Sukanya Samriddhi Yojana News
Post Office Saving Schemes are higher-yielding investment tools than fixed deposits. While fixed deposits are secured by banks, the interest rate and tax benefits are not as great as Post Office Saving Schemes. The government backs the post office programmes, which provide interest rates ranging from 5.5 percent to 7.6 percent.
Sukanya Samriddhi Yojana (SSY) is a central government small savings scheme that was created under the 'Beti Bachao Beti Padhao' scheme. Interest rates as high as 9.2 percent have been obtained in the past. Sukanya Samriddhi Yojana allows you to open an account at any recognised post office or commercial branch.
Parents generally opt for this scheme as it provides huge returns and is much higher than the other schemes in the market. This scheme allows citizens to open accounts for their daughter whose age is less than 10 years on the day of opening the account. After the girl child turns 18, she will become the owner of the account and the investment period for this scheme is 15 years and the maturity period is 21 years.
Launched by the government of India, Sukanya Samriddhi Yojana is part of the “Beti Bachao, Beti Padhao Yojana” which is meant for the welfare of the girl child. If someone invests in the Sukanya Samriddhi scheme at the Post office, he/she will get a rate of interest of 7.6 percent per annum calculated on yearly basis. The parents of the girl child aged below 10 years will be able to open a Sukanya Samriddhi Yojana account at the Post Office and only one account can be opened for a girl child.