If you are looking for a safe and trusted savings scheme, in which good interest is available and there is also a tax savings, then Sukanya Samriddhi Yojana (SSY) can be the best option for you. While schemes like Public Provident Fund (PPF) and National Saving Certificate (NSC) are popular among the people, now this scheme of the government is now paying 8.2% annual interest, which is the highest interest rate in all small savings schemes.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a savings scheme launched by the Government of India keeping in mind the bright future of daughters. The purpose of this scheme is to help the girl meet the big needs related to education and marriage. Under this scheme, an account can be opened in the name of a girl under 10 years of age. The account can open his parents or legal parents.
How much can you invest?
In this scheme, you can deposit from ₹ 250 to ₹ 1.5 lakh annually. This means that this scheme is perfectly suitable for those who save from small levels to large levels. The amount invested in it gets 8.2%annual interest, which is more than PPF (7.1%) and NSC (7.7%).
When will you get money and how?
The maturity period of this scheme is 21 years, which is counted from the date of opening the account. However, after the age of 18 years of the daughter, her higher education or partial withdrawal for marriage is allowed. If the daughter is married after 18 years, the account can be closed ahead of time.
Interest rate stable, returns spectacular
Recently, the Finance Ministry has announced that the interest rate of the scheme for the third quarter (October-December) of FY 2025-26 has been kept stable at 8.2%. This means that this scheme is currently providing the highest interest in all government small savings schemes.
Number one in tax savings also
Sukanya Samriddhi Yojana comes in the EEE category. This means that the amount deposited in it, interest on it and the entire amount received on maturity are completely tax free. Under this, you can avail tax exemption of up to ₹ 1.5 lakh under Section 80C on investment amount made every year.
Where to open the account?
You can open this account in Post Office, State Bank of India (SBI), HDFC, ICICI, and other authorized banks. It can also be easily transferred from one state to another to post office.