Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
Sukanya Samriddhi Yojana is a government savings scheme for girl children under 10, offering high interest and EEE tax status till age 21 maturity.
SSY is a special account for daughters — save till she turns 21 with tax-free returns and 80C benefit on deposits.
Account opened in post office or authorised banks for girl child below 10. Deposit till 15 years from opening; matures at 21. Partial withdrawal 50% allowed at 18 for education. Current interest among highest small savings rates. Maximum ₹1.5 lakh annual deposit.
Open SSY at daughter's birth, deposit ₹1 lakh yearly for 15 years at 8.2% — corpus roughly ₹28 lakh tax-free at maturity when she turns 21.
One account per girl child, maximum two accounts per family (three if twins/triplets in second birth).
Account may continue till 21 per rules. Partial withdrawal at 18 permitted for higher education expenses.
SSY offers guaranteed rate and tax-free status. Equity MF may deliver higher returns with volatility for long education goals.