Sukanya Samriddhi Yojana benefit scheme for the girl child a part of the 'Beti Bachao Beti Padhao' campaign

▴ Beti Bachao Beti Padhao
Sukanya Samriddhi Yojana (SSY) is a benefits scheme for the girl child it started as a part of the 'Beti Bachao Beti Padhao' campaign.

Sukanya Samriddhi Yojana (SSY) is a benefits scheme for the girl child it started as a part of the 'Beti Bachao Beti Padhao' campaign. Parents of a girl child can deposit into the bank. It is currently 8.1 % and gives benefits of income-tax under section 80 C of the Income Tax Act, 1961. Also, this scheme is the return of tax-free.

An account can be opened for a Sukanya Samriddhi at any time after the girl's birth till she turns 10, by a minimum deposit of Rs 250 (Earlier it obtained Rs 1,000). In succeeding years, Rs 250 minimum and maximum Rs 1.5 lakh can be saved during the ongoing financial year.

Also, you can open an account in any post office or approved branches of commercial banks.

A Sukanya Samriddhi account will remain useful for 21 years from the date of opening or till the girl's marriage after she turns 18. To reach her higher education expenses requirement, partial withdrawal of 50 percent of the balance is released after she turns 18.

What is the Interest Rate of Sukanya Samriddhi Yojana?

Interest Rate: Investment in the Sukanya Samriddhi scheme retrieves interest at the rate of 8.5 percent every year is calculated and compounded every year, according to the India Post website.

Who is Eligible for Sukanya Samriddhi Yojana?

The eligibility criteria for the girl child that require to be met are: only girl children can avail Sukanya Samriddhi Yojana benefits under the saving scheme. Sukanya Samriddhi Account to be eligible for open a girl child the maximum age should not be more than (10) years. However, one year is allowed for a grace period.

What is Sukanya Samriddhi Yojana? Benefits of Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana is a girl child little deposit scheme of the Government of India intended particularly for a girl child and it was started as a name for Beti Bachao Beti Padhao Campaign. There are many benefits of Sukanya Samriddhi Yojana under the Government of India's Beti Bachao Beti Padhao" To encourage people to open an account for Sukanya Samriddhi, Govt has exempted contribution to the account under section 80C of the Income Tax Act, 1961.

An account holder of Sukanya Samriddhi can withdraw up to 50 percent of the total savings for filling the marriage purpose or his/her girl child higher education.  After that, if the account is not closed, the Sukanya Samriddhi account holder would receive interest on her savings/balance as defined in the scheme.

What is The Maturity Amount of Sukanya Samriddhi Account?

The maturity duration of the Sukanya Samriddhi Account is 21 years, and funds can only be withdrawn after reaching 18 years of age. Interest Rate- At present (FY 2018-19) Sukanya Samriddhi Account offers an interest rate of 8.6% per annum.

Which bank is best for the Sukanya samriddhi account?

The Reserve Bank of India has allowed the following banks for opening the account for Sukanya Samriddhi Yojana (SSY).

Axis Bank.

Andhra Bank.

Allahabad Bank.

State Bank of India (SBI)

Bank of Maharashtra (BOM)

Bank of India (BOI)

Bank of Baroda (BOB)

State Bank of Patiala (SBP) and much more?

What Documents are required for Sukanya Samriddh Yojana?

Documents are required to open an account for Sukanya Samriddhi Yojana: *Account Opening Form of Sukanya Samriddhi Yojana. You will have to need the girl childbirth certificate for the account beneficiary.  The depositor (parent or legal guardian) Identity proof, i.e., ration card, PAN card, passport, driving license. And as per Supreme Court verdict, any Government Welfare Scheme needs Aadhar number, Aadhaar card compulsory in if you go to SBI to open a Sukanya Samriddhi Yojana Account. You can go with the Birth Certificate, address proof of GuardianFeature Articles, ID proof.

How Much Money Can Be Deposited in Sukanya Yojana?

The maximum and minimum amount at least 1000 rupees has to be deposited per year and the maximum Rs. 1.5 lakh for the Sukanya Samriddhi Account and there are no limits on the number of deposits either in a month or in the year of the economy.

Tags : #sukanyasamriddhiyojana #scheme #girlchild #campaign #medicircle

About the Author

Team Medicircle

Related Stories

Loading Please wait...

Trending Now

PM addresses the Nation today, announces free vaccinesJune 07, 2021
Why inhalers are best for treating asthma, well illustrated by Dr. Anil SingalMay 12, 2021
Dr. Rohan Palshetkar shares his invaluable insights about the Maternal Mortality Rate causes and improvements in India April 29, 2021
It is important to adopt a non-judgmental attitude towards any teenage girl seeking contraceptive advise suggests Dr. Teena Trivedi, Obstetrician and GynecologistApril 16, 2021
80% of the diseases are psychosomatic which means they have roots in the mind and this is where homeopathy steps in - It resolves physical ailments by finding the cause in the mind – Dr. Sanket Dhuri, Consultant Homeopath April 14, 2021
A futuristic Vision of a Healthcare Entrepreneur: Shyatto Raha, CEO, and Founder of MyHealthcareApril 12, 2021
Saher Mehdi, Founder and Chief Scientist at wellOwise talks about aspects making healthcare more equitable and reachableApril 10, 2021
Wide variety of therapies to address autism in children explained by Dr. Shilpa Jasubhai, Clinical PsychologistApril 09, 2021
Allopathic and Homeopathic medicines should not be taken together says Dr. Sunil Mehra, Homeopath ConsultantApril 08, 2021
The charm of homeopathic medicine is that it can be taken with conventional medicines – Dr. Shruthi Shridhar, Consulting Homeopath April 08, 2021
Dissociative Identity Disorder and associated concepts explained by Dr. Vinod Kumar, Psychiatrist and Head of Mpower - The Centre (Bangalore) April 07, 2021
Dissociative Identity Disorder explained by Dr. Shilpa Jasubhai, Clinical PsychologistApril 05, 2021
Sehat Ki Baat, Karishma Ke Saath- Episode 6 Healthy Diet For Boosting Metabolism Which Can Help Thyroid Patients April 03, 2021
Significant Pointers on Kidney Health by Dr. Santosh Waigankar, Consultant Urooncologist and Robotic Surgeon at Kokilaben Dhirubhai Ambani HospitalApril 01, 2021
Dr. Vaishal Kenia, Ophthalmologist Talks About the Different Possibilities Available for the Treatment of Glaucoma Depending Upon Their Type and SeverityMarch 30, 2021
No Definitive Role of Diet in Treatment of Lymphedema but Intake of Calories, Salt and Long Chain Fatty Acids should be controlled says Dr. Ramani CVMarch 30, 2021
Dr. Kiran Chandra Patro, Senior Nephrologist Talks About Dialysis as the Temporary Process and Not a Permanent Cure for the Patients of Renal DysfunctionMarch 30, 2021
Two out of three new chronic kidney disease patients are found to have diabetes or hypertension informs Dr. Sreeharsha HarinathaMarch 30, 2021
Glaucoma Treatment: Medications or Surgery? A valuable piece of advice from Dr. Pranay Kapdia, Chairman and Medical Director of Kapadia Eye CareMarch 25, 2021
Dr. Shraddha Satav, Consultant Ophthalmologist Recommends that Everybody After 40, Should Go for the Complete Eye Checkup at Regular IntervalMarch 25, 2021