Families with a girl child under the age of 10 are increasingly opting for SSY accounts. SSY enjoys a relatively higher interest rate and sets aside a corpus that can be used for the daughter’s education or marriage. The account also enjoys tax-free maturity and deduction under Section 80C of the Income-tax Act, 1961. It can be opened at any authorised bank or post office branch.
Sukanya Samriddhi Yojana offers 8.2% interest rate for the July-September quarter of 2024.
Text: Centre for Investment Education and Learning (CIEL)
