SSY Scheme 2024: Sukanya Samriddhi Yojana is the most popular investment scheme of the Central Government. Under this scheme, to save for the education and marriage of a girl below 10 years of age, you can invest in the Sukanya Samriddhi Yojana of the Central Government to get lump sum help at the time of her education or marriage. Can invest. Those who want to stay away from the risk of stock market and are worried about the falling interest rates in Fixed Deposit, then Sukanya Samriddhi Yojana is a great option for you.
What is Sukanya Samriddhi Yojana:
Sukanya Samriddhi Yojana (SSY) is an important savings scheme for daughters of the Central Government. This scheme has been started by the Central Government under the campaign of Beti Bachao Beti Padhao. It is a small savings scheme in which good interest rates are available. Sukanya Samriddhi The scheme has been started keeping in mind those families who are poor and middle class and want to collect small savings for their daughter’s marriage or higher education.
Sukanya Samriddhi Yojana Eligibility:
Under Sukanya Samriddhi Yojana, the account can be opened with a minimum deposit of Rs 250 within 10 years from the birth of the girl child. A maximum of Rs 1.5 lakh can be deposited under Sukanya Samriddhi Yojana in the current financial year. This account can be operated till the daughter turns 21 or gets married after 18 years. Only one account can be opened for a girl child.
Where to open Sukanya Samriddhi Yojana account:
Under Sukanya Samriddhi Yojana, you can open an account from any authorized post office or commercial branch. For this the following documents will be required:-
- baby girl birth certificate
- Proof of identity and address of the child’s parents or guardian
What will happen if the amount is not deposited in Sukanya Samriddhi Yojana:
If the amount is not deposited in the Sukanya Samriddhi Yojana account due to any irregularity, it can be regularized by paying a penalty of Rs 50 per year. Along with this, the minimum amount to be deposited every year will also have to be deposited in the Sukanya Samriddhi Yojana account.
If the penalty is not paid, then the amount deposited in the Sukanya Samriddhi Yojana account will get interest equal to the post office savings account, which is currently around four percent. If excess interest has been paid on Sukanya Samriddhi Yojana account then it can be revised.
When will Sukanya Samriddhi Yojana account mature:
The account will become mature after completion of 21 years from the date of account opening or marriage of the girl child.
Terms of Sukanya Samriddhi Yojana:
Sukanya Samriddhi is a small savings scheme in India, under which parents or legal guardians can open an account in the name of the girl child and operate it till the girl child turns 10 years of age. This account can be opened in any post office and designated government banks.
The popularity of Sakanya Samriddhi Yojana has increased for some time among the people with the aim of saving for the future needs of daughters, especially education and marriage. Sukanya Samriddhi Yojana (SSY) is a small savings scheme for daughters. SSY has been launched under the ‘Beti Bachao-Beti Padhao’ scheme of the Central Government. But there are still many misconceptions regarding this scheme. Today we will talk about such misconceptions and their truth.
Tax exemption is also available on investment in SSY under Section 80C of the Income Tax Act. SSY is also helpful in creating a big fund in the long run. You can also avail the benefit of SSY scheme for your daughter.
misconception 1. As mentioned in Sukanya Samriddhi Yojana (SSY), the entire maturity amount can be withdrawn as soon as the daughter turns 21 years of age. But the truth is that it is not so at all. The entire maturity amount can be withdrawn only after 21 years from the date of opening of the account. This means that the maturity period of this scam is 21 years, and not the daughter’s 21 years of age. That is, if the account is opened on the fifth birthday of the daughter, then she will get the full maturity amount at the age of 26 years. Not after the daughter completes 21 years of age. Most of the people understand this in Sukanya Samriddhi Yojana. So your confusion about when the maturity amount will be released must have been cleared.
misconception 2: Any amount can be withdrawn from the amount deposited in Sukanya Samriddhi Yojana (SSY) account for higher education. You may have heard this but the truth is that it is not at all true. The amount of partial withdrawal for higher education cannot exceed a maximum of 50% of the total balance available at the end of the financial year immediately preceding the withdrawal or the fees of the education institution (50% of the total balance or fees of the education institution, whichever is higher). be less). Partial withdrawal for the purpose of higher education will be allowed only if the daughter completes 18 years of age or passes 10th (whichever is earlier). There are two options for partial withdrawal – lump sum or instalments. Installments can be taken for a maximum of five years. Only one installment will be allowed every year. So by taking Sukanya Samriddhi Yojana, this misconception would also have gone away.
misconception 3 : In Sukanya Samriddhi Yojana (SSY), the maturity amount for marriage will be available only when the account is opened for 21 years. But it is not like that at all. In this situation you are exempted. If we assume that the account holder (daughter) gets married after the age of 18 years, then it is not necessary for the account to be 21 years old to get the maturity amount. Suppose a girl child opens an account under Sukanya Samriddhi Yojana at the age of 6 years. In this situation, complete withdrawal can be made only after the account holder completes 27 years. But if the account holder gets married at the age of 19, it means that she can withdraw the entire amount even after completion of only 13 years of account opening. Also keep in mind that the provision for premature closure is not one month before and three months after the wedding date.
misconception 4 : In Sukanya Samriddhi Yojana (SSY), annual minimum contribution is required for full 21 years. But it is not so at all. The truth is that even though the entire maturity amount can be withdrawn only after 21 years (different rules in case of marriage), the contribution has to be made only for 15 years from the date of opening of the account. However, in case of premature closing (for marriage), the contribution may be less than 15 years. Suppose a girl child opens an account at the age of 10 and she withdraws the entire amount from the account for her marriage at the age of 20. So in this situation the contribution of the account holder will be only for 10 years. Not for the entire 21 years.
misconception 5 :You can deposit Sukanya Samriddhi Yojana (SSY) on any day of the month, interest will not be affected. But it is not so at all. The truth is that interest will be given only on the minimum deposit amount available between 1st and 10th of the month. Meaning, if you deposit after 10th of any month, you will not get interest for that month.
Suppose you deposit a lump sum in this scheme on 11th April of any year, then you will get interest for 11 months instead of 12 months on the amount deposited in that financial year. Financial year means 01 April to 31 March, it is considered a financial year.
So friends, this was some truth about Sukanya Samriddhi Yojana (SSY) which I have tried to present before you. I hope that you liked this article, then share it with you and other people so that more people also know about it. Be able to do so and not fall into the trap of lies.
Note: Changes may be made in Sukanya Samriddhi Yojana from time to time by the government, for this please visit the official website before investing.
