Home Business Sukanya Samriddhi Yojana: This Diwali Invest Rs 1 Per Day In SSY For Long Term Benefits

Sukanya Samriddhi Yojana: This Diwali Invest Rs 1 Per Day In SSY For Long Term Benefits

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New Delhi: As Diwali festivities are throughout everybody is able to worship Goddess Lakshmi additionally known as the Goddess of wealth & prosperity as per Hindu beliefs. Whereas many are likely to spend across the competition of lights, it’s also the time to handle and price range our 12 months all spendings and take a look at saving choices.

Dad and mom occupied with investing can now save for his or her daughters. Sukanya Samriddhi Yojana (SSY) is a Central authorities scheme the place it can save you a hefty sum by investing a low quantity. Funding on this scheme not solely protects your daughter’s future but additionally helps you save revenue tax. You may get the good thing about this scheme by investing as little as Rs 1 per day.

Sukanya Samriddhi Yojana 

Sukanya Samriddhi Yojana (SSY) is a small financial savings scheme of the Central Authorities for daughters which was launched underneath the ‘Beti Bachao Beti Padhao’ marketing campaign. SSY affords a return increased than many of the small saving schemes out there.

Make investments With Much less Than Rs 1 Per Day

The Sukanya Samriddhi Yojana account will be opened for simply Rs 250. Meaning, even when you save lower than Rs 1 per day, you’ll be able to nonetheless open an SSY account and get the good thing about the scheme. In a single monetary 12 months, solely Rs 250 ought to be deposited into this account. You can’t deposit greater than Rs 1.5 lakh within the SSY account in a single monetary 12 months.

Curiosity Price

At current, the deposit within the Sukanya Samriddhi Yojana account shall be entitled to an rate of interest of seven.6 p.c every year, which is eligible for tax exemption. The account used to obtain curiosity of as much as 9.2 p.c earlier. As much as 50 p.c of the quantity will be withdrawn for the bills of the daughter’s schooling after the age of 18 years.

Financial savings In Lakhs

Suppose you make investments Rs 3000 per thirty days on this scheme i.e. Rs 36,000 every year, you’ll get Rs 9,11,574 at 7.6 p.c annual compounding after 14 years. The quantity shall be round Rs 15,22,221 in 21 years, i.e. maturity. On the identical time, curiosity obtained on the fee of seven.6 p.c within the SSY will qualify for tax exemption.

How To Open SSY Account

Sukanya Samriddhi Yojana account will be opened in any approved department of any publish workplace or industrial department. Account underneath this scheme will be opened with a deposit of Rs 250 by any citizen for his or her daughter whose age is lower than 10 years on the day of opening the account. In a monetary 12 months, a most of Rs 1.5 lakh will be deposited underneath the Sukanya Samriddhi Yojana account. After opening the Sukanya Samriddhi Yojana account, it’s legitimate until the woman baby attains the age of 21 years or until she will get married after the age of 18 years.

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