But, there are not many male child saving schemes introduced in the market by post offices. The new rate each year is decided by government based on market fluctuation and government policy. This post office small savings scheme was first launched in 2015 under the Beti Bachao Beti Padao campaign. Sukanya Samriddhi Yojana is a govt scheme for the girl Child however very few people know that sukanya samriddhi account can be opened in post office as well. Gender discrimination is one of the grave problems we all face in India. Any suggestions. The parent and minor child can open the joint Post Office recurring deposit account. KVP is a government investment scheme wherein an individual can invest their saving in lump-sum and each year thereafter government pays interest at a predetermined rate. When the daughter attains the age of 21, a provision has been made to withdraw the entire money. What is TDS ? So let’s know what is Sukanya Samriddhi Yojana and what is the benefit of this scheme. The ‘Ponmagan Podhuvaippu Nidhi’ was launched during September 2015. Under this scheme, the account of daughters below 10 years is opened. The parent or legal guardian can open KVP account on behalf of their minor male child. Learn how your comment data is processed. If you are planning to invest for your children, these standard Post Office Saving schemes can be considered as a viable option: National Savings Certificate (NSC) has been into the market since the early 1950s’. Required fields are marked *. Post Office Sukanya Samriddhi Yojana (SSY) is a Govt. So, for other Indian citizens apart from people investing in Tamil Nadu post offices, there are a bulk of options. Money will be allowed to be withdrawn only after thorough investigation. What is Commodity Trading in India? Any ideas for it. Note: Only one account can be opened in the name of one girl child (One girl child = One SSY account), You may also like: Post Office Saving Schemes for Boy Child. Note: The above-said scheme is only applicable in Tamil Nadu and thus does not cover whole of India. Parent or legal guardian): PAN card, Ration card, Driving License, Passport, Address Proof of depositor (i.e. Under Sukanya Samriddhi Yojana (Sukanya Samriddhi SSY Yojana Information ), parents (Sukanya Samriddhi SSY Yojana Information) have to invest in their daughter for 14 years after opening their account. Any amount over and above Rs.1.5 lakh is not eligible for any tax benefit. Monthly Rs.1000/- or 1500/- plan. We shall be happy to discuss regarding the same. Any contribution made under the SSY scheme, an individual (parent or legal guardian who is making such contribution under SSY scheme) can claim tax benefit and deduction up to a limit of Rs.1.5 lsakh in a year under the section 80C of Income tax act. Which feature plan is better, can u tell? Thus, above are a few mentioned child saving plans offered and managed by Post Offices. The name of this scheme launched Thus government preposition has been a fruitful campaign for all girl child. Sukanya Samriddhi Account Yojana in Post Office (SSA or SSY) Sukanya Samriddhi Account Yojana has brought in a lot of relief to the Indian parents and guardians as it promises a viably secure future for the girl child at the time of her higher education and marriage and she would no more considered a financial burden on the family. A lot of fruitful schemes have been launched to benefit both female and male children in India. You can close Sukanya Samriddhi Yojana account. As an account holder, you can add your savings on monthly basis and earn fixed interest on it. Any suggestions. In case an individual is interested to open SSY account, one must submit the requisite documents in the post office. Best Trading Platform in India: Online Portals by Stock Brokers, Identity Proof of depositor (i.e. Get FREE Share Investment Account, Zero Brokerage on Equity Delivery/Long Term Stock Investment, *Powered by Zerodha: The No.1 Discount Broker in India*, A Quick Link to Open Free Equity Investment Account with Zerodha. In this scheme, when the daughter attains the age of 18 years. The SSY account holder would be allowed to prematurely close the SSY account subject to certain conditions. The rate of interest earned on SSY scheme is decided by the government. Note: At the time when this scheme was first introduced, one year grace period (in case of age determination) was given for every girl child who is born between 2.12.2003 & 1.12.2004. NSE IPO Review: Date, Price, Size, Details Of National Stock Exchange IPO, Best Savings Bank Account in India: Interest rate & Features, 5 Tips to Finding a Great London Office Space on a Budget, What are Large Cap Mutual Funds: Meaning & Performance. You can also enjoy Free Equity Delivery with the Biggest Discount Broker in India: Open Instant Demat & Trading Account @ Zerodha. Sukanya Samriddhi Yojana Post Office पर मिलने वाले ब्याज पर टैक्स से छूट मिलती है। एक अन्य टैक्स लाभ भी है, मूल आयकर अधिनियम की धारा 80C के … In this scheme you can open a savings account in your daughter’s name. Indian Post Office also offers their customers with an option to open a 5-year Post Office recurring deposit (RD) account. The name of this scheme launched for daughters is Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana). Through this scheme, savings account is opened in the post office of daughters under Beti Bachao Beti Padhao scheme across the country. I want to invest for my son’s education. For information, tell us that the daughters are under 10 years of age, the account is opened under Sukanya Samriddhi Yojana. Your email address will not be published. The investor (depositor) needs to provide transfer application at either the old or new post office requesting for the transfer. An amount equal to 50% of the total accumulated deposit amount can only be partially withdrawn. Also the hard copy of the form is available at all post offices, one can any time collect and fill and submit the same. Post Office Sukanya Samriddhi Yojana (SSY) is a Govt. In such a situation, the Sukanya Samriddhi Yojana (Sukanya Samriddhi SSY Yojana Information) by the Central Government is much more beneficial for the parents of daughters. Under this scheme, a very high interest rate is being paid into the account. Thus to bring in parity between girl and boy financial stability, Indian Government has launched “Beti Bachao Beti Padhao” programme to ensure girl child birth future. We discuss about Post office Sukanya Samriddhi Yojana Scheme Details, how to open an account and tax benefits in this blog. SSY account is very much similar to saving deposit account. Post Office offers nine type of saving schemes. Then the post office under which he or she has first opened the account can allow the inter location post office transfer of the SSY account. In case of major liquidity crunches the parent or legal guardian as the case may be can also pledge the SSY scheme account and obtain Loan against the accumulated deposit. If you have opened Sukanya Samriddhi SSY Yojana Information to secure your daughter’s future. The post office has been the oldest organization which has helped the Indian citizen to cultivate and nurture the saving and investment habits. And has faced a shortage of money, then you can close the Sukanya Samriddhi Yojana account ahead of time. India Post, Ministry of Communication & Technology Sukanya Samriddhi Account JavaScript is a standard programming language that is included to provide interactive features, Kindly enable Javascript in … The transition of NSC from fund generating investment scheme to tax saving investment scheme was much later. Which is the Financial Capital of India? The post office offers specific girl child saving scheme offered named Sukanya Samriddhi Yojana. So, kindly confirm the same from respective Post office before investing. TDS Rate Chart for Financial Year 2016-17, Reliance vs. Amazon: Clash of the E-commerce Giants, Top 10 FMCG Companies in India: Leading & Best Companies List, High Return Investments in India: 6 Best Investment Options 2021, CFA Level 1 Pass rate: Latest Passing Rates & Statistics, Top 10 Best Instant Personal Loan Apps in India, Green Banking in India: A Research Study on Strategies. Besides this, if you like to invest in stocks and thinking to explore the stock market world, you can visit Best Discount Brokers in India: Top List 2020. Learn how your comment data is processed. Aggregator’s services-Caught in the Service tax net ! The NSC during the beginning was issued with an intention to raise money for helping the development of India. The SSY account can be opened any time before the girl child reaches the age of 10 years.