Sukanya Samriddhi Yojana – Update: Know how much will be available by the due date, see full estimate

Sukanya Samriddhi Yojana – Update: Sukanya Samriddhi Yojana is a system started for daughters. This system was started under the Beti Bachao-Beti Padhao system. Under this system, the daughter’s parents or guardians open a Sukanya Samriddhi account. This account can be opened in any authorized commercial bank or post office.

Sukanya Samriddhi Yojana – Update

Sukanya Samriddhi Yojana - Update

SSY Sukanya Samriddhi Yojana – Update

You can use the SSY calculator to know the maturity return of Sukanya Samriddhi Yojana. Using the calculator, you can understand the complete calculation of the maturity amount according to the deposit amount. The Sukanya Samriddhi account is also included in the post office’s small savings program. Tell us about this schedule in detail. In this postal system, there is an interest rate of 7.6 percent annually. This interest rate applies from 1 April 2020. The interest rate is calculated and composed on an annual basis.

investment amount

A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be invested in Sukanya Samriddhi Yojana during a financial year. It must be inserted in multiples of Rs.50. A lump sum can also be deposited. There is no limit to the number of deposits in a Sukanya Samriddhi account during a month or a fiscal year. According to this post office, parents can open an account in the name of a girl child under 10 years.

During this Sukanya Samriddhi Yojana, only one Sukanya Samriddhi account can be opened in the maiden’s name at any post office or bank in India. This account can be opened for a maximum of two girls in the family. For twin girls or triplets, more than two accounts can be opened.

Maturity: Sukanya Samriddhi Yojana – Update

According to this Sukanya Samriddhi Yojana account can be closed at maturity after 21 years from the date of account opening. Apart from this, after the girl turns 18, the Sukanya Samriddhi account can also be closed at the time of marriage. Deductions can be claimed under section 80C of the Income Tax Act on the amount deposited at the Post Office’s Sukanya Samriddhi Yojana. According to this section, the benefit of tax exemption is available on the maximum amount up to 1.5 lakh Rs.

how much will the return be

Assume that your daughter’s age is 5 years for which the Sukanya Samriddhi Yojana account has been opened. The account was launched in 2021. Consequently, the account will expire in 2042. The Sukanya Samriddhi account is open for 21 years. Every year, 10,000 rupees are deposited into the account. In this way, the total investment in the Sukanya Samriddhi Yojana account will be Rs 1,50,000. If we now calculate 7.6%, the total investment will be 2,74,344 Rs. This account will expire in 2042. In this way, Rs 4,244,344 will be available in the daughter’s account.

how to withdraw money

You can withdraw money after the Sukanya Samriddhi account is mature. The daughter in whose name this money is, she takes it out. For this, some necessary documents must be submitted. First of all, the daughter must submit the application for withdrawal. You must also submit your ID and valid proof of address. The Sukanya Samriddhi Yojana account holder must also provide his or her citizenship paper.

where to spend the money

The money taken out can be used for higher education. If you want, you can withdraw money even earlier, but then the daughter must be 10th passport and the age must also be over 18 years. This money can be used for fees and entrance fees. To prove that this money will be used for studies in Sukanya Samriddhi Yojana, the depositor must submit the admission cards for the university. Along with this, a fee receipt will also need to be provided. Sukanya Samriddhi account is important for daughters.

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