Sukanya Samriddhi Yojana (SSY) Scheme: A Secure Investment for Your Daughter’s Future

 


The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to secure the financial future of girl children in India. Launched as part of the Beti Bachao, Beti Padhao campaign, SSY aims to encourage parents to invest in their daughters' education and marriage expenses.


Parents or legal guardians of a girl child aged below 10 years can open an SSY account at any authorized bank or post office. The minimum deposit required is ₹250 per year, with a maximum annual limit of ₹1.5 lakh. The account matures when the girl turns 21, but partial withdrawals are allowed after she reaches 18 for higher education or other needs.


One of the key benefits of the SSY scheme is its attractive interest rate, which is higher than most other government savings schemes. Additionally, contributions made to the SSY account are eligible for tax benefits under Section 80C of the Income Tax Act, and the interest earned and the maturity amount are entirely tax-free.


The SSY scheme not only promotes financial discipline but also helps parents build a substantial corpus over time, ensuring a secure future for their daughters and encouraging their education and empowerment.

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