UP has 4.5 million accounts under the scheme with an 11 percent share, compared with 1.6 million by March 2019 and 25,766 in 2015
Celebrating 10 years of Sukanya Samriddhi Account! With 8.2% interest and tax benefits, this scheme secures your daughter's education and marriage funds. Payal Tiwari Sharma tells all about its features, benefits, and expert insights in this detailed explainer. Watch now!
SSY has the EEE tax benefit available to PPF, which provides attractive post-tax returns in the backdrop of negligible risk. It offers parents a good option to provide a solid investment for their daughter. In its category, SSY is a highly attractive investment product.
On September 18, Finance Minister Nirmala Sitharaman rolled out the National Pension System (NPS) - Vatsalya, a scheme meant for parents who wish to create a long-term corpus for their children. But the question here is that whether NPS Vatsalya is better than PPF or Sukanya Samriddhi Yojana, and is it ideal to fund for children's higher education
FM announced a new one-time small savings scheme for women in the Union Budget.
The government is likely to rely on small savings schemes in Budget 2023 to finance is fiscal deficit and could raise around Rs 5 lakh crore from them.
You can only make deposits in Sukanya Samriddhi Yojana till your 15th year. Although returns are higher, try topping up your girl child's savings with other options that offer greater flexibility.
"In the near future, payments under MGNREGA and Sukanya Samruddha Yojana will be made through post offices," Venkaiah Naidu said, adding the Centre's objective is to ensure welfare funds reach the beneficiaries directly without any pilferage.
Under the revised scheme, interest rates may be revised every quarter. Savings schemes such as PPF, NSC may see a marginal dip. Sources also add that the maximum impact is likely to be on schemes of up to five years
SSY offers to build corpus for a girl child that should come handy to meet her life goals such as funding education and marriage. The scheme offers tax benefits at the investment stage and proceeds are tax free.