What is Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana is a government-sponsored investment scheme to benefit young girls in India. The scheme was launched in 2015 by the Prime Minister of India, Narendra Modi, with the aim of providing financial security to the girl child and her parents. Under this scheme, parents can open an account in the name of their daughters who are below 10 years of age.
How does the Sukanya Samriddhi Yojana work?
Under the scheme, parents can open an account in their daughter’s name and make regular deposits. The account can be opened from the time the child is born until she turns 10 years old. The account matures when the child turns 21 years old, at which point she can use the funds for her education or marriage.
A minimum deposit of Rs. 1,000 and a maximum deposit of Rs. 1.5 lakhs can be made in a financial year. The account can be opened with any post office or public sector bank. The account matures when the girl reaches the age of 21 years. The scheme offers various benefits such as tax exemption, higher interest rates, and easy loan facilities. It is thus a long-term investment option with high returns. If you are looking for a safe and secure investment option for your daughter, then this scheme is the best option for you.
What is the eligibility for Sukanya Samriddhi YojanaScheme?
The Sukanya Samriddhi Yojana is a long-term investment scheme available only to parents of girl children. The scheme enables parents to save for their daughter’s future educational and marriage expenses. Additionally, to be eligible for the scheme, the account must be opened before the child turns 10 years old. The account can be opened with a minimum deposit of Rs. 1,000, and deposits can be made until the child turns 14 years old. After that, no more deposits can be made into the account.
How to Calculate Interest on Sukanya Samriddhi Yojana Scheme?
To calculate the interest on your Sukanya Samriddhi Yojana account, you will need to know the current interest rate and the balance in your account. The current interest rate is 7.6% per year.
To calculate the interest, simply multiply the current interest rate by the balance in your account. For example, if you have a balance of Rs. 10,000 in your account, the interest would be Rs. 760 for that year.
The Sukanya Samriddhi Yojana scheme is also a great way to save for your daughter’s future. The interest earned is tax-free and the money can be used for her education or marriage expenses. Start saving today to give your daughter a bright future!
What is Sukanya Samriddhi Yojana Calculator?
Sukanya Samriddhi Yojana Calculator is an online tool that helps parents calculate the maturity value of their daughter’s Sukanya Samriddhi account. It takes into account the age of the daughter, the interest rate, and the number of years the account has been active.
The Sukanya Samriddhi Yojana is a government scheme that allows parents to open savings accounts for their daughters. The account offers a high-interest rate and tax benefits, making it an attractive option for parents looking to save for their daughter’s future.
The Sukanya Samriddhi Yojana Calculator is a useful tool for parents who are considering opening a Sukanya Samriddhi account for their daughter. It also helps them to estimate the maturity value of the account. This is based on the current interest rate and the number of years the account will be active.
What are the Benefits of Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana is a government scheme that was launched in 2015 to help parents save for their daughter’s education and marriage. The scheme offers several benefits, including tax breaks and high-interest rates.
- Tax breaks: Contributions to this scheme are exempt from taxes under Section 80C of the Income Tax Act. This can subsequently help you save on your taxes.
- High-interest rates: The scheme offers interest rates that are higher than most other savings schemes. For example, the current interest rate is 8.4% per annum.
- Flexible investment options: You can choose to invest in the scheme for a minimum period of 5 years or for the full duration of 21 years. You also have the option to prematurely withdraw your funds in certain cases, such as for your daughter’s higher education or marriage.
- Secure investment: This scheme is backed by the government, making it a secure investment option.
- Easy to open and manage: The Sukanya Samriddhi Yojana can be easily opened at any post office or authorized bank branch. You can also manage your account online through the MyGov portal.