An Investment can make you millionaire but it should start from your daughter name. Yes exactly right..!! The government gives this opportunity to you. Government’s new scheme is out that is Sukanya Samriddhi Yojana. You can open account under this scheme until 10 years of age of daughter.
By this bank account you can invest and you can get benefit in Tax also. The account will mature when your daughter becomes 21 year old. If you are investing Rs 1.5 lakh at every year then you can get more than Rs 80 lakh at maturity time.
You can get more than Rs 1.5 crore through account which has been opened by name of two daughters. Sukanya Samriddhi Yojana is more beneficial from PPF. Sukanya Samriddhi Yojana offers more interest than PPF. The interest rates have been changed of financial year 2016-2017.
According to it, there annual interest on PPF that is 8.1% while in Sukanya Samriddhi Yojana there is 8.6% interest from March 2016. In the Sukanya Samriddhi Yojana you can get more 0.5% interest than PPF. You can open only one account of one daughter’s name. But you have to invest Rs 1000 at the time of open account.
The person should have to invest up to 14 years under Sukanya Samriddhi Yojana. Currently there is 9.2% interest under the Sukanya Samriddhi Yojana. If you are not deposit money in any one year then you have to give penalty. If you want to open account under the Sukanya Samriddhi Yojana then you have to submit these documents.
Born Certificate of Daughter
Residential Proof of Parents
Identity Proof of Parents
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