Bread, cloth and house as well as good education, safe future and bright possibilities are also necessary for women. The female literacy rate in India is 64.46%, lower than the total literacy rate. According to the National Child Rights Protection Commission report, about 39.4% of girls aged 15 to 18 are deprived of school education. Although you do not contribute to these figures, it is your responsibility of your daughter’s education and future. For this, you will have to prepare from now on, so that it not only gets education, but can also get higher education. Sukanya Samriddhi Yojana can help you in this.
Introduction to the scheme
Sukanya Samriddhi Yojana, which launched in 2015, is a small savings scheme, in which the account can be opened with only Rs 250. Through this scheme, parents can raise capital for the future of their daughters. This account can be opened in the name of girls of ten years or less, which can be opened in any nearest bank or post office.
Investment process
You can deposit minimum 250 and maximum of Rs 1.5 lakh per year in this account. This plan frees you from the concern of depositing money every month; You can deposit money whenever you want. Money can be deposited for 15 years from the date of opening of the account. This plan matures when the girl is 21 years old, that is, then you can withdraw money from it. If the account holder is married before 21 years, the account will be closed.
Relief in tax
In Sukanya Samriddhi Yojana, tax exemption under Section 80C is given on deposits up to Rs 1.5 lakh. Its interest and maturity amount is also tax free, which gives you double benefits.
Important things
- Two or more accounts cannot be opened for the same girl.
- A maximum of two girls of a family can accounts. If there are twins, their account will be considered the same.
- If you miss depositing a minimum of 250 rupees annually, you can start the account with a fine of Rs 50 per year within 15 years.
Drainage process
You can withdraw money in this account twice:
- When your baby girl turns 18 or pass 10th standard.
- The second time, when he turns 21.
By the last financial year, half the money of the amount present in the account can be withdrawn for his further studies. This money can be withdrawn in a lump sum or installment for five years as required.
If a condition of death or serious illness of an account holder or his guardian, the required documents can be closed even before time.
