If you are planning to invest in the coming days then you can invest in Post Office Savings Schemes.Â
You will definitely get good returns in these plans. Whereas the money invested in it is completely safe. If the bank defaults, you will get back only Rs 5 lakh. But this is not the case in the post office.
Also, a very small amount can be invested in the Post Office Savings Scheme. Sukanya Samriddhi Yojana (SSY) is one of the post office small savings schemes. Let us know about this scheme in detail.
Interest Rate
The post office’s Sukanya Samriddhi Yojana currently offers an annual interest rate of 7.6 percent. This interest rate is applicable from 1st April 2020. The interest is calculated and calculated in this small savings scheme.
Amount of Investment
In this government scheme, a person has to invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh in a financial year. Thereafter you have to deposit in multiples of Rs. The deposit has to be made in lump sum. There is no limit on the number of deposits per month or in a financial year.
Who can open an account?
Under Sukanya Samriddhi Yojana, parents can open an account in the name of a child below the age of 10 years. In this small savings scheme, only one account can be opened in the name of the girl child in any post office or any bank in India.
This account can be opened for maximum two daughters in the family. If there are twins or triplets, more than two accounts can be opened.
Get Tax Deduction
The amount deposited in this government scheme can be claimed as a deduction under section 80C of the Income Tax Act.
When will the account mature?
The account in this post office scheme will mature after 21 years from the date of opening. Apart from this, it can also be stopped at the time of marriage after the girl turns 18. This has to be done one month before or three months before the date of marriage.
