Sukanya Samriddhi Yojana, a savings program with an interest rate of 7.6%, was introduced as part of the Beti Bachao, Beti Padhao campaign.
For women, achieving financial equality, stability, and independence is crucial. On March 8th, we will soon be celebrating International Women’s Day. On this day, women who have made important contributions and successes are celebrated around the world. Many programs with a focus on women can help them plan for the future and provide long-term advantages.
Sukanya Samriddhi Yojana: What is it?
In 2015, the Sukanya Samriddhi Yojana (SSY) was introduced. It is a savings program that was introduced as part of the Beti Bachao, Beti Padhao program. With the aid of this scheme, parents can set up a savings account for their daughter at an authorized commercial bank or India Post branch.
The interest rate on SSY accounts is 7.6%. Based on your investment and period, you can determine your returns using a Sukanya Samriddhi Yojana calculator.
Eligibility for Sukanya Samriddhi Yojana
The woman must be an Indian citizen.
The young lady shouldn’t be more than ten years old.
Each household is only allowed to open one Sukanya Samriddhi Yojana account for a maximum of two daughters.
Calculator for the Sukanya Samriddhi Yojana
The girl child’s age and the needed investment amount should be entered into the calculator after someone qualifies for the Sukanya Samriddhi Yojana. 250 and 1.5 lakh rupees, respectively, are the program’s minimum and maximum payments.
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For instance, you made a 10-year investment of (about) Rs. 8,333 per month, or around Rs. 100,000, at an interest rate of 7.6%. With interest, you would be given Rs 15,29,458.