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There's no need to worry about your daughter's education and marriage anymore. You too can take advantage of the Government of India's Sukanya Samriddhi Yojana to secure her future. Let's learn more about it.

Managing family expenses has become increasingly difficult in today's rapidly rising inflation. Meanwhile, parents are also worried about their children's education and marriage. This worry is especially heightened when it comes to daughters. But now, parents needn't worry about this, as the Government of India will make arrangements for their daughters' education and marriage.

Indeed, under the Government of India's Sukanya Samriddhi Yojana, daughters have a secure future. Deposits earn an interest rate of 8.2%. Let's learn how to apply for this scheme and how to benefit from it.

What is the Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana (SSY) is a scheme launched by the Indian government specifically for daughters. Under this scheme, people can open an account for their daughters at the age of 10 and start saving for them. The unique feature of this scheme is that annual deposits can range from ₹250 to ₹1.5 lakh. The interest rate is also quite high, allowing parents to accumulate a substantial amount for both their daughter's education and marriage as she grows up.

How much interest is earned?

Deposits under this scheme earn an interest rate of 8.2%, which is credited to the girl's bank account until she turns 21. After that, the money can be easily withdrawn once she turns 21. Based on the interest earned under this scheme, a total deposit of ₹1.5 lakh annually for a daughter for 15 years would amount to ₹2,250,000. At the same time, according to the interest charged on this, the total interest will be ₹46,77,578. This means that by the time your daughter turns 21, she will receive approximately ₹70 lakh, making her a millionaire.

What are the required documents?

It's also important to know the required documents. To apply, you need to provide the girl's birth certificate, her parents' identity card and passport-sized photograph, a bank passbook or post office passbook, and contact details.

How to apply?

Applying for this scheme is very easy. Accounts can only be opened for two daughters in a family. To do this, you need to go to your nearest post office and open an account.

1. First, go to the nearest post office or bank branch.

2. Obtain the Sukanya Samriddhi Yojana form from there.

3. Then, fill in all the required information correctly.

4. Then, attach the required documents to the form.

5. Submit the form and the initial payment to the bank or post office.

6. Remember to get a receipt afterward.