Parents are especially concerned about daughters all over the country because their wedding expenses are a huge burden to the parents after their education. Best Discount Brokers in India: Top List 2020, Post Office Monthly Income Scheme (POMIS), new interest rates on Post Office Schemes in India, Best Long Term Investment Options in India, Best YouTube Channels for Indian Stock Market: Investing in India, Important Financial Ratios: You Must Know for Stock Investing, Different Types of Stocks Every Investor Should Know: Classification, Reliance vs. Amazon: Clash of the E-commerce Giants, Top 10 FMCG Companies in India: Leading & Best Companies List, High Return Investments in India: 6 Best Investment Options 2021, CFA Level 1 Pass rate: Latest Passing Rates & Statistics, Top 10 Best Instant Personal Loan Apps in India, Green Banking in India: A Research Study on Strategies. Save my name, email, and website in this browser for the next time I comment. The post office offers specific girl child saving scheme offered named Sukanya Samriddhi Yojana. Along with the invested amount, any interest earned on the investment (except for the interest earned in last year) can also be claimed as a. Through this scheme, savings account is opened in the post office of daughters under Beti Bachao Beti Padhao scheme across the country. Your email address will not be published. The name of this scheme launched for daughters is Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana). In case an individual is interested to open SSY account, one must submit the requisite documents in the post office. TDS Rate Chart for Financial Year 2016-17, Reliance vs. Amazon: Clash of the E-commerce Giants, Top 10 FMCG Companies in India: Leading & Best Companies List, High Return Investments in India: 6 Best Investment Options 2021, CFA Level 1 Pass rate: Latest Passing Rates & Statistics, Top 10 Best Instant Personal Loan Apps in India, Green Banking in India: A Research Study on Strategies. The investor (depositor) needs to provide transfer application at either the old or new post office requesting for the transfer. An amount equal to 50% of the total accumulated deposit amount can only be partially withdrawn. On general basis the rate of interest is provided each year by 1st April. Best Trading Platform in India: Online Portals by Stock Brokers, Identity Proof of depositor (i.e. The main reason for launching this project under government scheme was to encourage families to save for their girl child and provide child with financial security and financial independence. 7th Pay Commission Salary : According to 7th Pay Commission, government employees will get these positions, PM Garib Kalyaan Scheme : Only 6 days remain to take advantage of this scheme of Modi government for free, know everything, Sukanya Samriddhi Yojana All Details : Know when and how much money you can withdraw, LPG Cylinder Insurance Cover : Insurance cover is given to customers on LPG gas cylinders, you know? Do let us know in the comments. Can you please guide me? So, kindly confirm the same from respective Post office before investing. During Budget of 2015, government has announced the initiation of SSY scheme which has proved to be a massive step towards safeguarding girl child and supporting “Beti Bachao Beti Padhao” programme. For information, tell us that the daughters are under 10 years of age, the account is opened under Sukanya Samriddhi Yojana. Otherwise know. A lot of fruitful schemes have been launched to benefit both female and male children in India. Monthly Rs.1000/- or 1500/- plan. ‌ Even if the child dies. Public Provident Fund (PPF) Scheme was first launched in 1968. We discuss about Post office Sukanya Samriddhi Yojana Scheme Details, how to open an account and tax benefits in this blog. Which investment plan is best? I need a monthly plan for boy child wherein the minimum amount must be Rs.500 only. The SSY scheme provides not only provides a good opportunity for the girl child to be financial independent when she reaches majority (i.e. This scheme encourages parents to open an account in the name of their male children. I have one baby and was looking for a good investment plan to save money for him. Kisan Vikas Patra (KVP) for a very long time has been a very popular investment scheme amongst lower and middle-income earners. The interest rate for July to Sep is 7.6% p.a. Any amount over and above Rs.1.5 lakh is not eligible for any tax benefit. I want to open Ponmagan Podhuvaippu Nidhi for my son 7 years old. We discuss about Post office Sukanya Samriddhi Yojana Scheme Details, how to open an account and tax benefits in this blog. You will be allowed to withdraw only as much money as is required. India Post, Ministry of Communication & Technology Sukanya Samriddhi Account JavaScript is a standard programming language that is included to provide interactive features, Kindly enable Javascript in … Gender discrimination is one of the grave problems we all face in India. You can have a quick look at the new interest rates on Post Office Schemes in India. Updated On: Apr 2, 2020 | Investment | 10. Then the post office under which he or she has first opened the account can allow the inter location post office transfer of the SSY account. After many appeals from masses, Tamil Nadu post offices have released male child saving scheme called as “Ponmagan Podhuvaippu Nidhi”. How Loan Moratorium Might Impact the Economy? It is important for every parent to secure the future of their children. Required fields are marked *. For information, let us know that this scheme is providing an annual interest rate of 7.6%. The KVP scheme was first introduced in 1988 but was discontinued in 2011. It is targeted to empower and secure future expenses like education and marriage. POMIS can also be opened by a minor (individuals who have crossed 10 years of age but have not exceeded 18 years), with a condition that the minor opens a joint MIS account clubbing with a major guardian (individual whose age is more than 18 years). The post office has been the oldest organization which has helped the Indian citizen to cultivate and nurture the saving and investment habits. Meaning, Types & How it Works? Under this scheme, we are providing you complete information (Sukanya Samriddhi Yojana). In this blog post, we look specifically at the popular post office schemes for a boy child. Indian Post Office also offers their customers with an option to open a 5-year Post Office recurring deposit (RD) account. As an account holder, you can add your savings on monthly basis and earn fixed interest on it. Then you can also close this account under special circumstances. Save my name, email, and website in this browser for the next time I comment. Note: Only one account can be opened in the name of one girl child (One girl child = One SSY account), You may also like: Post Office Saving Schemes for Boy Child. In this scheme, when the daughter attains the age of 18 years. The initial deposit amount required to be made to open a SSY account is Rs.1000. This site uses Akismet to reduce spam. Sukanya Samriddhi Account Yojana in Post Office (SSA or SSY) Sukanya Samriddhi Account Yojana has brought in a lot of relief to the Indian parents and guardians as it promises a viably secure future for the girl child at the time of her higher education and marriage and she would no more considered a financial burden on the family. Thanks! In India where education of male child is given priority and where wedding expense of girls is seen as a great obligation. The post office offers specific girl child saving scheme offered named Sukanya Samriddhi Yojana. Post Office Sukanya Samriddhi Yojana (SSY) is a Govt. The parent or legal guardian can open KVP account on behalf of their minor male child. Thus, above are a few mentioned child saving plans offered and managed by Post Offices. Get FREE Share ​​​​Investment Account, Zero Brokerage on Equity Delivery/Long Term Stock Investment, *Powered by Zerodha: The No.1 Discount Broker in India*, A Quick Link to Open Free Equity Investment Account with Zerodha. Post Offices have helped many citizens develop investment habits. Indian Post offices have existed for a very long period.