Sukanya Samriddhi Yojana: A Unique Savings Scheme for Your Daughter’s Bright Future. What is sukanya yojana 250 per month? What is the 1000 per month in Sukanya Samriddhi Yojana? Which is better, Sukanya or PPF?
What is Sukanya Samriddhi Yojana (SSY)?
Launched by the Government of India in 2015, Sukanya Samriddhi Yojana (SSY) is a special savings scheme under the ‘Beti Bachao, Beti Padhao’ initiative. This scheme helps parents secure their daughter’s financial future by offering high interest rates and tax benefits.
Key Benefits of Sukanya Samriddhi Yojana
✅ High Interest Rate: SSY offers a higher interest rate compared to other savings schemes. ✅ Tax Benefits: This scheme is completely tax-free under Section 80C. ✅ Supports Education & Marriage: The funds accumulated can be used for the higher education and marriage of the daughter. ✅ Low Minimum Investment: You can start with just ₹250 per year. ✅ Government-Backed Security: As a government scheme, the investment is 100% secure.
Eligibility Criteria
✔️ The account can be opened only in the name of the girl child. ✔️ The girl must be below 10 years of age. ✔️ A family can open two SSY accounts (three in case of twin daughters in the second birth). ✔️ The account can be operated by parents or legal guardians.
Interest Rate & Investment Limits
| Details | Information |
|---|---|
| Minimum Investment | ₹250 per year |
| Maximum Investment | ₹1,50,000 per year |
| Current Interest Rate (2024) | 8.2% per annum |
| Maturity Period | 21 years or after daughter turns 18 (for marriage) |
How to Open a Sukanya Samriddhi Account?
The SSY account can be opened in any bank or post office.
Required Documents: 📌 Birth certificate of the girl child 📌 Identity proof of the parent (Aadhaar card, PAN card, Voter ID, etc.) 📌 Address proof of the parent 📌 Passport-size photographs
Steps to Open an SSY Account:
- Visit the nearest bank or post office.
- Fill out the Sukanya Samriddhi Yojana application form.
- Submit the required documents.
- Deposit a minimum amount of ₹250.
- Receive the passbook after account activation.
Deposits & Withdrawals
- Deposits must be made for at least 14 years after opening the account.
- Partial withdrawals are allowed after the girl turns 18 years old for higher education.
- The account matures after 21 years, and the full amount can be withdrawn.
Tax Benefits
SSY falls under the E-E-E (Exempt-Exempt-Exempt) category, meaning:
- Tax deduction on investment amount (under Section 80C)
- No tax on earned interest
- Maturity amount is completely tax-free
Comparison with Other Savings Schemes
| Feature | Sukanya Samriddhi Yojana | PPF | Fixed Deposit (FD) |
|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 6-7% |
| Tax Benefits | Yes (Under 80C) | Yes | Partial |
| Lock-in Period | 21 years | 15 years | 5-10 years |
| Partial Withdrawal | After 18 years | After 7 years | Only in some FD options |
Conclusion
Sukanya Samriddhi Yojana is one of the best savings schemes to secure your daughter’s future. It offers high interest rates, tax benefits, and guaranteed returns. If you have a daughter and want to save for her education and marriage, this scheme is ideal for you.
📢 Open an SSY account today and secure your daughter’s bright future! 🚀