Benefits of Sukanya Samriddhi Yojana for Girl Child by Govt of India

Sukanya Samriddhi Yojana, initiated by the Government of India, is exclusively tailored to cater to the financial savings and future prospects of female children. It offers financial security, independence, and a promising future for a girl child. According to the provisions of this girl child program, individuals can deposit a minimum of Rs. 250/- and a maximum of Rs. 1,50,000/- per annum.

Read more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

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

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
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
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8%

Yearly Investment

You can invest maximum upto ₹1,50,000

Girl's Age

Maximum age should be 10 years
Yrs

Start Year

Investment term is 21 years
Total Investment
Total Interest
Total Investment

Total Interest

Maturity Year

Maturity Value

Amount you will get
Explore Tax Saving Funds

Benefits of Sukanya Samriddhi Yojana for Girl Child

Sukanya Samriddhi Yojana offers multiple benefits to its investors and beneficiary. Let us look at some of them:

  • Higher Interest Rate: The scheme acts as insurance for girl child. It offers a higher interest rate than most other savings schemes in India. The current interest rate offered under the scheme is 8.0%. The central government revises interest rates every quarter, which ensures growth of savings at a faster rate.

  • Tax Benefits: Sukanya Samriddhi Yojana offers tax benefits under Section 80C of the Income Tax Act. The contributions made towards the scheme are eligible for a tax deduction of up to Rs. 1.5 lakh per annum. The interest earned and maturity amount are also tax-free, which means that the entire amount can be withdrawn without any tax liability.

  • Long Term Savings: A long-term savings scheme, SSY is designed to help parents save for their daughters' future education and marriage expenses. The scheme has a tenure of 21 years ensuring that the savings grow significantly over time. Moreover, the scheme allows partial withdrawals after the girl child attains the age of 18 years, which can be used for higher education or other expenses.

  • 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. 

  • 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.

People also read: Best Child Plan

How To Open a Girl Child’s SSY Account?

Below are the steps one can follow to open a Sukanya Samriddhi Account:

  • Visit the nearest branch of the bank or post office and collect the application form.

  • Complete the application form and submit it along with the essential documents.

  • Pay the deposit amount ranging between INR 250 to INR 1 lakh.

The bank or post office will verify the details provided by the depositor. Upon its acceptance, a Sukanya Samriddhi Yojana account will be opened under the name of the girl child.

Investment Investment
Secure Secure
Child Banner
Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply

SSY Comparison with Other Investment Options 

The table below shows a comparison of Sukanya Samriddhi Yojana with other investment options.

Investment Option Returns Lock-in Period Tax Benefits Risk
Sukanya Samriddhi Yojana 7.6-8.5% p.a. 21 years or until maturity Tax-free Low
Public Provident Fund (PPF) 7.1% p.a. 15 years Tax-free Low
Fixed Deposits 4-6% p.a. 7 days to 10 years Taxable Low
Real Estate Varies based on market performance Long-term investment Tax on rental income and capital gains High

People also read: Sukanya Samriddhi Yojana Calculator

Wrapping Up!

Investing in different schemes is one of the best ways to build up a sufficient corpus for your girl child’s education. With the Sukanya Samriddhi Yojana, you can regularly invest a small portion for a specified period to reap significant benefits in the long run.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3

Child plans articles

Recent Articles
Popular Articles
Sukanya Samriddhi Yojana Online Payment

10 Jun 2024

The Sukanya Samriddhi Yojana (SSY) is a government-backed
Read more
Sukanya Samriddhi Yojana Passbook Online

07 Jun 2024

The Sukanya Samriddhi Yojana (SSY) is a government scheme in
Read more
Pradhan Mantri Matru Vandana Yojana

06 Jun 2024

The Pradhan Mantri Matru Vandana Yojana (PMMVY), launched in
Read more
Child Education Planner

05 Feb 2024

Ensure your child's dreams come true with a Child Education
Read more
Indian Bank Education Loan

16 Jan 2024

Indian Bank stands tall as a reliable partner in your academic
Read more
Top 12 Government Schemes for Girl Child
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
Prime Minister Schemes For Boy Child
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
Sukanya Samriddhi Yojana Calculator
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that aims to create a corpus to
Read more
Best Child Investment Plans to Invest in 2024
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL