Investing for your daughter in Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana (SSY) is a tax-free small savings scheme for the girl child. It was launched on January 22, 2015. The parents or legal guardians of a girl aged upto ten years can open a Sukanya Samriddhi Yojana account in the name of the girl child in designated branches of public-sector banks or in a post office, with a minimum amount of Rs 250. It is a special initiative for the girl child and aims to encourage saving for her welfare. The depositor can open only one account in the name of one girl child and a maximum of two accounts in the name of two different children. However, the guardian can open the third account in the case of the birth of twin girls in the second birth, or girl triplets in the first birth. Features at a glance Eligibility: You need to be a resident Indian and parent/legal guardian of the girl child. Entry age: Parents or legal guardian of a girl child who is ten years or less can open a Sukanya Samriddhi Yojana accou

This article was originally published on September 28, 2021.