Sukanya Samriddhi Scheme of Post Office gives good return on investment. In this, the account of a girl child up to the age of 10 years can be opened.
Sukanya Samriddhi Scheme
As soon as the daughter is born in the house, the parents start adding money for her. In future, this money is useful for his marriage or education etc., but considering the decreasing interest rates in other savings schemes including FD, investing in Sukanya Samriddhi Scheme of the post office can be beneficial. For a girl child below 10 years of age, parents can open an account for her future. One can start investing in this with just Rs 250. Whereas maximum one can invest Rs 1.5 lakh annually.
The return on this i.e. interest rate is reviewed every quarter. At present, the return on investment in this scheme is 7.6 percent per annum as interest rate. The interest earned in the form of return in this scheme is tax free. For investment in Sukanya Samriddhi Scheme, accounts can be opened in any post office. It has to be invested for 15 years.
when do you get money
Generally, you can withdraw money in Sukanya Samriddhi Scheme only when the daughter turns 18 years old or has passed at least 10th. This account will mature when your daughter attains the age of 21 years. Then the full amount can be withdrawn. In Sukanya Samriddhi account can be opened in the name of only two daughters of a family.
account closure process
The account will mature when the daughter turns 21, then its term will be completed. If you want to close it before maturity, then you can close the account after the daughter’s marriage completes 18 years. Apart from this, in the event of the death of the guardian, even if there is a life-threatening illness, there is a facility to close the account after completing the process. In Sukanya Samriddhi Scheme, the account can be operated by the parents of the girl child till she attains majority.
Also read: Mutual Fund: You can create crores of funds by saving 500 rupees, this work will have to be done for investment
.
