The Central and State Governments are formulating various schemes for the upliftment of women and children. ‘Sukanya Samridhi Yojana’ is a scheme under the Central Government which can be used for the educational needs of girls as well as for marriage expenses. This scheme, which can definitely be availed by every parent with a daughter, will get a good amount for their further education and wedding expenses. But many in our place still do not know much about such a project. Let’s see what is Sukanya Samridhi Yojana and who will benefit from this scheme.
Sukanya Samridhi Yojana is a central government scheme that parents of girls can definitely start. This will benefit two girls in a household. The girl’s parent or guardian be a member of the plan. A girl can join the scheme before she is 10 years old. Age is determined by the birth certificate. The account is started by the parents but later comes in the name of the child. Therefore, parents can have full control over it until the age of 10.The duration of the project is 21 years. The investment is for 15 years. A minimum deposit of at least Rs. 250 should be made into the account every year. After investing for 15 years, the compound will start as a Interest Add on the amount from the following year. It is possible to invest up to a maximum of Rs 1.5 lakh in a year. This amount can be invested more than once in a single installment.
All you have to do is pay the convenience amount every year according to your convenience. But the minimum amount must be paid. Only one account can be opened in a child’s name. After the age of 18, the girl can withdraw up to 50 per cent of the amount paid for higher education. Withdrawals are limited to 50% of the amount you paid by March 31 of the year in which you intend to withdraw. The same amount can be withdrawn for the girl’s wedding needs and in the same way.
You can see the fluctuations in interest rates on the amount you pay each year. Interest is determined in the form of compound interest. Therefore, it is not possible to say exactly how much will be received. But it is estimated that if a person pays Rs.1000 a year, will invest Rs.15,000 in 15 years. When the amount is withdrawn after 21 years, the approximate amount will be between Rs. 49,500 and Rs. 50,000.
You can join this scheme through post office or banks. It can also be transferred from one post office to another. The girl’s birth certificate and ID proof required to prove that she is a parent or guardian will have to be submitted as document. If you are a part of the project as soon as the girl is born, you will definitely get a very good amount for subsequent needs.