Sukanya Samriddhi Yojana 2024: A Comprehensive Guide
Sukanya Samriddhi Yojana (SSY) is a notable initiative by the Government of India aimed at securing the future of girl children. Here's a detailed breakdown of the scheme, including eligibility criteria, interest rates, account opening procedures, and more.
Scheme Overview:
Scheme Name: Pradhanmantri Sukanya Samriddhi Yojana
Beneficiary: Girl Child
Age Limit: 0-10 years
Minimum Monthly Deposit: ₹250
Maximum Annual Deposit: ₹150,000
Installment Period: 15 years
Eligibility Criteria:
To avail the benefits of Sukanya Samriddhi Yojana, certain qualifications must be met:
- Age Limit: The girl child must be below 10 years of age at the time of account opening.
- Account Holder: The account can only be opened in the name of the girl child. Opening it in the name of parents disqualifies from receiving benefits.
- Number of Accounts: Only two accounts can be opened in a family for two girl children. However, if there are twin girls, three accounts can be opened.
Interest Rate:
As of 2024, the interest rate for Sukanya Samriddhi Yojana stands at 8.2%. This interest is compounded annually and credited to the account.
Deposit and Returns Calculation:
For a clearer understanding, let's consider an example:
- If you deposit ₹1,000 monthly, you would accumulate ₹12,000 annually.
- Over 15 years, with an 8.2% interest rate, the total accumulated amount would be approximately ₹3,29,000.
- Upon maturity, when the girl child reaches 21 years of age, she would receive around ₹5,00,000, with an approximate benefit of ₹3,29,000.
Account Opening:
Opening a Sukanya Samriddhi Yojana account is a straightforward process:
- Offline Procedure: Forms can be downloaded online, filled with requisite details, and submitted along with necessary documents like the birth certificate of the girl child, parent's identification proof, and photographs.
- Online Availability: While some banks and post offices offer online account opening, many require offline submission of forms.
- Submission: After completing the form and attaching relevant documents, it must be submitted to the nearest bank branch or post office for verification.
- Approval: Once verified, the account is opened, and monthly deposits can be made according to the chosen budget.
Frequently Asked Questions:
- Interest Rate: The interest rate for Sukanya Samriddhi Yojana in 2024 is 8.2%.
- Duration: Installments need to be paid for 15 years. Upon maturity, the accumulated amount along with interest is received when the girl child turns 21.
Sukanya Samriddhi Yojana stands as a beacon of financial security for the future of girl children in India. By taking advantage of this scheme, parents can ensure a bright and secure future for their daughters. nsiindia.gov.in