Sukanya Samriddhi Yojana: Secure Your Daughter’s Future with Rs 71 Lakh Savings Plan
The Government of India runs several welfare schemes to empower daughters, and among the most impactful is the Sukanya Samriddhi Yojana (SSY). Launched in January 2015 under the ‘Beti Bachao, Beti Padhao’ initiative, this savings scheme has helped over 4.1 crore families plan a financially secure future for their girl child.
What Makes SSY So Special?
SSY is a small savings scheme with big returns. It offers:
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High Interest Rate: Currently at 8.2% per annum, far higher than most bank fixed deposits.
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Tax Benefits: Up to Rs 1.5 lakh in deductions annually under Section 80C.
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Tax-Free Maturity: Both the interest earned and the final amount on maturity are completely tax-free.
Additionally, it is backed by the Government of India, ensuring your money is 100% safe.
Who Can Open an SSY Account?
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Eligibility: The account can be opened by parents or legal guardians for a girl child up to 10 years old.
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Documents Required: Girl’s birth certificate, along with ID and address proof of the guardian.
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Where to Open: At any bank or post office.
Only one account per girl child is allowed.
How the Scheme Works
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Tenure: Deposit for 15 years, and the account matures when the girl turns 21.
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Partial Withdrawal: Allowed for higher education after the girl turns 18.
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Closure on Marriage: If the girl gets married before 21, the account must be closed at the time of marriage.
Want Rs 71 Lakh for Your Daughter?
If you invest the maximum allowed amount of Rs 1.5 lakh annually for 15 years, here’s how it adds up:
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Total Deposit: Rs 22.5 lakh
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Total Interest Earned: Rs 49.32 lakh
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Maturity Amount at 21: Rs 71,82,119 (all tax-free)
Important Rule Change from October 1, 2024
This scheme not only encourages financial planning for a girl’s education and marriage but also helps build a strong savings habit with assured returns and zero risk. If you haven’t already, this might be the best time to invest in your daughter’s bright and secure future.
