All About Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana is a government savings scheme created with the intention to benefit the girl a child who is 10 years of age or younger. A parent or legal guardian can open maximum of 2 accounts for 2 girl child. The account matures after 21 years of opening the account or in the event of the marriage of the girl child after she gains the age of 18 years. A premature withdraw up to 50% of investment is allowed after the child gains the age of 18 years even if she is not getting married.

• Interest rate- 8.5%
• Duration of investment- 21 years
• Minimum Investment: Rs 1,000 per annum
• Maximum Investment: Rs 1.5 lakh per annum
• Tax Deduction on Principal allowed under section 80C up to Rs 1.5 lakh
• Interest received is not taxable