For the April-June 2023 quarter, the government has raised the interest rate of Sukanya Samriddhi Yojana (SSY) by 40 basis points (bps). SSY is a special scheme designed for the benefit of the girl child, where a natural or legal guardian can open an account in the name of a girl child from birth until she reaches the age of 10 years. The latest interest rate for Sukanya Samriddhi Yojana has been increased from 7.6% to 8% for this quarter.
SSY offers tax benefits, including a Section 80C deduction for the annual contribution and tax-free maturity benefits. It is important to note that the maximum investment limit for SSY is Rs 1,50,000.
What documents are required for opening SSY account
The following documents are required:
1) SSY Account Opening form
2) Birth Certificate of the girl child, having the child’s name on it
3) Photograph of the parent/ legal guardian of the girl child
4) KYC Documents (Identity & Address Proof) of the parent/ guardian
Disclaimer: The information provided in this post is based on online sources. However, the reader is strongly advised to verify the information and check for any updates or corrections by referring to the official government notification or website. The author and publisher of this post do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any loss or damage caused directly or indirectly by the use of such information. The reader is solely responsible for any decisions or actions taken based on the information provided in this post.
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Categories: Personal Finance
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