This is a small savings scheme which allows you to do small savings for your daughter little by little. You can start the account just by putting a small account in it.
New Delhi: If you want to make your daughter future secure and safe, then Post Office’s Sukanya Samriddhi Scheme is a good option for you. There are lots of benefits you and eventually your daughter will get just by opening the account under the scheme.
The scheme has been designed to keep daughters in the mind. This is a small savings scheme which allows you to do small savings for your daughter little by little. You can start the account just by putting a small account in it. The scheme has been started by the Government in 2014. It’s 100% risk free and you can also save income tax via this scheme.
Read More: Home Loan Interest Rate 2022: SBI vs HDFC vs ICICI vs PNB housing loan rates compared
Let’s understand the scheme in detail:
You can get 7.6% return
The scheme offers 7.6% return. However, the interest has been fixed at every quarter so it can fluctuate up and down. But it doesn’t dip below 7%. The interest will be credited in the account at the end of every financial year.
How much you can invest in it
You can start the account by investing a mere Rs 250 annually under the scheme. And the maximum amount you can put each year is Rs 1.5 lakh. If you don’t deposit the minimum amount as set by the start of the scheme, you will be charged Rs 50 penalty will be imposed next month.
Read More: 7th Pay Commission: Government employees to receive 18-month DA arrears soon
Who can open the account?
The parents and guardians can open the account of a minor girl which is under 10 years. It should be opened with the name of daughter and you can open for two daughters for a single house.
When can you withdraw money?
When your daughter turns 18-years-old, then she can withdraw the accrued amount. Remember the money can’t be withdrawn before that. The account becomes mature when she turns 21. However, in case your daughter dies before the maturity, the account will be closed and parent/guardians will get the money.
