Post Office Sukanya Samriddhi Yojana Interest Rate 2024

Many schemes are being run by the government for the better future of daughters and their education. One of these schemes is the Post Office Sukanya Samriddhi Yojana (SSY). This scheme is a golden opportunity for the parents of daughters to secure their future. Every parent dreams of making their children’s future safe and bright. This dream becomes even more important for daughters because they have to face many challenges to make their mark in society and fulfill their dreams. Sukanya Samriddhi Scheme is a government scheme that provides a great investment option to secure the future of daughters.

Interest rate of 7.6% under the scheme

The interest rate in Sukanya Samriddhi Yojana Post Office is decided by the government every quarter. Currently, this scheme is offering an interest rate of 7.6%. Sukanya Samriddhi Yojana Interest is calculated from the 5th of every month till the end of the month on the lowest balance in the account. After completion of the tenure of 15 years, the account holder can withdraw 50% of the amount from the age of 18 years of his/her daughter. Apart from this, if the daughter gets married after the age of 21 years then the entire amount can be withdrawn.

Features of the scheme

Eligibility to open an account: Under this scheme, parents or guardians can open an account at any time from the birth of their daughter till the age of 10 years.

Minimum and Maximum Deposit Amount: The minimum amount to open an account is Rs 250 and a maximum of Rs 1.5 lakh can be deposited in the account annually.

Investment Period: It is necessary to invest in this scheme for at least 15 years.

Interest Rate: The interest rate in this scheme is decided by the government every quarter. Currently, this scheme is offering an interest rate of 7.6%.

Tax Benefits: The amount deposited under this scheme gets tax exemption under Section 80C of the Income Tax Act.

Account Transfer: Under this scheme, the account can be easily transferred to any post office.

Partial Withdrawal: After the age of 18 years, account holders can make partial withdrawals from the account for expenses like their daughter’s education or marriage.

Full Withdrawal: After completion of 15 years, account holders can withdraw the entire amount after their daughter turns 21 years of age.

The following documents are required to apply to the scheme

birth certificate of the girl child
Depositor’s Identity Card
Depositor’s residence certificate
Depositor’s bank account details
Follow these steps to apply:
Go to your nearest post office.
Fill out the application form for Sukanya Samriddhi Yojana available at the post office.
Submit all the required documents along with the application form.
Deposit the application fee (Rs 100).
After submitting the application form, the post office officer will open the account and provide you with a passbook.

Minimum and maximum deposit amount
The minimum amount to be deposited in Post Office Sukanya Samriddhi Yojana is Rs 250 and the maximum amount is Rs 1.5 lakh. You can deposit up to Rs 1.5 lakh annually. Post Office Sukanya Samriddhi Yojana is a great investment option for the bright future of daughters. This scheme helps parents to secure the future of their daughters and helps them fulfill their dreams.

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