New Delhi. Just as you do financial planning for your better future, you should think the same way for your daughter. Every parent is worried about their daughter’s marriage as well as her good education. Sukanya Samriddhi Yojana is the best way to overcome this worry of yours.
It is a tiny savings program backed by the national government. Post offices and commercial banks both accept the opening of their accounts. The biggest public sector bank, SBI, also lets you open an account like this. The Sukanya Samriddhi Yojana account currently offers interest at a rate of 7.6%.
This scheme is part of the government’s campaign
This scheme is part of the ‘Beti Bachao-Beti Padhao’ campaign of the Central Government. This account may be started for a daughter who is younger than ten years old under this plan. If the legal guardian opens the account on behalf of the parents, they will need to provide ID and proof of address. For this, a PAN card, Aadhar card, passport, driving license, ration card, etc. can be submitted. Additionally, pictures of the girl’s parents and herself must be sent.
How to open an account?
You must first complete the account opening form at the post office or bank in order to open an account under the Sukanya Samriddhi Yojana. Relevant paperwork must be presented with this form, including the daughter’s birth certificate and photo. Along with the paperwork, you must deposit at least Rs 250 in cash. Once the account has been opened, you can make deposits using cash, checks, or demand draughts.
High-interest rate
High-interest rate is offered on the Sukanya Samriddhi Yojana account. You can deposit a minimum of Rs 250 in this account annually. You can deposit up to Rs 1.5 lakh annually at your convenience. The interest rate currently stands at 7.6 percent as of March 31, 2022. The amount has to be deposited in the account for the first 14 years. This scheme matures after 21 years. However, if the daughter gets married after the age of 18, the amount can be withdrawn. Apart from this, you can withdraw up to 50 percent of the amount after the age of 18 for the education of the daughter.
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