All you need to know about the Sukanya Samriddhi Yojana Scheme

Sukanya Samridhdhi Yojna is a small deposit scheme in India introduced by the government to meet the educational and marriage expenses of girl children. The scheme provides income-tax benefit and has an interesting structure that can help create a substantial corpus for your daughter's future. Here's what you need to know about the scheme and how you can benefit from it.

Understanding Sukanya Samridhdhi Yojna

Launched in January 2015 as part of the 'Beti Bachao, Beti Padhao' campaign, Sukanya Samridhdhi Yojna is unequivocally designed to empower the girl child. The scheme allows parents or legal guardians to open an account in the name of their girl child. You can start investing with a minimum amount of INR 250 and reach a maximum up to INR 1.5 lakh in a single financial year.

The Benefits of Sukanya Samridhdhi Yojna

The scheme not only promotes the wellbeing and educational upliftment of the girl child, but also offers a range of financial benefits. One of the standout features of this scheme is its impressive interest rate. Offering an attractive return of 8.5%, Sukanya Samriddhi Yojana's interest rates are much higher than other saving schemes. In addition, the returns are completely exempt from income tax under Section 80C of Income Tax Act.

How to Open a Sukanya Samriddhi Account

A Sukanya Samriddhi account can be opened at any post office or authorized commercial bank. The account can be opened from the time of the girl child's birth until she attains the age of 10 years. A minimum of INR 250 and a maximum of INR 1.5 lakh can be deposited in a fiscal year, and the account remains operative for 21 years from the date of opening.

Sukanya Samriddhi Yojna is a commendable initiative from the Government of India to uplift the vulnerable segment of girl children. With high interest rates and tax benefits, it is one of the best ways to secure your daughter's future. Embrace this scheme and take a step towards ensuring a bright, promising future for your daughter.