Sukanya Samriddhi New Interest Rate: Narendra Modi has released a new scheme named Sukanya Samriddhi Yojana 2022. Under PM Sukanya Samriddhi Yojana, the amount can be deposited in any bank account and post office. The main objective of investment under this scheme is better education and marriage of girls. Here we provide complete information about it.
The parents can operate the SSY account till the girl child completes the age of 10 years. And after the age of 18, the girl has to operate the account. The minimum amount that can be deposited in the account is Rs. 500 per financial year and maximum Rs 1.50 lakh in a financial year deposit can be made for a period of 15 years, but the maturity period is 21 years. SSY account can be transferred from post office to bank and vice versa.
Sukanya Samriddhi New Interest Rate
Sukanya Samriddhi Yojana (SSY) provides 8.4% interest for the individual, which is higher than other bank interest rates. Sukanya Samriddhi Yojana Account can be opened in HDFC Bank, ICICI Bank, PNB Bank, SBI Bank etc. The interest rate available under SSY varies from year to year and the interest rate changes. can be done by the government.
Eligibility Criteria
Under this scheme (Sukanya Samriddhi Yojana), the parents are required to invest some amount in the SSY account, so that this amount can be used when she gets married or has to educate her. Here are some of the eligibility criteria that need to be fulfilled: –
- SSY account can be opened by the parent or legal guardian on behalf of the girl child.
- The child must be an Indian citizen.
- Multiple accounts cannot be opened.
- Maximum two accounts are allowed in a family i.e. one for each girl child.
- The account can be opened till the child reaches the age of 10 years. Account can be deposited till the age of 14 years from the date of opening of the account.
- The account can be opened with an amount of Rs 250 and after that the parent can deposit in multiples of Rs 100.
Documents required
- Birth certificate of the girl child at the time of opening the account.
- ID proof and address proof of parent or legal guardian.
- Any other document which is required to be provided under SSY account.
Sukanya Samriddhi Yojana (SSY) – Tax Benefits
The depositor can get up to Rs 1.50 lakh as tax benefit under Section 80C of the Income Tax Act, 1961.
Interest is also exempted under the Income Tax Act. SSY ( Sukanya Samriddhi Yojana ) tax benefits are also available for maturity amount or withdrawal amount.
Withdrawal under Sukanya Samriddhi Yojana 2022
For higher education, 50% of the amount in the account can be withdrawn after the girl child attains the age of 18 years. Once the maturity period is over, the girl child can withdraw the entire amount.
Also know :- PMJJBY Scheme Details, Benefits, Age Limit And Get Free Insurance
