One of the most popular schemes launched in 2014 as a part of “Beti Bachao Beti Padhao” campaign is the “Sukanya Samriddhi Scheme”. This scheme not only helps to meet daughter’s education and marriage expenses but also provides tax benefits with high returns.

It is a small deposit scheme for girl children. It can be opened anytime from birth till she reaches the age of 10 years. Also, the deposit requirement to maintain the account is minimum of Rs.250, but the deposit can extend to maximum of Rs. 1,50,000 in a year.

The scheme secures the money till 21 years from the date of opening of the account. If the girl child gets married anytime earlier, account shall be operative only till then. However, the investments need not be made for all 21 years. On completion of 15 years of account, no further deposit shall be required, but interest earning shall continue till account operation.

As the purpose of the scheme is crystal clear to secure education & marriage needs, there is no premature withdrawal option. However, in extreme medical situations, premature withdrawal is possible after 5 years of account completion. Other reasons could be held valid for withdrawal with reduced interest.

Ideally on attaining the age of 18 years the higher educational need arises. The scheme is designed considering these factors, thereby allowing 50% withdrawal for educational purposes on girl child attaining age of 18 years.

Surprisingly, this scheme not only helps to secure the future of girl child but the tax benefit is a tag along not be missed.
All eyes are on this  Exempt-Exempt-Exempt (EEE) status tax investment product with high interest income. The EEE in the scheme is the investment made, interest earned & the maturity proceeds. The interest income is also as high as 7.6% as on today (01.07.2020 to 30.09.2020), which comes with sovereign guarantee.

It is very simple to invest in this scheme by opening an account in any post office or authorised branches of commercial banks. In this COVID situation, one need not risk visiting the branches but rather invest through electronic modes. Also, one has the option to transfer the account anywhere in India from one post office/bank to another.

Let’s secure the future of daughters with the Sukanya Samriddhi Scheme. It is the perfect match with sovereign guarantee, tax benefits & high interest.