Sukanya samriddhi yojana eligibility

Sukanya Samriddhi Yojana Eligibility|Eligibility for sukanya samriddhi yojana|Sukanya samriddhi yojana age eligibility 

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the benefit of the girl child in India. It was launched by the Government of India in 2015 to promote the welfare of the girl child and encourage parents to save for their daughter’s future. The scheme is a part of the Beti Bachao, Beti Padhao campaign and is targeted towards families with a girl child.

 Sukanya Samriddhi Yojana Eligibility Criteria 

To open a Sukanya Samriddhi Yojana account, the following eligibility criteria need to be fulfilled:

1. Age of the Girl Child: The account can be opened in the name of a girl child who is below 10 years of age. The account can be opened by the parents or legal guardians of the girl child.
2. Citizenship: The girl child should be a citizen of India.
3. Number of Accounts: Only one account can be opened for each girl child.
4. Documentation: The parents or legal guardians of the girl child need to provide the necessary documents to open the account, such as the birth certificate of the girl child, identity proof of the parents or legal guardians, and address proof.
5. Deposits: The account can be opened with a minimum deposit of Rs. 250, and a maximum of Rs. 1.5 lakh can be deposited in a financial year. The deposits can be made in multiples of Rs. 100.
6. Tenure of the Account: The account has a tenure of 21 years from the date of opening, or till the girl child gets married after the age of 18 years.
7. Interest Rate: The interest rate offered on the scheme is fixed by the government and is subject to change from time to time. Currently, the interest rate is 7.6% per annum.
8. Tax Benefits: The contributions made to the account are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. The interest earned on the account is also tax-free.

Advantages of Sukanya Samriddhi Yojana:

1. Financial Security for Girl Child: Sukanya Samriddhi Yojana provides financial security for the girl child. The funds accumulated in the account can be used for various purposes, such as education, marriage, or any other expenses related to the girl child’s future.
2. Attractive Interest Rate: The interest rate offered on the scheme is higher than other savings schemes. The interest is compounded annually, which helps in accumulating a significant amount over time.
3. Tax Benefits: The contributions made to the account are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. The interest earned on the account is also tax-free.
4. Flexibility in Deposits: The scheme offers flexibility in deposits, and the amount can be deposited in multiples of Rs. 100. This makes it easier for parents to save for their daughter’s future, according to their financial capacity.
5. Easy Account Management: The account can be easily managed online, and the deposits can be made through online or offline modes. The account can also be transferred to any part of the country, making it easy for the girl child to access the funds.

Sukanya samriddhi yojana age eligibility

The Sukanya Samriddhi Yojana (SSY) scheme is aimed at promoting the welfare of the girl child and encouraging parents to save for their daughter’s future. The scheme has certain eligibility criteria that need to be fulfilled to open an account for the girl child. One of the primary eligibility criteria is the age of the girl child.

According to the rules of the scheme, a Sukanya Samriddhi Yojana account can be opened in the name of a girl child who is below 10 years of age. This means that the girl child should be born on or after the 2nd of December 2005 to be eligible for the scheme.

The scheme allows parents or legal guardians of the girl child to open the account on behalf of the girl child. Only one account can be opened for each girl child, and the account can be opened with a minimum deposit of Rs. 250.

The account has a tenure of 21 years from the date of opening, or till the girl child gets married after the age of 18 years. The contributions made to the account are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, and the interest earned on the account is also tax-free.

In conclusion, the age eligibility for Sukanya Samriddhi Yojana is that the girl child should be below 10 years of age at the time of opening the account. The scheme offers a great investment option for parents who want to save for their daughter’s future and secure their financial stability.