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Why Girl Child Must Open Sukanya Samriddhi Yojana Account?

Sukanya Samriddhi Yojana is a small saving scheme that is launched by Government of India. The main reason for this scheme launch is mainly for women and girl children in India. With help of this scheme, girl child can get higher interest return of 8.5 percent and reap tax benefits of utmost Rs. 1.5 lakh. As a part of Beti Bachao Beti Padhao campaign, the Prime Minister of India launched a scheme called Sukanya Samriddhi Yojana. This scheme will be more useful for girl child. It was mainly launched due to various reasons such as

  • To stop gender discrimination of children
  • To ensure the endurance as well as the protection of girls
  • At last to ensure higher participation of girls in education

What is Sukanya Samriddhi Yojana (SSY)?

The SSY’s main aim is to reduce the major problem connected with the girl child such as education and marriage. It is mainly focused to secure bright future of girls in India. Girl child parents or guardians can apply for this fund in order to give proper education and sage marriage expenses for their child. This scheme introduced Sukanya Samriddhi Yojana account for this purpose so open it and give bright future for your girl child. To get maturity value use sukanya samriddhi yojana calculator.

What are the basic rules to open Sukanya Samriddhi Yojana Account?

A girl child who resident in India can able to open an account till the time of old age. Only parents or guardians of a girl child can open the account. Moreover girl must be 10 years old. The guardian or girl child who attained age of 10 years can deposit amount as well as operate the account. The account can also be mandatorily operated by the child when she attains 18 years ago. Only one account must be open for per girl child. Accounts can be opened for maximum two girl children in one family. If you decided to open an account then open at any post office or official branch of commercial banks. Thus the below mentioned are documents needed to open the account:

  • Girl child birth certificate
  • Residential proof of parent or guardian
  • Medical certificate for birth proof
  • And any other documents as needed by the post office or bank

How to calculate the maturity value of SSY?

SSY is a small scheme for a girl child. It has become more popular among people due to its tax benefits. It has tax benefit of Rs. 1.5 lakh maximum. If you are planning to invest in this scheme, you can use sukanya samriddhi yojana calculator in order to calculate the maturity account at the end of the tenure.

In order to know the maturity value, the calculator will ask you to provide the age of your daughter and then the amount you need to invest in the scheme. Rs. 1000 is the minimum amount to invest and Rs. 1.5 lakh is maximum. It assists you in determining the amount that you invest each year in a comfortable way.

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