New Delhi: Sukanya Samriddhi Account Scheme is a government initiative aimed at strengthening the economic status of girl children in India through savings for education and marriage expenses. It has varied advantages, including a minimum deposit requirement of ₹250 and a maximum annual deposit of ₹1.5 lakh. It is available for accounts opened in the name of a girl child until she attains the age of 10 years. However, only a single account can be opened in order to ensure focused investment. Accounts can be opened in any post office or authorized banks throughout India and have provisions for easy transferability from one institution to another.
Sukanya Samriddhi calculator
The benefits of the scheme can be illustrated by the fact that an annual deposit of ₹1,00,000 for a period of 15 years, along with the current interest rate of 8.00% per annum, will yield ₹46,53,395 after a period of 21 years. The amount to be deposited for 15 years will be ₹15,00,000, and interest earned will be ₹31,53,395. An example of this would be how much the Sukanya Samriddhi Account Scheme provides in terms of financial growth with minimum tax benefits to safeguard the future of the girl children.
Sukanya Samriddhi withdrawal
Withdrawals from this account are permissible for the purpose of paying high education fees. Also, the account may be prematurely closed if the girl has married after reaching the age of 18 years. The account becomes operational after a term of 21 years from the date of opening the account, thereby becoming long-term financial security. Additionally, the deposits in the account are subject to tax deduction under Section 80-C of the Income Tax Act, while the interest income is exempt from income tax under Section 10.
Sukanya Samriddhi Yojna was launched by Prime Minister Shri Narendra Modi in connection with ‘Beti Bachao Beti Padhao’ campaign on January 22, 2015.
The Sukanya Samriddhi Account Scheme offers a powerful way to secure the future of girl children through tax-advantaged savings with attractive returns. By depositing annually, you can build substantial financial support for education and marriage. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
