Sukanya Samriddhi Yojana Details: Friends, the Sukanya Samriddhi Yojana (SSY Scheme) has been launched by our nation’s prime minister, Shri Narendra Modi, for the better future of the nation’s female citizens. You no longer need to worry if a newborn girl is born in your home and you are concerned about her future because the government has started the Sukanya Yojana to cover the costs associated with daughters’ future marriage and schooling.
As part of this program, parents open a savings account for their daughter prior to her tenth birthday. A bank or post office is where the guardian can open this account. The annual contribution in this account by the girl’s parents might range from ₹250 to ₹1.5 lakh. Additionally, the government offers compound interest on the amount deposited at a fixed rate in savings accounts opened under this system.
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Sukanya Samriddhi Yojana 2024
The Sukanya Samridhi Yojana was initiated by the central government to help parents raise their girls well without having to worry about their future by covering the costs of their future education, higher education, and marriage. This ambitious programme was launched as part of the Government of India’s Beti Bachao Beti Padhao strategy.
A daughter’s investment account is opened by parents under the Sukanya system. The lowest possible yearly investment is ₹ 250, while the most possible investment is ₹ 1.5 lakh. Currently, the sum deposited into the Sukanya account is earning interest at a rate of 7.6%. Go on reading this post if you’d like more details about the SSY plan.
Sukanya Samridhi Yojana 2024 Overview
| Name of Scheme | Sukanya Samriddhi Scheme |
| Was started | by the central government |
| Beneficiaries | Girls under 10 years of age |
| Objective | Securing the future of daughters |
| Benefits | Savings for the expenses incurred in higher education and marriage of daughters. |
| investment amount | Minimum Rs 250 to maximum Rs 1.5 lakh |
| Current Year | 2024 |
| official website | https://www.india.gov.in/sukanya-samriddhi-yojna |
Objective of Sukanya Samriddhi Yojana 2024
Ensuring the future of girls is the primary goal of the government’s Sukanya Samriddhi Yojana. Parents of low-income families frequently worry about their daughters’ futures once they are born. Their daughters’ wedding and college costs are a constant source of concern for them. The government has started the Sukanya Yojana to relieve people of all these anxieties.
Any parent from a low-income household can easily register a savings account and make investments in it for their daughter’s promising future thanks to this initiative. As a result, the daughters won’t have to worry about money when they grow up and can learn how to be independent.
Benefits and features of Sukanya Samriddhi Yojana
- A girl kid under the age of ten may open an account in her name under this program.
- Anybody can invest under the Sukanya Samriddhi Yojana up to a limit of 1.5 lakh rupees each year.
- Since Sukanya Samriddhi Yojana is a government initiative, its returns are guaranteed.
- Sukanya Samriddhi Account transfers are possible between regions of the nation. In addition, if the account is kept open even after maturity, interest will be paid.
- When the girl child is 18 years old, an option has been given to withdraw 50% of the amount for her education.
- Investment can also be made under this scheme for the adopted daughter.
- Under Sukanya Samriddhi Yojana, the premium amount has to be deposited for 15 years, for which the maturity period has been fixed at 21 years.
- As per the financial year 2023-24, interest is being given at the rate of 8% in this scheme.
- After turning 18, the girl can manage her account herself.
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Eligibility for Sukanya Samriddhi Yojana
- Parents or legal guardians are the only ones authorized to register a Sukanya Samriddhi Yojana account in the name of a female kid.
- The girl child must not have turned ten years old when the account is opened.
- Only two accounts may be opened by a family under the Sukanya Samriddhi Yojana.
- A girl child can only have one Sukanya Samriddhi account set up.
- Only in the event that two girls give birth to twin daughters after first having a daughter can an account be formed for three daughters.
Documents required for Sukanya Samriddhi Yojana
Documents Required for the Sukanya Samriddhi Yojana: The following documents are required to open an account for your daughter under the program; you must bring them to the bank or post office. These are the contents of every document:
- There should be a birth certificate of the girl child.
- Aadhar card/PAN card/identity card of parents
- Residence certificate
- Documents required by bank or post office.
- Passport size photo
List of banks for opening SSY account
Below is a list of banks where you can open an account under the Sukanya Samriddhi Yojana. Visit the closest branch of any of these banks to start a savings account for your daughter’s future.
- State Bank of India
- Punjab National Bank
- Bank of India
- Bank of Baroda
- Bank of Maharashtra
- Allahabad Bank
- Axis Bank
- Andhra Bank
- Punjab & Sind Bank
- Union Bank of India
- UCO Bank
- Vijaya Bank
- Oriental Bank of Commerce
- State Bank of Hyderabad
- Bank of Maharashtra
- United Bank of India
- Canara Bank
- Dena Bank
- State Bank of Patiala
- State Bank of Mysore
- IDBI Bank
- State Bank of Travancore
- ICICI Bank
- State Bank of Bikaner & Jaipur
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When can I withdraw the amount deposited in the SSY account
The following circumstances apply if you deposit money into an account under the Sukanya Scheme and then decide you would like to take the money out.
- The girl kid can withdraw half of the funds placed into the account to cover her additional education costs when she turns eighteen.
- However the funds are only available for withdrawal once a year and in instalments for a maximum of five years.
- Opening an investment account under the Sukanya Yojana requires you to make investments for a minimum of 15 years.
When is it possible to close an SSY account?
Before you reach eighteen, you may, under certain circumstances, close the Sukanya account and withdraw the funds that have been deposited into it.
- In the event that the female child marries, the beneficiary may take out the funds prior to the maturity term in order to cover her wedding costs after the girl kid becomes eighteen.
- In the event of the account holder’s untimely death: The parents of the female child may withdraw the money that was deposited into the Sukanya Yojana account.
- Financially incapable of maintaining the account: The SSY account may be cancelled prior to the maturity period if the guardian is unable to maintain the beneficiary female child’s account.
Sukanya Samriddhi Yojana Calculator 2024
The maturity amount can be ascertained using the Sukanya Samriddhi Calculator (SSY Calculator). To calculate the maturity amount, information such as the interest rate and annual investment can be employed. The cash deposited under the SSY Scheme is subject to a 7.6% interest rate.
How much will you get if you deposit ₹1000 in Sukanya Samriddhi Yojana?
| Total amount in 1 year by depositing 1000 per month | रु12,000/- |
| Total amount deposited in 15 years | रु1,80,000/- |
| Total interest on the amount deposited for 21 years | रु3,29,000/- |
| Total amount received on maturity | रु5,09,212/- |
How much will you get if you deposit ₹ 2000 in Sukanya Yojana
| Total amount in 1 year by depositing 2000 per month | रु24,000/- |
| Total amount deposited in 15 years | रु3,60,000/- |
| Total interest on the amount deposited for 21 years | रु6,58,425/- |
| Total amount received on maturity | रु10,18,425/ |
How much will you get if you deposit ₹ 5000 in Sukanya Yojana
| Total amount in 1 year by depositing 5000 per month | रु60,000/- |
| Total amount deposited in 15 years | रु9,00,000/- |
| Total interest on the amount deposited for 21 years | रु16,46,062/- |
| Total amount received on maturity | रु25,46,062/- |
How much will you get if you deposit ₹ 10,000 in Sukanya Yojana
| Total amount in 1 year by depositing 10000 per month | रु1,20,000/- |
| The total amount in 1 year by depositing 10000 per month | रु18,00,000/- |
| Total interest on the amount deposited for 21 years | रु33,30,307/- |
| Total amount received on maturity | रु51,03,707/- |
How much will you get if you deposit ₹ 12000 in Sukanya Yojana
| Total amount in 1 year by depositing 12000 per month | रु1,44,000/- |
| Total amount deposited in 15 years | रु21,60,000/- |
| The total amount in 1 year by depositing 12000 per month | रु39,50,549/- |
| Total amount received on maturity | रु61,10,549/- |
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How to open an account under Sukanya Samriddhi Yojana 2024
- The guardian must first visit the bank or post office that is closest to him in order to open an SSY account.
- It is now their responsibility to obtain the Sukanya Samriddhi Yojana application form.
- You must now carefully fill out every question on this application form.
- After completing the form, make sure it has all the necessary attachments.
- Once this procedure is finished, you must visit the post office or bank to turn in the application.
- You can register your daughter for the Sukanya Samriddhi Yojana in this manner.
FAQs
Q. What is the Sukanya Samridhi Yojana account opening process?
Ans: The Sukanya Yojana allows you to open an account for your daughter’s bright future. To do so, visit the bank or post office that is closest to you.
Q. Is it possible for me to cancel my Sukanya Samriddhi account?
Ans: This article contains detailed information about the conditions that must be met in order for your Sukanya Yojana account to be closed.
Q. What documentation is required to open a Sukanya account?
Ans: To open an account under the Sukanya Yojana, you will need the application form for the Sukanya Samriddhi Yojana, the birth certificate of the girl child, the parent’s Aadhaar card, the PAN card, the identity card, the passport-sized photo, and any other documentation required by the bank or post office.
Q. What is the Sukanya Samriddhi Yojana helpline number?
Ans: You can acquire information on this initiative by calling its hotline number, 18002666868, which is a toll-free number.
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