| Investment Amount | Minimum Rs 250 and Maximum Rs 150000 in one financial year. |
| Present Interest Rate | 8% Per Annum |
| Maturity Value | Maturity Value varies depending on the amount you invest. You can check using our Sukanya Samriddhi Yojana Calculator. |
| Maturity Duration | 21 years from the date of investment( You need to invest only 15 years) |
Benefits of Sukanya Samriddhi Yojana: Nurturing Dreams with Financial Security
Sukanya Samriddhi Yojana is more than just a savings scheme; it’s a steadfast commitment towards your daughter’s financial independence. Here, the benefits are multi-faceted, encompassing not only financial growth but also safeguarding her dreams:
Attractive Interest Rates: The scheme offers interest rates higher than many traditional savings avenues, contributing to substantial corpus growth over time.
Tax Benefits: SSY deposits enjoy the privilege of tax deduction under Section 80-C, reducing your taxable income and fostering a culture of systematic savings.
Secured Future: SSY nurtures a long-term financial cushion, catering to your girl child’s educational aspirations, marriage plans, and more.
Flexible Contributions: The scheme accommodates varying financial capacities, enabling you to contribute any amount between ₹250 and ₹1.5 lakh per annum.
Empowerment through Compounding: The magic of compounding amplifies the growth of your investments, ensuring a secure future for your daughter.
Tax Benefits of SSY: A Dual Advantage for Savvy Investors
One of the most compelling aspects of Sukanya Samriddhi Yojana is its tax benefits, designed to empower families and encourage meaningful savings:
Tax Deduction under Section 80-C: The deposits made towards SSY are eligible for tax deduction, reducing your taxable income by the invested amount.
Earnings Exempt from Tax: The interest earned on your SSY investment is exempt from income tax, enhancing your overall returns.
Dual Tax Benefit: The combination of deduction on deposits and tax exemption on interest creates a dual advantage, easing the financial burden.
SSY Account Eligibility: Enabling a Brighter Future for Your Girl Child
The SSY account is a bridge to a secure future for your girl child, with eligibility criteria that foster inclusivity:
Age Limit: The account can be opened for a girl child aged below 10 years, ensuring a long-term growth trajectory.
Single Account: Only one SSY account can be opened for a girl child, maintaining focus and efficiency in financial planning.
Parental Authority: Parents or guardians can open the account, channeling their commitment towards their daughter’s financial well-being.
Documents Required for SSY: Laying the Foundation for a Secure Future
Opening an SSY account requires specific documentation, ensuring a smooth and transparent process:
Birth Certificate: A valid birth certificate serves as proof of the girl child’s age and is crucial for account initiation.
Identity Proof: The parent or guardian’s identity proof, such as PAN card, Aadhaar card, or passport, is necessary for authentication.
Residence Proof: A document verifying the parent or guardian’s residential address is essential for establishing credibility.
Passport-size Photographs: Passport-size photographs of the girl child and the parent/guardian are necessary for account registration.
As you embark on this journey with Sukanya Samriddhi Yojana, remember that it’s not just a financial investment; it’s an investment in your daughter’s dreams, aspirations, and a secure future. Through the benefits, tax advantages, eligibility criteria, and required documents, SSY becomes a powerful tool to shape a bright financial future for your beloved girl child.