Things to Note Before Investing in Sukanya Samriddhi Yojana
The Sukanya Samriddhi Scheme was launched in 2015 by the Indian Government. It is a savings deposit scheme introduced to enable individuals to invest and save for their daughter’s education and marriage.
Such accounts can be opened with a post office or any public or private sector financial institution.
The scheme accumulates interest quarterly on the deposited amount. Such interest rate depends on the government sector’s yields.
There are certain variables of Sukanya Samriddhi online, which you should consider before investing in the scheme. For instance, you need to open the account before your daughter reaches the age of 10.
You can only apply for a premature foreclosure when the account reaches 5 years. However, the interest rate in that event would be brought down to post office savings account rates.
As an alternative, you can consider investing in a fixed deposit wherein you are allowed to withdraw prematurely without affecting your interest-earning for such period.
Other than that, you need to keep your account active for a period of 15 years. During this time, you need to make a yearly investment of a minimum of Rs.250 and a maximum of Rs. 1.5 lakh.
You can make a premature withdrawal when your daughter reaches 18 years. The withdrawal should be to meet your daughter’s educational expenses. You can withdraw up to 50% of your deposit for that purpose.
The maturity period of such account is 21 years. However, you can decide to close the account before such period to meet your daughter’s wedding expenses.
SSY allows you to open one account per daughter with a maximum of two accounts per family. Exceptions are in the case of twins.
Such accounts can be opened with a post office or any public or private sector financial institution.
The scheme accumulates interest quarterly on the deposited amount. Such interest rate depends on the government sector’s yields.
There are certain variables of Sukanya Samriddhi online, which you should consider before investing in the scheme. For instance, you need to open the account before your daughter reaches the age of 10.
You can only apply for a premature foreclosure when the account reaches 5 years. However, the interest rate in that event would be brought down to post office savings account rates.
As an alternative, you can consider investing in a fixed deposit wherein you are allowed to withdraw prematurely without affecting your interest-earning for such period.
Other than that, you need to keep your account active for a period of 15 years. During this time, you need to make a yearly investment of a minimum of Rs.250 and a maximum of Rs. 1.5 lakh.
You can make a premature withdrawal when your daughter reaches 18 years. The withdrawal should be to meet your daughter’s educational expenses. You can withdraw up to 50% of your deposit for that purpose.
The maturity period of such account is 21 years. However, you can decide to close the account before such period to meet your daughter’s wedding expenses.
SSY allows you to open one account per daughter with a maximum of two accounts per family. Exceptions are in the case of twins.
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ReplyDelete(And by the way, it has absoloutely NOTHING to do with genetics or some hard exercise and really, EVERYTHING to around "how" they are eating.)
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