The government launched the Sukanya Samriddhi Yojana (SSY) under the Beti Bachao, Beti Padhao initiative to support the welfare of the girl child. This scheme provides financial security and long-term benefits. SBI Sukanya Samriddhi Yojana allows parents or legal guardians to open an SSY account in the State Bank of India (SBI), offering competitive interest rates and tax benefits under Section 80C of the Income Tax Act.
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To open an SSY account, the following documents are needed:
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An SSY calculator helps in estimating the maturity amount based on:
The SBI Sukanya Samriddhi Yojana account helps secure the financial future of a girl child through an excellent savings scheme. With high-interest rates, tax benefits under Section 80C, and long-term savings, it remains a preferred choice among parents. Opening an SSY account with SBI ensures safety, security, and guaranteed returns.
No, you need to visit the SBI branch to open an SSY account. Online account opening is not available.
The interest rate is revised quarterly. It usually ranges between 7% to 8% per annum.
No, the maximum deposit limit per financial year is Rs. 1.5 lakh.
You can make a partial withdrawal of up to 50% after the girl turns 18 years old.
Yes, you can transfer the SSY account to any authorized bank or post office within India.
A penalty of Rs. 50 will be charged for missing the minimum deposit requirement.
Yes, SSY generally offers higher interest rates and tax-free returns, making it a better choice for long-term savings.
Yes, both parents or legal guardians can deposit into the SSY account, but the total deposit cannot exceed Rs. 1.5 lakh per year.
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