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Sukanya Samriddhi Yojana (SSY):
Account matures 21 years from the date of opening, or upon the girl's marriage after age 18 Partial withdrawal of up to 50% of the balance is permitted after the girl turns 18, to meet higher education expenses
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Did You Know?
Sukanya Samridhi Yojana (SSY): If you have been blessed with a girl, you can open an SSY account . It is one of the child investment plans to empower girls and also comes with a higher rate of interest and sovereign guarantee, while also allowing you to save tax. A family can open a maximum of two SSY accounts , one for each girl who should not be above 10 years of age at the time of account opening. A minimum annual contribution of ₹250 to a maximum of ₹1.5 lakh is allowed, which is eligible for deduction as per Section 80C. Once the girl is 18, you can make a withdrawal of upto 50% of the account balance in the last year for her higher education. SSY has a 21-year lock-in period from the date when the account is opened, and deposits need to be made for the first 15 years.