Sukanya Samriddhi Yojana ( SSY )

 




Important Point

  1. Convenience  - move SSY account from one bank to another or to post office
  2. Higher Returns than most of small saving schemes 
    1. 2021 : 7.6% ( Home Loan : 7.2%, PPF : 7.1%
  3. Eligibility 
    1. Female child <= 10 y
    2. after 18y child becomes account holder
      1. Withdraw upto 50% of amount for
        1. Education
        2. marriage
  4. Investment period = 15y , maturity period is 21y
  5. Restrictions
    1. Only 2 accounts per family
  6. Min deposit 
    1. 250/- per year failing Rs50/- penalty 
  7. Limits
    1. Upper = 1.5L / Year
    2. Lower = 250/- / year
  8. Interest 
    1. End of every Financial year
  9. Tax 
    1. 80C IT 1961
  10. Premature Closure
    1. after 5y - prematurely can be closed 
      1. Serious illness or death of guardian
      2. PO saving rate from date of death to date of final payment

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