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Sukanya Samriddhi Yojana: All you need to know

krishna murthy
Sukanya Samriddhi Yojana is one such scheme for parents with a girl child who wants to secure her future.
An SSY account can be opened with a minimum initial deposit Rs 250 and maximum deposit Rs 1.5 Lakh.
Parents who have a girl child below the age of 10 years are eligible to invest in SSY in post offices and authorised banks.
The SSY scheme offers an attractive interest rate of 7.6 per cent.
Withdrawal is allowed for higher education of the account holder.
The account can be prematurely closed in case of marriage of girl child after her attaining the age of 18 years.
The account shall mature on completion of a period of 21 years from the date of opening of the account.
Deposit qualifies for deduction under Section 80C of IT Act and interest earned is free from Income Tax.
If you open the account at your daughter’s age of 1 year; you will receive a maturity value of Rs 2,54,606 after 21 years, including interest worth Rs 1,64,606.
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