5 Benefits of Sukanya Samriddhi Yojana for Girl Child by the Govt. of India

Sukanya Samriddhi Yojana is a savings scheme for the girl child launched as a part of the Government’s 'Beti Bachao Beti Padhao' campaign in 2015.A Sukanya Samriddhi Account can be opened any time before the girl child turns 10 years old. Under this scheme, a minimum of Rs.250/- and a maximum of Rs.1,50,000/- can be deposited in a year. 

Read more
Best Child Saving Plans
  • Insurer pays your premiums in your absence

  • Invest ₹10k/month and your child gets ₹1 Cr tax free*

  • Save upto ₹46,800 in tax under Section 80(C)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

There are many benefits of saving through Sukanya Samriddhi Yojana. Let us highlight five of them:

  1. High-Interest Rate

    Sukanya Samriddhi Account offers an interest rate of 7.6% for the current financial year. When compared to other savings plans, the interest rate provided by this investment policy is the highest.

    Every year, the Govt. of India declares the interest rate for this scheme for the current Financial Year. Further, interest in this scheme is compounded yearly. 

  2. Income Tax Savings

    Income tax is exempted from the contribution made to this account under Section 80 C of the Income Tax Act. Exemption on this scheme is available on the interest and also at the time of withdrawal. This scheme is under the authority of the Department of Revenue (DOR). 

  3. Lock-in Period

    The lock-in period is one of the best features of this scheme. The maturity of the policy is fixed at twenty-one years from the date when the account was opened or till the marriage of your girl child (whichever comes earlier). The age of your daughter at the time of marriage has to be 18 years.

    The account cannot be operated after the marriage of your child. 

  4. Premature Withdrawal of Funds

    Parents can opt for premature withdrawal from the account once the girl child attains 18 years of age and require funds for Higher Education.

    However, only 50% of the account balance can be withdrawn in case of premature withdrawal at the end of the previous financial year. One can deposit money in the account for 15 years from the date of opening the account. 

  5. Guaranteed Maturity Benefits

    When the Sukanya Samriddhi Account reaches the maturity date, the account balance, including the accumulated interest, is directly paid to the policyholder (girl child in this case). This is primarily done to render financial independence to the girl child, thereby acting as an efficient tool for their empowerment in India.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Wrapping Up!

One of the best ways to build up a sufficient corpus for your child’s education is to keep aside a portion of your savings or invest in the equity market. With the Sukanya Samriddhi Yojana, you only need to invest a small portion of your savings in the account and reap significant benefits in the long run. Looking at the high rate of interest, one can certainly build an adequate corpus to provide a brighter future to their girl child.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

“Tax benefit is subject to changes in tax laws. Standard T&C apply.” 

Child plans articles

Recent Articles
Popular Articles
Government Plans For Girl Child

29 Apr 2022

India's State and Central Governments have introduced novel...
Read more
Girl Child Savings Plan For A 12-Years Old

29 Apr 2022

At 12 years of age, your girl child should have developed some...
Read more
SBI Life Investment Plan For Girl Child

29 Apr 2022

The best investment plan for a girl child is one that allows...
Read more
India Post New Plans For Girl Child

29 Apr 2022

As women are being recognized for their leadership and...
Read more
ICICI Pru Girl Child Plans For NRIs

29 Apr 2022

As an NRI, you not only have the responsibility of ensuring your...
Read more
Best Child Investment Plans to Invest in 2022
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial...
Read more
LIC Policy for Girl Child in India
A child insurance plan is a plan that acts as a blend of investment and savings while also providing the child...
Read more
Best Child Insurance Plans in India
A child insurance plan is a combination of savings and insurance, which help the individuals to plan for the...
Read more
Best Investment Plans for Girl Child in India
The right kind of investment of your hard-earned money is necessary, but when it comes to your child, making...
Read more
Prime Minister Schemes For Boy Child
Like the Prime Minister’s Sukanya Samriddhi Yojana savings scheme for a girl child, there are several...
Read more
Download the Policybazaar app
to manage all your insurance needs.