DelhiDesk The Sukanya Samriddhi Yojana (SSY) is a government-backed small saving scheme in India that helps parents save for the long-term financial requirements of their girl child. The scheme allows investors to invest until their girl child becomes 14 years old and offers a completely risk-free investment option. The government of India is currently offering an SSY interest rate of 8% per annum, which is paid on a quarterly basis. An SSY calculator can help investors determine their potential returns, and the scheme offers income tax benefits under Section 80C of the income tax act. Investors can claim tax exemption on up to 1.5 lakh invested in the SSY account in a single financial year, and the SSY interest earned and maturity amount are 100% tax exempt.
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– SSY is a government-backed small saving scheme for long term financial requirements of girl child
– Investor can invest until girl child is 14 years old and withdraw 50% maturity amount at 18 and full maturity at 21
– Government of India gives SSY interest rate of 8% per annum, paid quarterly
– SSY calculator shows that investing 10,000 per month can result in a maturity amount of around 51 lakh after 21 years
– Investor can claim income tax benefit on up to 1.50 lakh invested in SSY account in a single financial year under Section 80C of the income tax act
– SSY interest earned and maturity amount are 100% tax exempted, making it an EEE investment instrument
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