If you’re considering investing in your daughter’s promising future, the Sukanya Samriddhi Yojana is definitely worth your attention. This scheme has gained popularity for securing a bright future for daughters. Upon maturity, your daughter could receive a substantial amount, which can significantly aid in her education or marriage. It’s important to note that the rules for the Sukanya Samriddhi Yojana changed in October, so if you have an account, be sure to read this article thoroughly.
Updates on SSY
Under the new regulations, only parents or legal guardians are permitted to manage the Sukanya account. If someone who is not a legal guardian opened your daughter’s account, it’s crucial to transfer it to the rightful guardian as soon as possible to avoid the risk of account closure.
Key Information
Launched by Narendra Modi in 2015 as part of the Beti Padhao Beti Bachao initiative, the Sukanya Samriddhi Yojana is part of the Small Savings Scheme. This program allows parents or guardians to invest for their daughters’ futures, with the government providing attractive interest rates. The scheme matures when the daughter reaches 21 years of age, making it a solid long-term investment option. With this scheme, your daughter has the potential to become a millionaire.
Advantages of Sukanya Samriddhi Yojana
1. You can invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh each year in this scheme.
2. The Sukanya Samriddhi Yojana provides tax benefits of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
3. There is a facility for early withdrawal if necessary, even before maturity.
4. You can open a Sukanya account for each of your daughters if you wish.
