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Sukanya Samriddhi Account Scheme - Financial Plan for Daughters

Published on Tuesday, March 24, 2015
In an initiative to change mindset of people towards females Government of India launched. This scheme has been launched to help parents to make a long term financial plan for their daughters.

Purpose 

  • This scheme has been launched with a sole objective to enable parents to make strong financial plan for marriage and higher education of female child. 

Lock-in period

  • Account will be matured after 21 years or marriage of girl whichever is earlier. Money will be directly deposited to account of Girl. 
  • Pre-mature withdrawal is not allowed until the girl become 18 years old.

Tax-saving

  • Investment made under Sukanya Samriddhi Account' Scheme will be exempted from Income tax under 80c, There is maximum limit of Rs.150,000
  • Interest accrued is also tax free
  • Withdrawals as per rules are also tax free

Benefits

  • Accounts can be closed if the parents are feeling hard to invest
  • Can be opened with initial deposit Rs.1000
  • Interest will be paid even after maturity if the account holder wants to continue the account
  • High interest rate - 9.1% (For the year 2014-15). This is the highest interest rate among all the saving schemes by PSU banks and Central government.
  • This account can be transferred anywhere in India

Must read 


As per my opinion PPF is the best tax free investment option but again the goal  Sukanya Samriddhi Account Scheme is to save money for Girl's higher education and marriage while PPF is a tax-saving investment.
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