look news india
SSY: New rules have come into effect from the beginning of October. According to the new rule, Sukanya Samriddhi Yojana (SSY) account can be managed only by the legal guardian of the daughter or her parents. Sukanya Samriddhi Yojana was started by PM Modi in the year 2015. Keeping in mind the future of daughters, PM Modi decided to launch this scheme to encourage parents to start saving for their daughters from an early age.
Only one Sukanya Samriddhi account can be opened in the name of the daughter. Under this scheme, an account can be opened for just Rs 250. In this scheme, more than eight percent interest is provided by the government. This account can be opened only at the time of the birth of the daughter or till she turns 10 years old.
If you want to open an account under Sukanya Samriddhi Yojana, you can go to the post office located near your home or the office of the bank registered under this scheme. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited in this account in a financial year. Only the guardian can manage the account until the daughter attains majority.
Under the new rule, if the account in Sukanya Samriddhi Yojana is not operated by the legal guardian of the daughters, the account can be closed. Under this, this change has also been made, earlier this account could be closed on the death of the daughter or change in the residential address of the daughter. But now the fatal illness of the account holder has also been included in it.
Sukanya Samriddhi Yojana (SSY) account can also be opened on the birth of a third daughter. Under this rule, there is a provision to open an account for twin daughters born after the first daughter. In this way a person can open an account for his three daughters.
Under earlier rules, a daughter could operate an account at the age of 10 years. But this has been changed under the new rules. Under the new rules, daughters are not allowed to operate Sukanya Samriddhi account before the age of 18 years. Till the age of 18 years the account will be managed only by the legal guardian.
The amount of interest earned on investments made under Sukanya Samriddhi Yojana (SSY) is reviewed every quarter by the Finance Ministry. The interest rate has been retained at 8.2% per annum for the quarter ending September 30. Sukanya Samriddhi Account gives money with compound interest on maturity.