Sukanya Samriddhi Yojana: Complete Details on Eligibility and Benefits

The Indian central government implements various schemes aimed at supporting economically disadvantaged individuals, one of which is the Sukanya Samriddhi Yojana (SSY). This initiative is designed to empower and assist the daughters of the country by helping parents save for their future, ensuring financial security as they grow up. Here are the key details of the scheme:

Eligibility & Account Opening

• An SSY account can be opened for a girl child up to the age of 10.
• Each family can open accounts for up to two daughters, with a separate account for each.

Interest Rates and Deposits

• The scheme offers an attractive interest rate of 8.2%.
• You can deposit between ₹250 and ₹1.5 lakh annually into the account.

Withdrawal and Usage

• The account matures when the girl turns 21, at which point she can withdraw the entire amount.
• Additionally, after the girl turns 18, she can withdraw up to 50% of the deposited amount for purposes such as higher education or marriage.

Savings and Financial Planning

The Sukanya Samriddhi Yojana promotes long-term savings with its high interest rates, making it a practical option for securing funds for education and other future needs. By participating in this scheme, parents can ensure their daughters have financial security for significant milestones, making it an invaluable tool for future planning and saving.