Sukanya Samriddhi Yojana is a savings scheme launched by the Government of India in 2015 to promote the education and financial security of girl children. The scheme is aimed at encouraging parents to save for their daughters’ future and provide for their education and marriage expenses.
Under the Sukanya Samriddhi Yojana, parents or guardians can open a savings account in the name of a girl child who is below the age of 10 years. The account can be opened at a post office or authorized banks, and a minimum of Rs. 250 and a maximum of Rs. 1,50,000 can be deposited in the account in a financial year. The deposits made in the account are eligible for tax deductions under Section 80C of the Income Tax Act.
The Sukanya Samriddhi Yojana account can be opened until the girl child turns 10 years old, and deposits can be made until she turns 21 years old. The account matures when the girl child turns 21, and the accumulated savings can be used for her education and marriage expenses.
The Sukanya Samriddhi Yojana is a long-term savings scheme that can help parents secure the financial future of their daughters and provide for their education and marriage expenses. It is a safe and secure investment option with attractive interest rates, and it is an important financial planning tool for parents of girl children.