Sukanya Samriddhi Yojana
It is said that greater savings must be made if a girl is born. The money saved will be used to buy gold for the wedding, but not now. The Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana) Scheme has been developed by the Central Government to fund girl marriage.
It is noteworthy that this scheme is meant for girls only.
It was launched by the Government of India in 2015 as part of the ‘Beti Bachao Beti Padao’ program, especially for girls. This is a long-term savings plan. Higher education provides financial security for the girl’s future, as well as support during marriage.
The project expires when a young woman reaches the age of 21, according to the newly introduced marriage age. The Sukanya Prosperity Project is a savings plan designed to help meet all the education and marriage needs that come from doing so.
The fixed amount deducted from the beginning of the project to the closing period is up to Rs.71 lakh at the time of closing the account. With such a large sum, government taxes will be cut. There is no such problem in this scheme.
Who deserves it?
The Sukanya Samurdhi Scheme can be opened at any time up to 10 years from the birth of a female calf. But she must be an Indian citizen. Only then will you be able to take advantage of this account.
Parents can only open two accounts. Infants born to second-born twins or third children are allowed to open a third account. Medical records must be submitted for this. This account can also be opened in the name of the adopted girl. One cannot take two accounts. The girl can manage the account herself from the age of ten.
Personal Identity Card, Address Identity Documents and Birth Certificate The Sukanya Samurdhi account cannot be opened online. Currently, banks and post offices do not offer this facility.
Sukanya Prosperity Account Maturity 21 years. For example: If you open an account at age 8, the maturity is completed when the girl reaches 29 years of age. After completing 18 years, the girl was able to withdraw money from the Sukanya Prosperity Account.
Savings, Investment ..
- The financial year is April 1 to March 31 of the following year.
- Account can be opened at the Post Office for just Rs 250.
- Deposit of at least Rs. 250 per year.
- Maximum Rs 1.5 lakh per annum Do not deposit more than a year in the account.
- Deposit can be made for 14 years from the opening of the account.
- If you have two daughters, the total is Rs. Up to 3 lakhs can be invested.
- Cash can be deposited in cash or check or demand draft (DD) form.
- Deposit can be paid in one time or in installments. Also * how often you can deposit in a month or a financial year.
If the minimum amount is not deposited in the account during the financial year, the account will be treated as a ‘default account’. Rs.50 fine and deposit required to renew the account. If the default account has not been validated for 15 years, the Post Office will attract the interest rate applicable to savings bank accounts on the total deposit in the account at its expiration.
Deposits can be made online by providing appropriate instructions to the bank. In case of financial year Rs. With a deposit of more than Rs 1,50,000, the customer will be able to withdraw the excess at any time. But no interest is paid for the extra amount. Similarly, if the amount is not withdrawn from the account after 21 years, no interest will be paid on that amount.
The government revises interest rates on the Sukanya Samurdhi account every quarter. Currently, the interest rate is 8.4 percent, which is higher than the interest rate on fixed deposits and government projects. Deposits can be made on a monthly or annual basis for a period of 15 years from the date of opening the account. You can withdraw money from the account only after the girl has attained the age of 18 years or in some special cases. However, if you deposit cash in this account before the 10th of each month, you will get one month interest.
Interest on minimum cash is calculated from the end of the 10th of each month. This is why you have to deposit by 10.
The government sets the Sukanya prosperity interest rate so the interest rates are the same no matter what bank you open. If the amount is not withdrawn after maturity, ie after the completion of 21 years, no interest will be paid on it.
Sukanya Prosperity Project Calculator
The Sukanya Samurdhi Scheme receives an interest rate of 8.1% per annum. An annual investment of Rs. 46,800 can be obtained. Similarly Rs. 1,50,000 for a minimum investment of 15 years, after 21 years it will be Rs. 70,20,000 can be earned.
For more details on the Sukanya Prosperity Plan withdrawal, tax, necessary documents and how it applies to NRIs, please contact toll-free number 1800 266 6868. Or you can find out about it through the website.