Sukanya Samriddhi Yojana is a government-backed savings scheme developed for girl children in India. This scheme was launched in January 2015 as a part of the government’s ‘Beti Bachao - Beti Padhao’ initiative. This scheme is intended to provide financial security for girl children belonging to underprivileged families in the country. One of the highlights of this scheme is that it comes with a specific lock-in period to ensure that the accrued money benefits the girl child during the time of marriage or higher education.
The eligibility criteria outlined by the government for enrolling in this scheme are given as follows:
This savings scheme comes with a range of benefits specifically aimed at supporting the future needs of girl children in our country. Some of the top benefits of this scheme can be listed as follows:
The benefits listed here make this scheme one of the best investment tools available in the market when you have to provide for a girl child in your family. However, there are certain things to be considered before you think about investing in this scheme. It is worth investing in this scheme if the following factors are considered:
The Sukanya Samriddhi Yojana is a unique scheme that offers great benefits for account holders. Though the lock-in period of this scheme is quite high, the flexible benefits offered by the scheme make it a great initiative for girl children in the country. The purpose of this account is to provide for girl children during their time of marriage or higher education. With careful planning, parents can build a decent corpus for the future financial requirements of their children.
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