This scheme is best for daughters. Know the complete details of SSY.
In 2015, the central government started the 'Sukanya Samridhi Yojana' to secure the future of the girl child.
Under Sukanya Samriddhi Yojana, parents can open a Sukanya Samriddhi account in the name of their daughter.
The minimum amount for opening an account in SSY is fixed at Rs 250 and the maximum amount is Rs 1.5 lakh.
Until the daughter turns 18 or 21, there is a provision to withdraw only 50 percent of the amount for studies.
The Indian Post Office opens an average of 33 lakh Sukanya Samriddhi accounts every year across the country.
The Indian Postal Department has opened about 2.7 crore accounts in the last eight years. Which is a record.
In just two days, the Indian Postal Department has opened about 11 lacks Sukanya Samriddhi accounts under a campaign.
Sukanya Samriddhi Yojana account currently earns interest at the rate of 7.6 percent per annum.
There is also a review of interest in this scheme every three months. Income tax exemption is also available in this.
The interest rate compounded on Sukanya Samriddhi Yojana in 2021 was 9.1 percent, which was later reduced.