Every parent hopes that their daughter would advance academically, be self-sufficient, and not become a financial burden when she marries. Prime Minister Narendra Modi launched the Sukanya Samridhi Yojana in 2015 as part of the Beti Bachao, Beti Padhao campaign in an effort to realize these aspirations. This program’s goal is to give daughters a way to safely save money so that they won’t run out of funds for their future marriage and further education.
Post office has become the first choice Sukanya Samriddhi Yojana people
People still prefer the post office even though they can open this account at either a bank or the post office. The report indicates that over 3 crore 61 lakh accounts have been opened nationwide thus far. In Uttar Pradesh alone, there are over 48 lakh active accounts, of which roughly 40 lakh are run through the post office. For the average person, this convenience and trust make it even more unique.
Big future from small savings
This scheme’s unique feature is that no family experiences financial strain. The account can receive deposits of at least Rs 250 and up to Rs 1.5 lakh annually. In other words, your daughter future can be strengthened by even a small act of kindness. Following a 15-year deposit, the full amount is transferred to the daughter’s name after 21 years have passed.
Attractive interest and tax benefits
The interest Sukanya Samriddhi Yojana offers is another unique feature. It now offers an annual interest rate of 8.2%, which is far greater than that of any other secure savings plan. In addition, Section 80C of the Income Tax Act offers tax exemption on the sum placed in this plan. In other words, this plan is a fantastic choice for both tax planning and saving money.
Helpful in education and marriage
This scheme’s versatility is its greatest asset. Up to 50% of the total can be taken out of the account for the daughter’s education when she turns 18. The account may be fully closed at marriage, and the daughter may get the whole amount of the funds. The daughter feels financially secure to pursue her aspirations, and the parents also have mental serenity as a result.
Disclaimer: This article is written for informational purposes only. All the figures and details mentioned in it are based on government and official sources. Before making any investment or opening an account, be sure to get complete information from the official website or nearest post office/bank.
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