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Worried about your daughter’s future? From education fees to marriage expenses, financial planning for daughters is a top priority for many parents. To address these concerns, the government offers an excellent scheme—the Sukanya Samriddhi Yojana (SSY)—that provides financial security for your daughter in the future.
What is Sukanya Samriddhi Yojana?
Launched under the Beti Bachao, Beti Padhao initiative, the program aims to support girl child education and marriage. Parents or guardians can start building a savings account for their future by opening an SSY account for their daughters below 10 years of age.
Key Benefits of Sukanya Samriddhi Yojana:
Attractive interest rates: Currently, the scheme offers an interest rate of 8.2 per cent, which is one of the highest for small savings schemes.
Tax benefits: The investment in the scheme is tax deductible under Section 80C of the Income Tax Act.
Flexible investment: A minimum annual investment of Rs 250 and a maximum of Rs 1.5 lakh can be made.
Fair returns: By regularly investing in the scheme, parents can save over Rs 25 lakh over 15 years, ensuring enough money for higher education or marriage.
Mathematical example:
If you open an SSY account for a 5-year-old daughter and deposit Rs 1 lakh annually for 15 years at the current interest rate of 8.2 per cent, you can save around Rs 25 lakh at the end of the period.
How to start investing in the Sukanya Samriddhi Yojana:
1. Visit your nearest post office or bank branch to open an account.
2. Fill out the application form and submit required documents such as your daughter’s birth certificate and ID.
3. Start with an initial investment and continue every year to maximise returns.
Maturity period:
The account matures after 21 years from the date of opening or when the girl gets married after turning 18. Deposits are required only for the first 15 years, while the account continues to earn interest until maturity.
Why choose SSY?
This government-backed scheme is a secure way to plan for your daughter’s education and marriage expenses. With tax benefits, high returns, and guaranteed safety, it’s an ideal choice for parents looking to build a robust financial corpus for their daughters.
Start investing in Sukanya Samriddhi Yojana today and secure a bright and worry-free future for your daughter!
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