In this video, we discuss important features of important tax saving investment, Sukanya Samriddhi Yojana
Edited highlights
0:13 As part of our tax saving investments series, we will discuss in this video important features of Sukanya Samriddhi Yojana
0:44 Sukanya Samriddhi Yojana is an important tax saving scheme and investment for the girl child
1:13 Sukanya Samriddhi Yojana is available with all leading post office and major banks. You can even manage it online
1:47 The account remains in operation for 21 years. The investment period is only 14 years
2:02 It provides Section 80C benefits of upto Rs 1.5 lakh annually much like PPF
2:18 To invest in the scheme, the girl child should be 10 years or less
2:48 Like PPF, Sukanya Samriddhi Yojana has tax deduction for contribution and tax-free interest and maturity amounts
3:01 This makes the effective interest rate higher
3:07 Sukanya Samriddhi Yojana (SSY) has always had one of the highest interest rates, even higher than PPF
3:27 We strongly recommend Sukanya Samriddhi Yojana . You can combine it with other investments like equity funds for the future of the girl child for purposes like the child’s higher education
3:50 You can make partial withdrawals at the age of 18 of the girl child and withdraw 50% of the savings for child’s higher education and marriage
