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Sukanya Samriddhi Yojana 2020: Know the New Guidelines, Interest Rate & Online Payment

Pronami Chetia
Pronami Chetia

The Sukanya Samriddhi Scheme is a popular scheme run by the government of India which designed to provide a bright future for the girl child. This scheme has gained popularity in the past few years due to its better returns. Moreover, it offers a high-interest rate of 7.6% and tax benefits under 80c. 

But recently, the Union Finance Ministry has changed many of its provisions. Hence, you need to know the changes to avail the benefit. Currently, this scheme offers 7.6 per cent return, which is better than the return on investment in any scheme. 

What are the new Rules for Sukanya Samridhi Yojana? 

  • Sukanya Samriddhi Yojana account can be opened for daughter up to 10 years old. But the Indian government has given some relaxation in this age limit during this lockdown period imposed due to coronavirus.  

  • According to this, if your daughter has grown up to 10 years old from 25 March 2020 to 30 June 2020 and you could not open her account due to lockdown, then you have another chance. The government has given an opportunity for such people to open an account by 31st July 2020.   

  • This relief has been given only to those who could not open the account due to lockdown. The age limit to open Sukanya SamriddhiYojana Account on normal days is only 10 years. 

  • Up to Rs 1,50,000 can be invested in Sukanya Samriddhiaccount in a financial year. You can put this money in this account in several instalments. 

  • In this scheme, you will have to invest for 15 consecutive years. Partial withdrawal can be done from this account for marriage when the daughter is 18 years old. Apart from this, the account can be closed after the daughter's age is 21 years.

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