Sukanya Samriddhi Yojana Account

A premier saving scheme offering from the Indian Ministry of Finance, the Sukanya Samriddhi Yojana (SSY) Accounts are aimed at ensuring a bright future for the girl children in India. This ambitious and resourceful scheme was launched by the honourable Prime Minister of India, Mr. Narendra Modi, and has quickly emerged as a popular savings scheme that aims to provide financial backing for a girl child's varied, lifelong aspirations. The thoughtful features of this scheme are as follows-

1. Attractive interest rate at 9.2% p.a. This is infact one of the highest rates of interest in its class.
2. Account can be opened at any departmental post office or authorized banks in India.
3. The opening amount for the SSY account is Rs.1000. Thereafter, deposits can be made in multiples of Rs.100. The minimum deposit into the account must amount to Rs.1000, the maximum limit is Rs.1,50,000 per year.
4. The SSY account attains maturity in 21 years from the date of issue. However, the account holder is expected to pay into the account for a total duration of 14 years.
5. A SSY account can be transferred from one post office/bank to another, anywhere in India.