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Planning to invest safely for your daughter?

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????A minimum of Rs. 250 and maximum investment of Rs. 1,50,000 can be made in one financial year.

????Deposits need to be made yearly in an SSY account continuously for 14 years, from the date of opening of the account.

????The SSY account matures after 21 years from the date of opening. In case the account holder gets married (after attaining the legal age), premature closure is permitted.

????Partial withdrawal (up to 50% of the accumulated amount) is permitted after the child turns 18 to meet requirements including higher education/marriage.

????Please note, that it is important to make at least one contribution a year to keep the scheme active till 14 years are completed. One can choose to not make a contribution in the SSY account after year 14 till year 21 if they so wish.

????The rate of interest announced for the 2nd quarter of FY 2021-2022 i.e. 1 July 2021 to 30 September 2021 is 7.6% p.a.

????Investments made in the SSY scheme are eligible for deductions under Section 80C, subject to a maximum cap of Rs 1.5 lakh.

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