Sukanya Samriddhi Yojana: What is this scheme, and what is the benefit of investing in it, know here!

pc; The Economic Times - IndiaTimes

Sukanya Samriddhi Yojana is a government-backed savings scheme in India that aims to provide financial security to girl children. This scheme, launched in 2015 by the Government of India, offers many benefits to parents who invest in it.

One of the major benefits of investing in Sukanya Samriddhi Yojana is the high-interest rate. Currently, this scheme offers an interest rate of 7.6% per annum, which is higher than most other savings schemes available in the market.

This means that parents can earn substantial returns on their investments and grow their savings over time. Another advantage of this scheme is the tax benefits it offers. Contributions made to Sukanya Samriddhi Yojana are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

This means that parents can reduce their taxable income by investing in this scheme, thereby saving on taxes. Moreover, Sukanya Samriddhi Yojana provides a great opportunity for parents to secure their daughter's future. The money invested in this scheme can be used for various purposes, such as the girl's education, marriage, or any other financial need. This ensures that parents have a reliable and dedicated savings fund to fulfill their daughter's dreams and aspirations.

Apart from financial benefits, Sukanya Samriddhi Yojana also promotes the empowerment of the girl child. By encouraging parents to save for their daughter's future, the scheme aims to break gender stereotypes and promote gender equality.

It sends a strong message that girls deserve equal opportunities and financial security. To avail of the benefits of Sukanya Samriddhi Yojana, parents need to open an account for their daughter before she turns 10 years old. The account can be opened in any post office or authorized bank.

The minimum deposit required to open an account is Rs 250, and the maximum that can be deposited in a financial year is Rs 1.5 lakh. Finally, Sukanya Samriddhi Yojana is a highly beneficial savings scheme for parents to secure their daughter's future. With its attractive interest rates, tax benefits and focus on empowerment, this scheme offers parents a great opportunity to invest in their daughter's dreams and aspirations.