SUKANYA SAMRIDDHI YOJANA: A WONDERFUL GIFT FOR YOUR DAUGHTER ON INTERNATIONAL GIRL CHILD DAY

 

SUKANYA SAMRIDDHI YOJANA

Sukanya Samriddhi Yojana.

Sukanya Samriddhi Yojana is an excellent gift for your daughter on International Girl Child Day. On October 11th, 2023, we commemorate the significance of girls’ education, their rights, and the pursuit of gender equality.

In this significant time, the Sukanya Samriddhi Yojana (SSY) stands out as a perfect gift for your daughter. It offers government-backed, duty-free returns and a secure investment for her future.

Sukanya Samriddhi Account: An Investment in Her Dreams.

The Sukanya Samriddhi Yojana account is a special economic tool designed simply for young Indian girls. It provides flexibility through yearly or monthly deposits. It’s more than just an account; it’s a pledge to support your daughter’s dreams.

Supporting Advanced Studies with SSY:

The SSY isn’t just a savings account; it’s a crucial tool for funding your daughter’s advanced education. By starting investments soon after your daughter’s birth, you have a 15-year window for contributions, which ends when your daughter turns 14.

When your daughter reaches 18, the SSY account allows partial withdrawals for marriage or advanced education expenses, with withdrawals limited to 50 percent of the account balance from the previous fiscal year.

This fiscal inflexibility faultlessly aligns with your child’s educational journey, making it the ideal choice for parents saving for their daughter’s education.

Timing Matters for SSY:

The timing of your investments can significantly affect the benefits of the Sukanya Samriddhi Yojana. Starting beforehand, immaculately when your daughter is a toddler or youngish, will maximize the account’s eventuality in funding her education.

Still, starting latterly, when your daughter is above 4-5 years old, may not completely serve the purpose of financing her education.

Sukanya Samriddhi Account Interest Rate:

Presently, the Sukanya Samriddhi Yojana deals with an attractive interest rate of 8 percent. Though, keep in mind that this rate may change daily. This competitive rate makes it an excellent choice for families looking for long-term fiscal security.

Tax Benefits and SSY: The benefits of the SSY extend to tax benefits.

Deposits made in this scheme qualify for an income tax deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. Also, the interest earned and the maturity amount remains entirely tax-free, enhancing your overall savings.

As we commemorate International Day of the girls in 2023, the theme, “Invest in girls’ Rights: Our Leadership, Our Well-being,” emphasizes the significance of empowering girls. By investing in the Sukanya Samriddhi Yojana, you not only secure your daughter’s future but also contribute to realizing her rights and bounds. This International Girl Child Day, give your girl child the gift of a brighter future with a Sukanya Samriddhi account.