What is Sukanya Samriddhi Yojana?
Sukanya Yojana was launched with the aim for the welfare of a girl child. This is one of the most popular welcome steps that has been taken by the Government to change the mindset towards the girl child and reduces the financial burden from their parents. As per the scheme a parent can deposit up to 1.5 lakh for her daughter a year. However, there is no restriction on the amount which is deposited in a month. A parent can withdraw invested amount when her daughter turns 21 years old from the date of opening an account. But, one of the biggest advantages of Sukanya Samriddhi Yojana is that a parent can withdraw amount between the maturity period like when their girl turns 18 years old to financially support her.
Sukanya Samriddhi Yojana Details
For more understanding this Child Insurance Plan, we have listed some important guidelines that inspire you to open an account for her better future:
- Sukanay Samriddhi Interest Rate is 8.1 % fixed.
- Monthly installment you have to pay on the 1st day of every month and if you pay yearly you have to make on 1st April of every year.
- No worries, if your daughter gets married before the maturity period, she can withdraw the amount.
- Besides, high financial security to the daughter, the interest rate of this scheme is relatively higher than other schemes.
- You have contributed more than 1.5 lakh.
Sunkanya Samriddhi Account
As mentioned above, the sole purpose of Sukanya Samriddhi Yojana is to give daughters a better life and a secure future and because of this reason, we cannot compare this scheme to any other girl’s policies. Parents can open an account either on the post office or any Nationalized banks and even on private banks like HDFC, ICICI and BOB and so on. Account opening process is same in all financial firms.
To calculate Return on Investment in Sunkanya Samriddhi Account in 14 years you can use Sunkanya Samriddhi Calculator and get complete information on yearly interest and maturity amount.
Sukanya Samridhi Form
Here we listed simple step by step process to open Sukanya Samridhi Account Online
- Head over to the bank website and fill the SSY form online. You can also take this form from your nearest bank branch office.
- Submit all the documents like beneficiary child birth certificate, address proof, and ID proof of parents.
- Contribute the amount from Rs. 250 to 1.5 every month through net banking.
- Thanks for taking an excellent initiative for your daughter’s future.
You May Also like to read: Balika Samridhi Yojana
Sukanya Samridhi Yojana Post Office
Sukanaya Samridhi Yojana is a worthy investment to save money for a girl child from the time she born. The post office Sukanya Yojana Scheme allows parents to open an account on the name of her daughter, not on their name. The minimum amount you can contribute is Rs1000 up to 1.5 lakh as per your affordability. Post office Sukanaya Samridhi Yojana Interest Rate is 8.5% for a current financial year. In order to give support, this scheme Government has made this scheme income tax free. As per the post office policy, a girl must be 10 years old and an account can be terminated when she turns 21.
Sukanya Samridhi Yojana SBI
The Sukanya Samriddhi Scheme SBI can be accessed with minimum amount Rs. 250 to a maximum of Rs. 1.5 lakh a year. However, SBI allows parents to modify the investment amount as per their capabilities. In order to open an account, a must be 14 years old. SBI offers the current interest rate is 8.6%. To withdraw the invested amount a girl’s age should be 21 years. However, SBI gives the flexibility to withdraw 50% amount when a girl turns 18 years. Parents can initiate payment either through net banking or cash/ cheque process. As per the reviews, the withdraw process of this bank is one of the easiest and hassle-free.