New Delhi: If you want to make a lot of money with no risk, the central government has a terrific scheme for you: Sukanya Samriddhi Yojana, or SSY. You will be able to save for your daughter’s future as well as save money on taxes if you invest in this scheme. You can also earn from this strategy by saving just Re 1 per day. So, let’s get the word out.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana (SSY) is a central government small savings scheme that was created under the ‘Beti Bachao Beti Padhao’ scheme. In the list of modest savings schemes, Sukanya has the best interest rate. This account can be started for as little as Rs.250. This means that you can benefit from this scheme even if you only save 1 rupee per day. Make a minimum deposit of Rs 250 in each financial year. It’s worth noting that you can’t deposit more than Rs 1.5 lakh in a single financial year or multiple times in an SSY account.
Interest at the rate of 7.6 per cent
You were given interest at a rate of 7.6 percent under this scheme (Sukanya Samriddhi Account). It is in the form of a tax exemption. Interest rates as high as 9.2 percent have been obtained in the past. Not only that, but beyond the age of eight, up to half of the money can be withdrawn for expenses related to the daughter’s higher education. Interest is now paid in SSY at a rate of 7.6%, with income tax exemption. If you are concerned about the future of your loved one in this situation, take advantage of this scheme right away.
How to open an account?
Sukanya Samriddhi Yojana allows you to open an account at any recognised post office or commercial branch. The account can be started with a minimum deposit of Rs 250 after the birth of the girl child before the age of ten years. In the current financial year, the maximum amount that can be deposited under the Sukanya Samriddhi Yojana is Rs 1.5 lakh. It is worth noting that after starting a Sukanya Samriddhi Yojana account, the girl child can continue to run it until she reaches the age of 21 or until she marries.