Sukanya Samriddhi Yojana 2023 (SSY) is a savings scheme launched by the Government of India in 2015 as part of the “Beti Bachao, Beti Padhao” campaign. The scheme is targeted towards the girl child and is intended to provide financial security for their education and marriage expenses. The scheme is open to any parent or legal guardian of a girl child who is below 10 years of age at the time of opening the account.
What is Sukanya Samriddhi Yojana
- The scheme can be opened by any parent or legal guardian for a girl child aged below 10 years.
- A minimum deposit of Rs. 250 and maximum of Rs. 1,50,000 in a financial year is required.
- Deposits can be made for a maximum of 14 years from the date of opening the account.
- The account matures when the girl child reaches the age of 21.
- The scheme offers a fixed interest rate, which is determined by the Government of India and is subject to change from time to time.
- The interest earned on the deposits is tax-free under Section 80C of the Income Tax Act.
- The money in the account can be withdrawn for the purpose of education and marriage of the girl child.
- Nomination facility is available at the time of opening of the account.
- Account can be transferred from one place to another within India.
It is a good way to save for the future of your girl child and also provides tax benefits. It is also a good way to save money with a Government of India back scheme which makes it more secure.Top of Form
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In conclusion, Sukanya Samriddhi Yojana is a government-backed savings scheme intended to provide financial security for the girl child’s education and marriage expenses. The scheme offers a tax-free, higher interest rate than most other savings schemes and allows for partial withdrawal for specific expenses. It is a great option for parents or guardians to ensure a secure future for their girl child.