WHO launched Sukanya Yojana?
Prime Minister Narendra Modi
The scheme was launched by Prime Minister Narendra Modi on 22 January 2015 in Panipat, Haryana. The accounts can be opened at any India Post office or a branch of some authorised commercial banks. Initially, the interest rate was set at 9.1% but later revised to 9.2% in late March 2015 for FY2015-16.
What is Sukanya Samriddhi Yojana rules?
Rules for opening Sukanya Samriddhi Account You can only open and operate one account in the name of the girl child. You can’t open two accounts for one girl. The parents or legal guardians of a girl child (up to 10 years old) can open this account with a notified bank or post office in the name of the girl.
How many times we can deposit money in Sukanya Yojana per year?
Subsequent deposits in multiples of ₹ 100 and there are no limits on the number of deposit a member can do in a month of a financial year. Investments made for Sukanya Samriddhi Yojana account and maturity amount are fully exempted from tax under section 80C of the Income Tax Act.
How many years should we pay for Sukanya Samriddhi Yojana?
What is the duration of the sukanya samriddhi yojana account? The payment period for SSY accounts is 15 years, while the maturity period of the account is a minimum of 21 years.
What is the interest rate of ssy?
7.6% p.a.
The SSY account currently offers an interest rate of 7.6% p.a. for the July to September quarter of the year 2021. The amount deposited in the SSY account is eligible for a tax deduction up to Rs 1.5 lakh per year under Section 80C of the Income Tax Act.
What is current interest rate on Sukanya samriddhi Yojana?
7.60%
Sukanya Samriddhi Yojana Interest Rate
| Scheme | Sukanya Samriddhi Yojana | Recurring Deposit |
|---|---|---|
| Interest rate (FY 2020-21) | 7.60% p.a. | 5.75% – 8.05% p.a. |
What if girl dies in Sukanya Samriddhi Yojana?
The account can be closed prematurely on the untimely death of the accountholder. At the end of the year, a payment of Rs. 50 has to be made over the minimum annual deposit towards the Sukanya Samriddhi Yojana savings scheme as a confirmation for reviving the account.
Can we close Sukanya samriddhi account?
Can I close my Sukanya Samriddhi account prematurely? Yes, the Sukanya Samriddhi account can be closed prematurely. This can only happen when your daughter completes 18 years of age and provided she gets married.
Can parents withdraw money from Sukanya samriddhi account?
Sukanya Samriddhi Yojana Withdrawal This account allows people to partially withdraw their money as and when they need it. However, the girl child will be required to be at an age of 18 years before her guardian or parents can withdraw the money from the account.
Is Sukanya samriddhi Yojana good?
Now Sukanya accounts are expected to continue giving slightly higher returns (around 50 basis points) than PPF due to the social angle of the SSY scheme. Currently, SSY offers 7.6 percent while PPF offers 7.1 percent. So when it comes to interest, SSY is better.
Which is better Ssy or PPF?
According to tax and investment experts, both options have a lock in period but PPF interest rate is 7.1 per cent while SSY interest rate is 7.6 per cent — 0.5 per cent higher than PPF account’s current annual yield. In that case, PPF is better suited as it allows an investor to invest till its maturity of 15 years.”