New Delhi, April 12, 2023: The Indian government has increased the interest rate on Sukanya Samriddhi Yojana (SSY) from April 1, 2023. The annual interest rate on investment in the scheme has been raised to 8%, providing greater financial security for the future of young girls in India.
Sukanya Samriddhi Yojana is a government-backed savings scheme designed to provide financial assistance for the education and marriage of young girls in India. Parents and guardians can open an account in the name of their daughter and make regular deposits until the account reaches maturity, which is 21 years from the date of opening.
The scheme has gained popularity among Indian families since its launch in 2015, as it offers higher returns than other savings schemes, tax benefits, and security for the future of girls.
With the recent increase in interest rates, the scheme is now even more attractive for parents who want to secure their daughter’s futures. By investing in this scheme, parents can accumulate a fund of lakhs of rupees for their daughter’s future education and marriage.
To open an SSY account, parents or guardians need to provide the necessary documents, such as the girl child’s birth certificate, address proof, and identity proof. The minimum deposit amount is Rs. 250, and the maximum is Rs. 1.5 lakh per annum. The account can be opened in any post office or authorized banks across the country.
Speaking on the development, a senior official of the Ministry of Finance said, “The increase in the interest rate on Sukanya Samriddhi Yojana reflects the government’s commitment to empowering the girl child in India. The scheme offers a secure and attractive investment option for parents to ensure a bright future for their daughters.”
In conclusion, the increase in interest rates on Sukanya Samriddhi Yojana provides an excellent opportunity for parents and guardians to invest in their daughters’ futures. With higher returns and tax benefits, the scheme is a reliable and secure investment option for those looking to secure their daughter’s financial future.