Open this account for daughter for only 250 rupees in Sukanya Samrudhi Yojana
Sukanya Samrudhi Yojana, The scheme is to secure the future of the daughters at an interest rate of 8.5 to 9 per cent.
This is a long term savings plan like PPF account in which savings can be deposited for 15 years.
It can only be opened for 10 year old girls and it can be run for 21 years or until the girl gets married
The plan has a lock-in period of at least 8 years and 50% of the amount can be recovered when the bride turns 18 years old.
In this scheme a minimum of Rs.1000 and a maximum of Rs. 1,50,000 can be deposited.
ર The amount deposited in Sukanya Samrudhi Yojana is exempted under Section 80C of the Income Tax Act and there is no tax on interest or maturity amount.