1. News

Sukanya Samridhi Yojana: Make Your Daughter Millionaire by Investing Just Rs. 250 in a Year through This Scheme

Pronami Chetia
Pronami Chetia
girl child
Girl Child

Government has been initiating different schemes to empower women and girl child. Moreover, daughters are the pride of all our homes. The courtyard blossoms with their happiness.

The Government of India has started celebrating National Girl Child Day since 2008. So, if you have a small girl in your house, then you can avail the benefit this wonderful scheme of Government of India.

This government scheme is beneficial for all including the farming community. Hence, farmers must take benefit of this yojana, as it will secure their daughters life.

Sukanya Samriddhi Yojana

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. 

This scheme is designed keeping in mind the safe future of daughters. Sukanya Samriddhi Accounts is the highest return scheme of the post office.

The current interest rate on Sukanya scheme is 7.6 percent. Not much interest is found in any post office scheme. Apart from the post office, this scheme can be availed under government, private bank and other government scheme.

The special thing about this scheme is that its maturity is 21 years, but the parent has to invest only 14 years in it.

You just need Rs. 250 to Open A Sukanya Samridhi Account

You will get three times of profit on maturity. Through this scheme, up to Rs 64 lakh can be raised at the rate of 7.6% per annum. Sukanya Samriddhi Yojana was started in 2014 to promote girls' education. The purpose of this scheme is to easily meet the expenses of the daughters' education and their wedding.

How to Open Sukanya Samriddhi Yojana Account?

To open accounts, go to the post office and take the form. For this, the daughter's birth certificate is necessary. ID proof of the parent will also be required. In which PAN card, ration card, driving license, passport can be attached with any documents. Parents will also have to submit documents for address proof. In this also, driving license, passport, electricity bill or ration card is valid.

After verification of your documents from the bank or post office, your account will be opened. After the account is opened, passbook is also given to the account holder. A minimum of 250 rupees can be deposited annually in Sukanya Samriddhi Yojana.Earlier, the annual monthly deposit was Rs 1000. A minimum of Rs 250 and a maximum of Rs 1.50 lakh can be deposited annually under the scheme.

Will get three times the profits At present the interest rate on Sukanya Samriddhi Yojana is 7.6 percent. It will have to deposit Rs 1.50 lakh annually. If these interest rates remain and for 14 years, you deposit Rs 1.50 lakh annually every month. So for 14 years, the total contribution from you on an annual investment of Rs 1.50 lakh will be Rs 21 lakh.

From what age can daughter operate the account

The daughter was previously allowed to operate the account from the age of 10, but according to the new rules, the daughter can operate the account only when she is 18 years old. Till then the parent will operate the account. After the daughter is 18 years old, the necessary documents have to be submitted in the bank / post office where the account is open.

When can you withdraw money?

You cannot withdraw money before the daughter turns 18. The account becomes mature when he is 21 years old. After the daughter completes 18 years, you get partial withdrawal. Meaning you can withdraw up to 50 percent of the amount deposited in the account. Unfortunately if the child dies then the account will be closed immediately. In such a case, the amount lying in the account is given to the guardian.

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 Samriddhi Yojana Account on normal days is only 10 years. 

Up to Rs 1,50,000 can be invested in Sukanya Samriddhi account 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.

Like this article?

Hey! I am Pronami Chetia. Did you liked this article and have suggestions to improve this article? Mail me your suggestions and feedback.

Share your comments

Subscribe to our Newsletter. You choose the topics of your interest and we'll send you handpicked news and latest updates based on your choice.

Subscribe Newsletters