The correct answer is (a) Rs. 500=00.
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child. It was launched in January 2015 with the aim of promoting the girl child and ensuring her financial security.
The minimum deposit amount under the SSY is Rs. 250 per month or Rs. 3000 per year. However, there is no maximum limit on the deposit amount. The interest rate on the SSY is 8.5% per annum, compounded annually.
The SSY account can be opened by the girl’s parents or guardian in any post office or designated bank branch. The account can be opened in the name of the girl child from the date of her birth till she attains the age of 10 years.
The SSY account can be closed after the girl child attains the age of 21 years. However, if the girl child dies before the age of 21 years, the account can be closed after her death and the maturity amount will be paid to her parents or guardian.
The SSY is a tax-saving scheme. The interest earned on the SSY account is exempt from income tax under Section 80C of the Income Tax Act, 1961.
The SSY is a safe and secure investment option. The government guarantees the principal amount and the interest earned on the SSY account.
The SSY is a good option for parents who want to save for their daughter’s future. The SSY offers a good interest rate, tax benefits, and government guarantee.