Sukanya Samriddhi Yojna

Sukanya Samriddhi Yojna

 ‘Sukanya Samriddhi Yojana’ (Girl Child Prosperity Scheme)

Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child launched as a part of the ‘Beti Bachao Beti Padhao’ campaign and Launched on 22nd January 2015.

It is currently (2017-18) fetching an interest rate of 8.3 per cent and provides income-tax benefit.

A Sukanya Samriddhi Account can be opened any time after the birth of a girl till she turns 10, with a minimum deposit of Rs 1,000. A maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.

A Sukanya Samriddhi Account can be opened in any authorised Post Office branch or authorised branches of commercial banks. Generally, all banks that provide the facility to open a Public Provident Fund (PPF) account offer one for Sukanya Samriddhi Yojana (SSY) too.

The account will remain operative for 21 years from the date of its opening or till the marriage of the girl after she turns 18.

To meet the requirement of her higher education expenses, partial withdrawal of 50 per cent of the balance is allowed after she turns 18.

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4 Comments
  • Rajesh Nagaria
    Posted at 11:10h, 04 November Reply

    Sir,
    I think it is better to invest in uti ccp advantage or hdfc child plan or icici child plan. It will gige beeter return in long term.
    Regards.
    Rajesh Nagaria

  • Devulapalli Nagu
    Posted at 11:22h, 04 November Reply

    HDFC CGF is giving more returns comparatively SSY

  • Sooraj Kini
    Posted at 11:29h, 04 November Reply

    Hi Sir, but it’s an interest rate oriented product and if the interest rates are going to fall in the next 15/18 years, actually it’s a Depreciating asset. Ideally not recommended for anybody in the actual sense. To add to woes, the illiquidity is the spoiler. It’s any day better to do a staggered investment in ELSS / Non ELSS Funds even if you keep aside the Tax Saving benefit that SSY gives.

  • Dhanvriddhi Investments
    Posted at 18:15h, 04 November Reply

    Not a recommendable product for long term goal planning as suggested for higher education purpose. I converted many of my clients who wish to open sukanya samriddhi. Better option are HDFC CGF

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