Sukanya Samriddhi and Women’s Honor Savings Scheme … Strong interest in both

Many schemes for women are run by the government, which gives financial freedom to women. Some of these schemes are operated on behalf of the post office, including Sukanya Samriddhi Yojana (SSY) and Mahila Samman Saving Certificate. Under these schemes, the government gives strong interest to eligible applicants. If you are also thinking about investing in one of these schemes, then let us know which of this schemes can be the best for you?

Sukanya Samriddhi Yojana was implemented in January 2015 and it continues. At the same time, the Women’s Honor Savings Certificate was started in April 2023 for 2 years. This scheme is valid only till 31 March, 2025. Information has not been revealed by the government to pursue this.

Sukanya Samriddhi Yojana
In Sukanya Samriddhi Yojana (SSY), parents can open an account in the name of a child up to 10 years of age. This account can be opened for two girls in a family and a child can have a single account open. In the case of twin girls, these three accounts can be opened.

I get this much interest
You can open SSY account with an investment of Rs 250. It has been fixed at Rs 250 and maximum Rs 1.5 lakh in a financial year. Currently, the interest rate in this scheme is 8.2% annually. If the account is needed, one can be transferred from one bank branch to another, one bank to another, from one post office to another, bank to post office and post office to bank.

Do not feel tax
Maxim can be invested for 15 years under this scheme. The account can be closed only after the girl turns 21 years old. However, some money can be withdrawn when the child is 18 years old. Partly, up to 50 percent amount can be extracted through this account. A tax deduction of up to Rs 1.5 lakh can be claimed under Section 80C of the Income Tax Act on the amount deposited in SSY.

Women’s honor saving certificate

This scheme is also available in all 1.59 lakh post offices in the country. Under this scheme, 7.5 percent of the interest rate can be invested. The scheme is currently with a 2 -year maturity period. A woman can invest under the scheme. Parents can invest in the name of a minor girl.

In this scheme, you can invest minimum Rs 1 thousand and maximum Rs 2 lakh. If there is more than one account in the name of a woman, then all will be invested with Rs 2 lakh. There should be a 3 -month gap between the second account being opened. There is a chance of partial withdrawal in it. After one year from the date of opening the account, 40 percent of the balance can be removed. After 6 months, you can close this account, but for this, 2 percent interest will be deducted.