girl child in every family. Tenure of SSY is 21 years from the date of opening of the account or till the marriage of the girl after she attains the age of 18 years.
Aim:
- To stop gender discrimination of children and abolish the practice of sex determination.
- To ensure the survival and protection of girls.
- To ensure higher participation of girls in education and other areas.
Sukanya Samriddhi Yojana Information
| Interest rate | 7.60% p.a. |
| Investment Amount | Minimum – Rs.250, Maximum Rs.1.5 lakh p.a. |
| Maturity Amount | Depends on the invested amount |
| Maturity Period | 21 years |
Tax Benefit:
- Investments made in the SSY scheme are eligible for deductions under Section 80C, subject to a maximum cap of Rs 1.5 lakh.
- The interest that accrues against this account which gets compounded annually is also exempt from tax.
- The proceeds received upon maturity/withdrawal are also exempt from income tax.
| Features | Details |
| Operation of the account | · The guardian or parents can operate the account until the girl reaches the age of 10 years.
· The girl must operate the account once she attains the age of 18 years. |
| Deposits made towards the account | The minimum and maximum deposit that can be made in an account in a financial year is Rs.500 and Rs.1.5 lakh, respectively. The deposits can be made in multiples of 100. |
| Duration of the scheme | Deposits towards the scheme should be made for a period of 15 years. However, the scheme matures after 21 years. |
| Transfer of account | An SSY account can be transferred from post offices to banks and vice versa anywhere within India. No charges will be levied for the transfer of the account. However, a proof for change in residence must be produced. In case no proof is produced, a Rs.100 charge will be levied. |
| Mode of deposits | Deposits towards the account can be made in the form of online transfer, demand draft, cheque, or cash. |
