Do you invest in Sukanya Samriddhi Yojana or want to open an account in this scheme? There is big news for you. The government has increased the interest rate for this scheme. The government announces interest rates on Small Savings Schemes for every quarter.
On Friday, the government has announced the interest rates for the quarter from April to June 2023. The government has increased the rates of Sukanya Samriddhi Yojana (SSY Interest Rate) for the first quarter of the financial year 2023-24. In this scheme, the interest rate has been increased by 0.40 percent. At this time, 7.6 percent interest rate was available in this scheme. Now it has been increased to 8 percent.
Most popular scheme for daughters
The central government started the Sukanya Samriddhi Yojana under the Beti Padhao, Beti Bachao Yojana. This scheme was launched to improve the future of girl children born in economically weak families. This is a long term savings scheme. In this scheme parents invest in the name of their daughters. This is a government scheme, so there is no risk in it. Guaranteed returns are available in this scheme.
Get exemption in income tax
Income tax exemption is also available for investing in Sukanya Samriddhi Yojana. Under Section 80C of the Income Tax Act, a tax rebate of Rs 1.50 lakh is available on investment in this scheme. This scheme comes with EEE status. That is, in this scheme investment, interest income and maturity amount all three are tax free.
Open an account before the age of 10 years
In Sukanya Samriddhi Yojana, the account is opened before the daughters complete 10 years of age. The account of maximum two daughters of the family can be opened in this scheme. By investing in this scheme, you can create a good fund for the marriage and higher education of the girl child.
