SSY Details Benefits: Bank of Baroda, the country’s largest public sector bank, has opened an account under the Sukanya Samridhi Yojana, the central government’s most important scheme. Investing money in this scheme ..
Sukanya Samriddhi Yojana Scheme: An account has been opened under the Sukanya Samriddhi Yojana, the most important scheme of the Central Government in Bank of Baroda, the state-owned bank in the country. Those who invest money in this scheme get more profit than any government scheme. Experts say that if you save about Rs 35 per day, you can prepare a fund of Rs 5 lakh for your daughter.
Let us know about Sukanya Samridhi Yojana.
According to the information given on the website of Bank of Baroda .. Sukanya Samridhi Yojana was launched on 2 December 2014 under the auspices of Beti Bachao Beti Padao. In addition to the tax benefits on the Sukanya Samridhi Yojana, you are also earning an interest rate of 7.6% (from 01.01.2021 to 31.03.2021).
Who can open an account in Sukanya Samridhi Yojana ..
After the girl is born, accounts can be opened in her name until she is ten years old.
- Only girls are eligible for Sukanya Samridhi account
- At the time of opening the account, the girl must be less than 10 years old
- Proof of age of the girl child is mandatory when opening an SSY account
The account opens for just 250 rupees.
Any account can be opened with an initial deposit of at least Rs 250. If you deposit Rs 20,000 a year in the Sukanya Samridhi Yojana, you can earn Rs 2,80,000 a year for 14 years, say financial experts. Maturity comes after 21 years. After that about 10 lakh fund will be created.
At the same time, if you deposit Rs 35 per day, which is about Rs 1,000 per month or Rs 12,000 per year, you will get over Rs 5 lakh on maturity.
How much money can I invest in a year ..
Up to Rs 1.5 lakh can be deposited in the financial year (starting from April 1 and ending on March 31 next year). This amount can be deposited in multiples of one hundred at a time or multiple times but should not exceed the maximum limit. The account matures at the end of 21 years.
How much is the tax benefit
Deposits under the ‘Sukanya Samrini Account’ scheme are exempt under Section 80C of the Income Tax Act, 1961.
How long will you be interested
Clients can earn 7.6% (01.10.2020 to 31.12.2020) interest on their deposits. The account receives annual interest at the end of the financial year. Interest will not be paid after the completion of 21 years from the date of commencement.
Important things ..
If the client becomes an NRI during the operating period of the account, the account will continue till maturity. However, if the client revokes his Indian citizenship, the account will be closed. The account can be opened by any guardian in the name of a girl who is not ten years old from the date of opening the account.
A maximum of two accounts can be opened in any family, but if such children are born in the first or second stage of birth .. More than two accounts can be opened in a family if there are twins / three children born at both births. Children must have been born together or, and their birth certificate must be submitted with a guardian affidavit.
Sukanya Samridhi Yojana account can be transferred anywhere in the country if the customer changes from the original place of opening the account. Account transfer is free of charge, however, for which the client or his / her parents / guardians must show proof of change.
If such evidence is not shown, the post office or bank will have to pay a fee of Rs.100 for the transfer of the account opened. Sukanya Samiddhi Yojana account transfer can be done electronically at the bank or post office where the core banking system facility is available.
If you also have a small child in your household, you can invest in the Central Government Sukanya Samridhi Yojana to get help at the same time during her education and marriage.
The Central Government Sukanya Samridhi Yojana is a good investment plan to save for a daughter under higher education and marriage under 10 years. Putting money into this great investment option can also help you save on income tax.