Sukanya Samriddhi Yojana Scheme, Eligibility Criteria and Advantages

Sukanya Samriddhi Yojana Scheme

We all know that a girl education shows more advantageous to the whole family. Sukanys Samriddhhi Yojana is the scheme initiated by Indian Prime Minister Sir Narendra Modi. This scheme comes under the campaign of Beti Bacho Beti Padhao. The main initiative behind the scheme is to support parents in order to secure their savings for the future of their girl child.

Through this scheme, girl children hold financial support from the Indian Government and they can achieve what they dream of. This article is going to explain a clear way of how people can register for SSY scheme and gain benefits.

SSY Benefits

People who initiate their investments in this scheme can avail themselves of numerous benefits where those are explained below:

  • More Interest Rates – When compared with other government-supported schemes, SSY provides higher interest rates of nearly 7.5%
  • Compounding – As it is a long-term scheme so people can gain the benefit of compounding. This specifies that investing a minimal amount of money will provide higher returns.
  • Benefits through tax – SSY scheme offers tax deduction advantages up to an amount of 1.5 lacs per annum
  • Investments are simple – People can invest amount ranging from Rs 250 0 1.5 lacs so that people with different financial ranges can afford this scheme
  • Flexible transfers – This scheme offers the flexibility of transferring between various countries

Documents Required for SSY Scheme