Sukanya Samriddhi Yojana
sukanya samriddhi yojana 2022 girl child saving scheme 2021 new interest rates sukanya samriddhi yojana scheme for girls 8% 8.5% 21 years 250rs. -1.25 lakh ssy Documents Required
Sukanya Samriddhi Yojana 2022 Application Form
Good News !! The government has decided not to change the interest rates of small savings schemes for the quarter (January-March 2022) of the financial year 2022-23. The interest rate in Sukanya Samriddhi Account Scheme will remain 7.6%. Stay connected with us for more information…..
The Central Government has started a special deposit scheme named Sukanya Samriddhi Yojana on 4th December 2014 for the purpose of making small savings for daughters. This scheme is only for girls. This scheme is completely free from income tax. The interest rate available in this plan is also good. Through this scheme, small amount can be deposited in the name of daughters and this money can be used for their marriage, education etc.
Check Nari Tu Narayani Scheme Nari Tu Narayani Scheme Online Application Form
Sukanya Samriddhi Yojana is a small savings scheme for daughters started by the Central Government, which has been launched under the Beti Bachao Beti Padhao campaign. Sukanya is the best interest rate scheme among small savings scheme. In the year 2016-2017, the best interest rate was being given in this scheme at the rate of 9.1% which is with exemption of income tax. Earlier, up to 9.2 percent interest has been received in this scheme. This small savings scheme is mainly for those families who want to deposit small savings for their daughter’s education and marriage. SSY is a very good scheme for those people who have low income and who do not believe in investing money in the stock market. This plan has fixed income as well as protection of capital is the specialty of this plan.
sukanya samriddhi yojana 2022
How to open an SSY account
Under Sukanya Samriddhi Yojana, the account of any girl child can be opened whose age is less than 10 years. This account can be opened by the girl’s parents or legal guardian. Only one parent can open an account in the name of two daughters.
The amount required to open an account
The account under Sukanya Samriddhi Yojana could be opened initially with Rs 1000. But now the account can be opened with Rs.250 as well. In this account, from Rs 250 to 1.50 lakh can be deposited annually. The amount has to be deposited in this account only for 14 years.
Where can I open an account?
Under Sukanya Samriddhi Yojana, the account for daughters can be opened in any bank or post office.
How long will the account last?
The account under Sukanya Samriddhi Yojana can be operated till the child turns 21. When the daughter turns 18, the parents can withdraw up to 50% of the amount if needed.
Rules for opening Sukanya Samriddhi Account
Sukanya Samriddhi Yojana can be opened in the name of the girl child by the parents or legal guardian of the girl child before she attains the age of 10 years. According to this rule, only one account of a girl child can be opened.
Documents required for Sukanya Samriddhi Yojana
While opening the account under Sukanya Samriddhi Yojana, it is mandatory to submit the birth certificate of the girl child to the bank or post office. Along with this, it is also necessary to provide the identity card and residence certificate of the parents of the girl child.
When the amount could not be deposited in the account under Sukanya Samriddhi Yojana
If you are not able to deposit the amount in the SSY account, then the account of the girl child will be closed. But there is no need to worry, you can get this account re-opened and regularized by just paying a penalty of Rs 50. If the penalty is not paid, then the interest will be equal to the account, which is currently around 4%.
how to deposit amount
Under Sukanya Samriddhi Yojana, the amount is accepted by the bank in cash, cheque, demand draft or bank to bank transfer etc. For this, it is necessary to write the name of the depositor and the name of the account holder. Money can also be sent to this account through electronic transfer mode. If the amount paid by check or draft is cleared in the account, interest will be given on it. Whereas in case of electronic transfer, the calculation will be done from the day of deposit.
Can get 50 lakh rupees
Under Sukanya Samriddhi Yojana, if you deposit 1 lakh rupees annually in your daughter’s account, then 14 lakh rupees will be deposited for the next 14 years. In such a situation, when this account matures after 21 years, then your investment will be around 50 lakh rupees.
The government fixes the interest rate on SSY every quarter. The interest paid so far in this scheme is as follows:-
- 1 April 2014: 9.1%
- 1 April 2015: 9.2%
- 1 April 2016 – 30 June 2016 : 8.6%
- 1 July 2016 – 30 September 2016 : 8.6%
- 1 October 2016 – 31 December 2017 : 8.3%
- 1 January 2018 – 31 March 2018 : 8.1%
- 1 April 2018 – 30 June 2018 : 8.1%
- 1 July 2018 – 30 September 2018 : 8.1%
- 1 October 2018 – 31 December 2018 : 8.5%
- 1 January 2019 – 31 March 2019 : 8.5%
tax exemption
Accounts opened under Sukanya Samriddhi Yojana will be exempted from tax. The account opened under this scheme will get exemption under section 80-G of the Income Tax Department.
Lump-sum deposit not required
Under Sukanya Samriddhi Yojana, you can deposit money in the account at once or little by little. This means that either you can deposit money every month or quarter or whenever you have the money.
The scheme closed after daughter completes 21 years
You can stop this scheme after your daughter completes 21 years. Thereafter it will mature and the deposit amount will be paid to the girl child in whose name the account has been opened.
The account can be closed before maturity
If the SSY account holder dies, then the account can be closed by showing the death certificate. After this, the amount deposited in the SSY account can be given back to the guardian of the girl child with interest. In other cases, the SSY account can be closed after five years from the date of opening. It can also be done in many circumstances, such as in the case of life-threatening diseases. Even after this, if the SSY account is being closed for any other reason, then it can be allowed, but the interest on it will be according to the savings account.
Conditions for SSY Account
- If the account holder gets married before the completion of 21 years of account opening, then the amount cannot be deposited in the account.
- If the account is being closed before the completion of 21 years, then the account holder will have to give an affidavit that his age is not less than 18 years at the time of closing the account. The deposit amount along with interest will be returned to the account holder on production of passbook and withdrawal slip at the time of maturity.
- Under SSY, the account can be opened only of an Indian citizen, who is residing here and is also living there at the time of maturity. Non-resident Indians cannot open an account in SSY. If the girl child goes to another country after opening the account and takes citizenship there, then the interest on the amount deposited in the SSY account will stop from the day of taking citizenship.
Click here to visit the official website of Sukanya Samriddhi Yojana