Sukanya Samriddhi Yojana is essentially an initiative of the Indian Government wherein parents can secure their girl child's future by investing a small amount of money into the scheme. Bank of Baroda offers simple steps to open an account!
According to the directive from the government of India, Bank of Baroda is offering the Sukanya Samriddhi Yojana to its customers as a possible investment.
This scheme aims are helping parents invest money in an account where they get a good rate of interest and build a sizable amount of savings that can then be used to fund the needs of their daughters.
The tenure of this deposit is linked to the child’s age and requires investments to be made only for the first 14 years. It also provides facilities for partial withdrawals at specific times in the life of the child and can also be opened if the parents are blessed with twins.
The process of opening the account is also very simple and the returns, attractive since the maturity benefits can be a sizable amount. It is also a great way for parents to be assured that they will be able for fund their daughters when they most need it.
Current Interest Rate | 8.2 % Per Annum |
Minimum Deposit | INR 250 Per Annum |
Maximum Deposit Amount | INR 1,50,000 Per Annum |
Max Eligibility Age | 10 Years |
Maturity | After the age of 18 |
The tax benefits provided by this scheme are done so under section 80C of the Income Tax Act. Since this is an investment offered under 80C, the maximum benefit that can be claimed is Rs. 1.5 lakhs every year.
The Sukanya Samriddhi Scheme is a good investments to make since it will help parents put aside finances that would be essential for the family when their daughter grows up and is ready to go ahead with higher education or even get married.
Yes, you must visit a Bank of Baroda branch to open a Sukanya Samriddi Account.
Proof of identity of the parents or guardian and the girl’s birth certificate must be submitted to open a Sukanya Samriddi Account at Bank of Baroda.
The minimum deposit that must be made for the Bank of Baroda Sukanya Samriddi Account is Rs.250.
The maximum deposit that can be made for the Bank of Baroda Sukanya Samriddi Account is Rs.1.5 lakh.
The interest rates of the Sukanya Samriddi Account are changed every quarter?
The government changes the interest rates of the Sukanya Samriddi Account.
Yes, you can avail tax benefits under Section 80C for any deposits made under the Sukanya Samriddhi Account offered by Bank of Baroda.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.