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The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme aimed at securing the future of a girl child in India. It offers a high interest rate and tax benefits, making it one of the most attractive savings plans.
SSY offers a guaranteed return, tax-free interest, and flexibility in investment. Parents or guardians can deposit between ₹250 and ₹1.5 lakh annually.
Yes, investments in SSY qualify for tax benefits under Section 80C, and the interest earned is also tax-free.
Interest on SSY is compounded annually and calculated as per government-declared rates. Use ZapItFinance SSY Calculator for accurate calculations.
You can check your SSY balance through your bank or post office where the account was opened.
If the guardian passes away, the account continues with the legal heir, or the amount can be withdrawn prematurely.
Yes, parents can open up to two accounts for two different daughters.
You need the girl's birth certificate, parent's ID proof, and address proof.
If no deposit is made, the account is deactivated but can be revived by paying the minimum deposit plus penalty.
Both are tax-free, but SSY offers better returns and is exclusive to girl children.
SIP is a market-linked investment with risk, while SSY is a secure, government-backed plan.