Read further to know about various aspects of Sukanya Samrisshi Yojana. Total amount invested at the end of 15 years: Rs 45 lakh, The interest rate at the end of 15 years: Rs 3, 42, 000, a) If a girl child is born after the birth of twin or triplet girls, then the parents of the child can open a third SSY. Currently, the Sukanya Samriddhi Yojana interest rate is 7.6% compounded annually. Sukanya Samriddhi Yojana (SSY): The popular girl child savings scheme Sukanya Samriddhi Yojana account will earn an interest rate of 7.6% in this quarter. Tax exemption can be claimed U/S 80C of the Income Tax Act on the investment made towards the scheme up to the maximum limit of Rs.1.5 lakh. An individual family can open only two SSY accounts on the name of each girl child. Calculated on yearly basis , Yearly compounded. An individual can start investing in SSY with a minimum of Rs.250 and can invest up to a maximum of Rs.1.5 lakh in a financial year. IRDAI/WBA21/15 Valid till 13/07/2021. The government of India declares the interest rates at the starting of every quarter of the financial year. | The Newshour Agenda, 26/11 terror attack mastermind could be in custody soon, Blow to Islamist deniers? The account can be opened at any India Post office or branch of authorised commercial banks. Sukanya Samriddhi Account fetches a lower rate of interest at 8.4 per cent, down by 0.1 per cent, respectively, from the previous rate of 8.5 per cent. Sukanya Samriddhi Yojana Interest Rate 2020. Watch Leaders of Tomorrow Season 8 eAwards on 13th of September 2020, 5pm onwards on Times Network. Subsequently, the parents/legal guardian can deposit any amount in multiples of Rs 100. The interest rate on Sukanya Samriddhi Yojana has compounded annually. Deposit Limit: Minimum INR. The government of India fixes the rate of interest of the scheme and is revised on a quarterly basis. Now parents invest as well as save to fund their daughter's education. According to the State Bank of India's (SBI) official website, www.sbi.co.in- "The maximum accounts that can be opened for up to two girl children or three in case of twin girls as second birth or the first birth itself results in three girl children.". However, Sukanya Samriddhi Yojana scheme can be opened for more than two girls in some special cases like: A minimum amount of Rs 250 has to be deposited initially. The SSY scheme matures once the girl child attains 21 years of age. Maradona’s net worth before his tragic death will shock you! 06 Registration Code No. However, it may be noted that the maximum period up to which deposits can be made is 15 years from the date of opening of the account. However, it may be noted that the maximum period up to which deposits can be made is 15 years from the date of opening of the account. Q: Is Sukanya Samriddhi Yojana interest rate the same in all the private and public sector banks? Only one account can be opened in the name of a single girl child. | India Development Debate, Farm Fury Spills Onto The Streets | India Development Debate. This scheme was launched with an objective to promote the welfare of the girl child. Sukanya Samriddhi Yojana Interest Rate 2020-21 : Sukanya Samriddhi Scheme PPF. In addition to this, in case of the uncertain demise of the parent or if any medical emergency happens, the premature withdrawals can be made after completion of the 5 years of the scheme from the date of initiation. Hence, the amount is almost doubled by investing in this guaranteed return investment in the long term. b) If a girl child is born before the birth of twin or triplet girls, or the triplets are born earlier, then a third SSY account can be opened. In order to transfer the account from post-office to bank and vice-versa, the subscriber is required to submit the address of residential change. Open Sukanya Samriddhi account with HDFC Bank today. 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One of the major advantages of SSY is that it offers a higher interest rate as compared to the other savings scheme. Some of the benefits of SSY calculators are: The SSY calculator uses the following formula to produce the result: n= The amount of times interest is compounded during a year. The account can be opened by the parent of the girl child below the age of 10 years. Sukanya Samriddhi Yojana account can be managed by the guardian or parent of the girl child until the girl turns 10 years old. **Discount is offered by the Insurance company as approved by IRDAI for the product under File & Use guidelines #On the basis of your profile, CIN: U74999HR2014PTC053454 Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited) Policybazaar is currently registered as a Web aggregator by IRDAI. PPF: After 5 years only in case of Severe Illness, Higher Education and NRI status. Currently, the Sukanya Samriddhi Yojana interest rate stands at 7.6%. Only the parent and legal guardian of the girl child is allowed to open the Sukanya Samriddhi account in the name of the girl child. Get the latest investment tips at Times Now and also for more news on money saving tips, follow us on Google news. | Newshour Debate, Is The Bitcoin Mania Back? The parents of the legal guardian of the girl child can avail the Sukanya Samriddhi Yojana by opening a savings account in their nearest post office or any authorized commercial bank. The maturity tenure of the account is until the girl reaches the age of 21 years. Currently, the Sukanya Samriddhi Yojana interest rate stands at 7.6%. Sukanya Samriddhi Account: INR. The Sukanya Samriddhi Account Rules, 2016 was rescinded on 12 December 2019 and the new Sukanya Samriddhi Account Scheme, 2019 was introduced. The scheme allows the guardian of the girl child to open the savings account for their girl child in any authorized commercial bank or Indian Post Office. It helps to build a healthy corpus for the future education and marriage of the daughters. Home » Investment » Sukanya Samriddhi Yojana Interest Rate 2020. Along with securing the financial future of the girl child, there are many other benefits offered by Sukanya Samriddhi Yojana. However, as per the withdrawal rules, the 50 per cent of the balance lying in the account as at the end of the previous financial year for the purpose of higher education, marriage after attaining the age of 18 years. The scheme tenure is of 21 years till or unit the girl gets married after the age of 18 years. This scheme was specifically launched to secure the financial future of the girl child.
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