Sukanya Samriddhi Yojana:Sukanya Samriddhi Yojana,High interest rate, Maturity period,Process to invest,advantages,Characteristics,Steps to enroll(सुकन्या समृद्धि योजना:सुकन्या समृद्धि योजना,उच्च ब्याज दर,परिपक्वता अवधि,निवेश की प्रक्रिया,लाभ,विशेषताएं,नामांकन के चरण)
Sukanya Samriddhi Yojana: The government has a new plan called Sukanya Samriddhi Yojana. It helps girls to have a good future by saving money for their education and marriage. Parents can save money for their daughters’ future by investing in this plan if their daughters are under 10 years old. You can invest as little as Rs. 250 and as much as Rs. 1.5 lakh in this plan. It’s only for daughters. By saving for 15 years, you can gather money for your daughter’s education and marriage. Any parent or guardian can open an account for their daughter. If you want to invest in your daughter’s future, you can do it through Sukanya Samriddhi Yojana. In this article, we’ll give you all the details about it.
Sukanya Samriddhi Yojana 2024
The government runs Sukanya Samriddhi Yojana to save money for daughters. You can deposit Rs 10,000 every year, and it will grow to Rs 4.48 lakh when it’s fully grown. This plan helps secure the future of daughters. Parents or guardians can open an account for their daughters. It offers high interest and is completely safe because the government supports it. By investing regularly for a long time, you can save a lot of money. You can open an account at nearby post offices or authorised banks.
“Latest News: People who have a Sukanya Samriddhi Yojana account must finish this task before March 31, 2024. If not, their account will be turned off.”
Sukanya Samriddhi Yojana is a program by the government to help girls become self-reliant. If you have an account, you need to save at least Rs 250 every year. If you haven’t saved yet this year, do it soon. You have until March 31, 2024, to save. If you don’t, your account will be closed, and you’ll have to pay a Rs 50 penalty each year to reopen it. So, make sure to save before March 31, 2024.
High Interest rate upto 8.2 Percent
The interest rate for the Sukanya Samriddhi Yojana has been raised to 8.2 percent. This move by the government is a significant boon to investors in the scheme, marking the new year with an increase in interest rates. Effective for the fourth quarter of the fiscal year 2023-24, the interest rates for the Sukanya Samriddhi Yojana have been elevated from 8 percent to 8.2 percent. Previously, investors received an interest rate of 8 percent, but now, during the January to March quarter, the interest rate for the Sukanya Samriddhi Yojana has been raised to 8.2 percent.
However, the government hasn’t changed the interest rates for other plans.
Interest rates for all plans except Sukanya Samriddhi Yojana stayed the same.
This year, the government increased the interest rate for this plan a second time.
In the first quarter, the rate went up from 7.6 percent to 8.2 percent.
This year, the government increased the interest rates for this daughter-focused plan by 0.6 percent.
Sukanya Samriddhi Yojana 2024 Details
| Scheme Name | Sukanya Samriddhi Yojana |
| Launched by | Central Government |
| Objective | To secure the future of daughters |
| Beneficiary | Girls aged 0 to 10 years |
| Investment Amount | Minimum Rs. 250, Maximum Rs. 1.5 Lakhs |
| Investment Period | Up to 15 years |
| Interest Rate | 8.2% per year |
| Year | 2024 |
The Sukanya Samriddhi Yojana gives you a good interest rate and you don’t have to pay taxes on it.
When you invest in Sukanya Samriddhi Yojana, you get 8% interest. Right now, from July to September 2023, the interest rate is 8% per year. This plan doesn’t make you pay taxes at three levels. First, if you invest up to Rs 1.5 lakh per year, you won’t have to pay taxes under section 80c of the Income Tax Act. Second, you won’t pay taxes on the money you earn from this plan. Third, when you get the money back at the end, you won’t pay any taxes on it either.
Maturity period
1.The time it takes for your money to grow in the Sukanya Samriddhi Yojana is 21 years.
2.However, you only need to put money in for 15 years under this scheme.
3.If the account matures 6 years after you stop investing, your deposit keeps earning interest for the remaining 6 years.
4.This also means you benefit from compounding.
5.If you open a Sukanya Samriddhi account for a newborn girl, it will be ready for her when she turns 21.
6.Similarly, if you start one for a 4-year-old daughter, she can use it when she turns 25.
Once she’s 18, she can manage the account herself.
7.In the Sukanya Samriddhi Yojana, parents can start a savings account at the post office for a daughter who is younger than 10 years old. They can make separate accounts for up to two daughters. If they have twin daughters, they can open more than two accounts. Every year, they must put in at least Rs 250, but they can’t deposit more than Rs 1.5 lakh in total for the whole year.
If you prefer, you have the option to break down this sum of money and add a portion to your account each month. Additionally, it’s possible to save Rs 1.5 lakh within a year by contributing Rs 12,500 into your account every month. Likewise, if you decide to invest Rs 1,11,400 annually into Sukanya Samriddhi Yojana, you can anticipate receiving a total of Rs 50 lakh once the investment matures.
How can you invest in Sukanya Samriddhi Yojana?
- In Sukanya Samriddhi Yojana, money is put in for 15 years.
- If you pay monthly, you need to deposit at least 12 installments per year, plus one more yearly.
- You can invest in this scheme at your closest post office or any bank branch.
- You can easily deposit money in this scheme through these methods.
a) Cash
b) Cheque
c) Demand Draft
d) Online e-Transfer
Sukanya Samriddhi Yojana: Banks Providing Accounts
To open a Sukanya Samriddhi Yojana account, you can acquire the application form from either the post office or any participating private sector bank. Alternatively, you have the option to download the form from both the RBI website and the respective bank’s website. Here’s the complete list of banks offering Sukanya Samriddhi Yojana:
- Indian Bank
- State Bank of India
- Bank of Maharashtra
- Punjab & Sind Bank
- Indian Overseas Bank
- UCO Bank
- IDBI Bank
- Bank of Baroda
- Bank of India
- HDFC Bank
- Canara Bank
- Central Bank of India
- Axis Bank
- Union Bank of India
- Punjab National Bank
- ICICI Bank
Advantages and Characteristics of Sukanya Samriddhi Yojana
This scheme enables the opening of an account for a girl child under 10 years old.
Investors can contribute a minimum of 250 and up to 1.5 lakh rupees annually within a year under the Sukanya Samriddhi Yojana.
The Sukanya Samriddhi Yojana, being a government initiative, ensures guaranteed returns.
You can move your Sukanya Samriddhi Account from one place in the country to another. Plus, even after it matures, you can keep the account open and still earn interest.
At 18 years old, a girl child can withdraw 50% of the money for her education.
You can also invest in this scheme for an adopted daughter.
In the Sukanya Samriddhi Yojana, you have to deposit a premium amount for 15 years, and it matures in 21 years.
In the year 2023-24, this scheme gives 8% interest.
Once the girl is 18, she can handle her own account.
Documents required
- Girl’s birth certificate
- Proof of residence
- Parents’ PAN card and Aadhaar card
- Mobile number
To qualify for Sukanya Samriddhi Yojana,
- Only parents or legal guardians can initiate the opening of a Sukanya Samriddhi Yojana account on behalf of the girl child.
- The girl child’s age must not exceed 10 years when the account is being established.
- Each family is limited to a maximum of two Sukanya Samriddhi Yojana accounts.
- It’s not permissible to open more than one Sukanya Samriddhi account for a single girl child.
- In the event that parents have three daughters, they may open an account for all three only if the first two daughters give birth to twin daughters.
Steps to enroll under Sukanya samridhi Yojana
To enroll in Sukanya Samriddhi Yojana for the year 2024, you need to follow these steps:
- Begin by visiting the closest post office or bank branch in your area.
- Once there, ask the staff for the necessary form to participate in Sukanya Samriddhi Yojana.
- Take your time to carefully fill out the form with accurate information. This form will require details about the parent or guardian who will be investing on behalf of the girl child.
- After filling out the form, make sure to gather all the necessary documents that are required to be submitted along with it. These documents usually include proof of identity and address of the parent/guardian, as well as the birth certificate of the girl child.
- Once you have completed the form and gathered the required documents, attach them together securely.
- Finally, return to the post office or bank where you obtained the form and submit the completed application along with the initial investment amount.
By following these steps, you will have successfully applied for Sukanya Samriddhi Yojana, ensuring a brighter future for the girl child.
FAQs
Q1.What is the minimum investment amount for Sukanya Samriddhi Yojana?
Ans.The minimum investment amount for Sukanya Samriddhi Yojana is Rs 250.
Q2.Can a loan be taken on the balance amount in Sukanya Samriddhi Yojana?
Ans.No, the loan facility is not available on the balance amount of Sukanya Samriddhi Yojana. However, you can withdraw 50% of the amount under this scheme only when you turn 18 years of age.
Read more :-