Sukanya Samriddhi Yojana
PPF, NSC, other post office schemes interest rates remain unchanged for June 30, 2022 quarter
Here is a look at the interest rates on small savings schemes for the first quarter of FY2022-23.
Latest Sukanya Samriddhi Yojana interest rate for quarter ending June 30, 2022
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for girls. At present, SSY offers the highest tax-free return with sovereign guarantee and comes with an EEE status.
EPFO interest rate better than other schemes, reflects today's realities: Nirmala Sitharaman in Rajya Sabha
Replying to a debate in the Rajya Sabha on the supplementary spending for the current fiscal, she said the decision to lower interest rate was taken by the central board of the provident fund managing body, EPFO, which has representatives of all stakeholders including employees' unions.
SSY account transfer: How to transfer Sukanya Samriddhi account from one bank to another
Account holders must visit the post office or bank where their primary account is held to transfer Sukanya Samriddhi Yojana (SSY) account from one another bank. Unless she is managing the accounts herself, the girl child does not need to be present at the branch.
PPF, NPS, SSY: Here's why you should make minimum deposit in these tax savers before March 31
Here is a look at the minimum amount you need to invest in tax-saving schemes to keep them active and what happens if you do not make the minimum contribution.
How to open Sukanya Samriddhi Yojana account with the Post Office
Sukanya Samriddhi Yojana investments are eligible for deductions under Section 80C of the Income Tax Act, 1961, up to a maximum of Rs 1,50,000. In addition, the interest earned, and the amount received at maturity of this scheme are tax-free.
Sukanya Samriddhi Yojana (SSY): Tax benefits, Interest rate, Eligibility & Benefits
A Sukanya Samriddhi Account can be opened any time after the birth of a girl till she turns 10 by the guardian. The account can be opened in any post office or authorised branches of commercial banks.
How to open Sukanya Samriddhi Yojana Account with SBI
Parents or guardians can open a Sukanya Samriddhi Yojana account with SBI by filling out the SSY account opening form along with address and ID proof of parents or guardians with the initial amount and submit it at the nearest SBI branch.
Investing in Sukanya Samriddhi Yojana to save tax? Here's all you need to know
A girl child can have only 1 SSY account in her name. A parent or guardian can open only 2 accounts except in case of twins/triplets during second birth.
How to open Sukanya Samriddhi Yojana account with HDFC Bank
A Sukanya Samriddhi Account can be opened any time after the birth of a girl till she turns 10, with a minimum deposit of Rs 250.
How to open post office small saving scheme account
An account opening form available at the post office must be filled by the customer along with the KYC form. The customer also needs to indicate the preferred scheme. Nomination is mandatory to register a nomination at the time of opening the account. Customers can make a nomination for up to four individuals.
What is Sukanya Samriddhi Yojana
A parent or guardian is allowed to open only two SSY accounts except in the case of twins at the time of second birth or in case of triplets.
Interest rates of PPF, Sukanya Samriddhi Yojana, other post office schemes kept unchanged by govt
As per the ministry circular, for the Oct-Dec quarter, PPF will continue to earn 7.10%, the NSC will fetch 6.8%, and Post Office Monthly Income Scheme Account will earn 6.6%.
How parents can teach children about money, investing and power of compounding
There are many tools for teaching concepts about money, investing, and the power of compounding and some of the ways of going about it are discussed below.
Investing for daughter: Should you opt for Sukanya Samriddhi Yojana or PPF?
The interest rate offered is usually higher in case of SSY. On the other hand, PPF allows one to earn tax-free interest without any constraints in terms of investments, has a shorter lock-in and allows a longer investment horizon.
How to apply for Sukanya Samriddhi Yojana? All you need to know about eligibility, Interest rate and tax benefits
Below we answer questions related to who can invest in the scheme, how to open an account in the scheme, how much can be invested etc.
The best investments for daughter's education and marriage
Education and marriage of their daughters are key financial goals for most Indian parents. Find out the best instruments that can help you reach them.
How to open a Sukanya Samriddhi Yojana account
To keep the account active, a minimum contribution of Rs 250 is mandatory in each financial year. Maximum investment allowed per annum under the Sukanya Samriddhi Yojana is Rs 1.5 lakh up to the end of 15th year from the opening of the account.
5 changes in Sukanya Samriddhi Scheme, 2019 that you need to know
Though there are no major changes in the new Sukanya Samriddhi Yojana scheme rules 2019, however, you should know about the small modifications that have been made. Here are five changes that have been made to the Sukanya Samriddhi Yojana Scheme.
All you need to know about Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana (SSY) is a government-backed small deposit scheme for a girl child and her financial needs. It was launched as part of the 'Beti Bachao Beti Padhao' campaign. The scheme comes with income-tax benefit under section 80C. The returns are tax-free as well. Also read: How to apply for Sukanya Samriddhi Yojana
Small savings schemes' interest rates slashed. Should you continue with your investments?
Investors in PPF and Sukanya Samriddhi Yojana will see the impact immediately as lower rates will be applicable on accumulated balance. However, investments made in NSC, SCSS and others prior to the announcement would be shielded from the cut.
How to get a double benefit on your tax saving
While choosing the right tax saving option, besides factors such as safety, liquidity and returns, make sure you understand how the returns would be taxed. If the income earned is taxable, the scope to make money over the long run gets constrained. These 5 tax savers that not only help you save tax but also help you earn tax-free income.How to get a double benefit on your tax saving
Opting for new income tax regime? Don't stop investing in these financial products
Keep in mind that foregoing the deductions under Section 80 must not make you abandon certain instruments.
Can you open both Sukanya Samriddhi Account and PPF account for your minor child?
Your PF, existing mutual funds, fixed return schemes and stocks will help you increase your overall capital over time. Increased capital can also be utilised to raise monthly cash inflow.
Minimum investment limits lowered in Sukanya Samriddhi Yojana
A depositor can open and operate only one account in the name of the girl child under the Sukanya Samriddhi Account Rules, 2016
Here's what will happen if you don't finish these 9 tax tasks by March 31
Here are 9 tax-related tasks you should complete before the March 31 deadline to avoid financial hardships.
How to transfer Sukanya Samriddhi Yojana Account
The account can be opened when the girl child is below 10 and matures when she is 21. One can transfer the account opened in a post office to a bank and vice versa.
Tax saving checklist: 5 facts you need to remember
January to March is the time when we finish our tax saving exercise. Have you calculated your tax liability correctly? Have you used the tax breaks offered under Section 80C? These are some critical questions you need to ask yourself while working out your tax saving strategy. Use this video as a checklist.Tax saving checklist: 5 facts you need to remember
How to build a Rs 50 lakh corpus for your child's education
Your child's education corpus depends on various investment factors. ET Wealth calculated the monthly investment needed if you want a corpus of Rs 50 lakh for this goal.
Children's Day: 3 investment options for your kid's long-term needs
If you are in a spot as to where you should invest, read on to find about the three financial products you can consider for your child's long-term needs.
Are you investing correctly for your child's goals? Answers to these 6 questions can help you
Find out how to secure your children’s future by taking the right money decisions and opting for appropriate investing avenues.
5 popular small savings schemes to choose from
Every time markets fall, investors flock to fixed income options. Though small savings rates have been hiked, don’t go overboard investing in them.
Small savings rates hiked: PPF and NSC to give 8%, senior citizens to get 8.7%
This is a welcome relief for fixed income investors as rates have remained unchanged for previous 2 quarters.
Where to invest money? Here are some options
A plethora of investment options in market makes it difficult to choose where to invest. To simplify your decision, here is a list of popular investment options.
How to open Sukanya Samriddhi Account
The Sukanya Samriddhi Yojana account can be opened by the legal or natural guardian in the name of the girl child up to the age of 10 years.
Seven tax-saving investments for the risk averse
Here are seven fixed-income, tax-saving avenues for someone who does not want to take much risk with their investment and want just assured returns. These tax savers can help you save tax if you opt for old tax regime in current FY 2021-22.
Interest rates likely to be hiked for small savings schemes in next quarter
With bond yields rising consistently over past nine months, interest rates for PPF and other schemes may be hiked by 15-20 bps.
ET Wealth ratings: Comparison of 10 tax-saving investments under Section 80C
Comparison of 10 tax-saving instruments on 8 parameters: returns, safety, flexibility, liquidity, costs, transparency, ease of investment and taxability.
5 reasons why ULIPs can help you save for the long term
Income tax can reduce not only the take-home portion of your salary but it can put a dent in the returns from your investments as well. This is why you need to invest in well-thought out investment options that can boost your income and help you achieve your investment goals.
Am I choosing the right mix of funds?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
Where should you invest: PPF, NSC, Sukanya Samriddhi or Senior Citizens' Saving Scheme?
Investors shouldn't blindly invest in small savings schemes. Each instrument has specific features. Here are pros & cons of some of the most popular schemes.
What is Sukanya Samriddhi Yojana? All you need to know
A Sukanya Samriddhi Account can be opened any time after the birth of a girl till she turns 10, with a minimum deposit of Rs 1,000.
Sukanya Samriddhi Yojana: Important watchouts before you invest
The EEE status of the scheme may not be a good enough reason to invest in it. Read on to find out if you should put your money in the scheme or not.
PPF interest rate cut to 7.9% but are other investment options better? Here's a comparison
The interest rates of the PPF and other small savings schemes have been cut. Here is a low-down on the other options before investors.
There is a new India emerging, there must be a new Odisha also: Dharmendra Pradhan
"Traditionally, we have had a good support base in the western part of the state. But in this election, in the coastal belt too, the party has done extremely well."
Bank deposit rates set to fall in new fiscal
Many banks have cut deposit rates within a month into demonetisation and experts believe that they are in for another round of cut in the Q1 of FY18.
Small saving schemes interest rates lowered by 0.1%
A finance ministry notification said investments in the PPF will fetch lower annual rate of 7.9 per cent, the same as 5-year National Savings Certificate.
How to open a Sukanya Samriddhi Account | Step by Step Guide
Generally, all banks that provide the facility to open a Public Provident Fund account offer one for Sukanya Samriddhi Yojana too.
Should you buy Sukanya Samriddhi Yojana?
Wealth planners believe subscribers should go for this product along with equity plans because interest rates could fall in the future.
Investing more in NPS, tax-free reimbursements can help Minocha cut tax outgo
Read on to find out how to restructure one's income, investments and expenses to optimise the tax outgo.
Know the new rules of the Sukanya scheme
There have been some changes in the scheme, but it continues to be among the best debt options.
Budget 2015: Is the Sukanya Samriddhi Yojana better than PPF?
The government-sponsored scheme offers higher interest and tax free income. But it is only for girls below 10 years and the lock-in period is longer.
PPF, NSC rates to be cut; bank FDs may fetch lower interest
The finance ministry is finalizing product-specific rates and sources said the impact would be higher in case of maturity period of less than five years.
Two months on, banks still clueless about Sukanya Samriddhi Yojana
Nearly two months after the Sukanya Samriddhi Yojana was launched, bank branches are still awaiting guidelines on the small savings scheme for girls.
Massive publicity campaign to highlight NDA government's achievements
While the first phase of the endeavour marking the first anniversary of the Narendra Modi-led NDA government started on May 26 and ends on June 2, the second phase starts on June 8 and will continue till the end of the month to cover all the districts in the country.
How to reap big benefits from small saving schemes
The interest rates on small saving schemes are linked to the yield of government bonds and revised every year. Here's how they can work for you.
Punjab National Bank opens 121 ATMs in one day
State-owned Punjab National Bank today opened 121 ATMs across the country to commemorate its 121th foundation day.
EPF Vs PPF Vs Bank FD: Latest interest rates
The Employees' Provident Fund Organisation (EPFO) lowered the interest rate on EPF deposits to 8.1 percent. The interest rate for small savings schemes such as PPF and SCSS Sukanya Samriddhi Yojana will be announced by the government very shortly.
PPF, NSC, other post office schemes interest rates remain unchanged for March 31, 2022 quarter
What this means is that for the quarter ending March 31, 2022, investors in small savings schemes like the Public Provident Fund (PPF) and Sukanya Samriddhi Yojana will continue to earn the same interest rate as they were earning during the quarter ending December 31, 2021.
Was section 80C limit increased in Union Budget 2022?
There has been long-standing demand to hike the deduction limit under section 80C as the limit was last hiked in financial year 2014-15, i.e., seven years ago. The last time section 80C was hiked to Rs 1.5 lakh from Rs 1 lakh - a hike of Rs 50,000.
How to best take advantage of tax saving options under the old tax regime
Tax planning is an integral part of financial planning and this is why you should invest in options that are aligned with your goals and objectives that can save taxes too.
Budget 2022 expectation: Standard deduction hike, income tax relief for saving for kids' education
Much desired by taxpayers from the upcoming Budget 2022, an increase in standard deduction and extra deduction for education expenses would encourage more savings towards a future purpose while incentivising individuals through tax savings.
Jan Dhan 3.0 to focus on digital, doorstep banking
The government wants banks to also find linkages and converge Jan Dhan accounts with schemes such as the Atal Pension Yojana, PM SVANidhi, Stand Up India scheme and the Sukanya Samriddhi Yojana.
Check Budget 2022 date, time here; what individuals can expect from it
The focus of this the Union Budget 2022 is expected to be on speeding up India's recovery from the pandemic shock, as well as strengthening the country's healthcare system to protect against future outbreaks. Keeping the pandemic and the rising inflation in mind, in the Union Budget 2022, the government should increase the section 80C limit to at least Rs 2.5 lakh per annum.
Budget expectations: 6 expectations of individuals from Budget 2022 today
Taxpayers expect that Budget 2022 will include tax rate and surcharge reductions, as well as an increase in the deduction available under section 80C. Here is a list of some of the expectations of the common man from the Union Budget 2022.
Retail Direct bond scheme gets 32,000 registrations in 6 days
While the investment may be safe, portfolio advisors are cautioning that investors should be aware of potential mark-to-market losses because of the interest rate risk in an upward cycle that could begin as early as the first quarter of next year. Bond prices and interest rates move in opposite direction.
RBI wants tax sops for Retail Direct Scheme investments, may approach govt
About 20,314 accounts to own government securities have already been opened till 9 pm on Sunday after Prime Minister Narendra Modi launched the programme Friday.
General Provident Fund interest rate for Oct-Dec 2021 quarter announced
"It is announced for general information that during the year 2021-22, accumulation at the credit of subscribers of General Provident Fund and other similar funds shall carry interest rate of 7.1% (seven point one percent) w.e.f. 1st October 2021."
Centre maps out the way to scale up financial inclusion
In the winter session of parliament, finance minister Nirmala Sitharaman told the Lok Sabha that promotion of digital payment is one of the priorities of the government to facilitate hassle free and seamless banking transactions.
Use these 4 investment products to invest for your children
One can invest in long term equity funds. There are specific plans for children that have a dynamic asset allocation to equity and debt.
These 5 leaks, gaps in your investment portfolio may be hurting your finances. Here's how to fix them
The liquidity profile of your investments may be at odds with your needs. If not addressed in time, these niggles might catch you off-guard. In this week’s cover story we outline five common portfolio leaks and gaps that should not be ignored.
Interest rates of PPF, NSC and other post office schemes kept unchanged by govt
As per the circular, PPF will continue to earn 7.10%, the NSC will fetch 6.8%, and Post Office Monthly Income Scheme Account will earn 6.6% for the quarter ending September 30, 2021.
PPF, NSC and other post office schemes interest rates after govt rolls back sharp cut
"Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn," states FM's the tweet.
5 tax-saving investment avenues under Section 80C
One needs to take into account the amounts already eligible for deduction as above and can only make fresh investments for the balance deduction, if needed.
No cut in PPF, NSC, other post office schemes' interest rates for Q4 of FY 2020-21
This was announced by the finance ministry via a circular dated Dec 30, 2020. As per the circular, PPF will continue to earn 7.10%, the NSC will fetch 6.8%. Here is a look at the interest rates on various small savings schemes for the final quarter of FY 2020-21.
Best tax saving options: Here is a comparison of 10 investment options
Like every year, ET Wealth has assessed 10 tax-saving instruments on 8 key parameters— returns, safety, flexibility, liquidity, costs, transparency, ease of investment and taxability of income. Read on to know which is the best and the worst way to save tax.
How to select the best tax-saving plan
Compare your investment options on the basis of overall returns and their wealth-building potential. For someone investing in ELSS, choosing the growth option over the dividend option will yield better tax-effective returns.
Money & relationships: 5 financial benefits that only a woman gets
Celebrate yourself this Mother’s Day and opt for some of these benefits and government schemes for yourself and your girl child.
5 financial tasks to finish in April
The tax planning season is still far away, so few people have tax savings on their mind right now. But experts say you should start your tax planning from April itself, rather than wait and make hasty decisions in the last few weeks of the financial year.
Govt relaxes norms for PPF, SSY and RD account holders
The relaxations with respect to small savings schemes have been extended to July 31, 2020, due to on-going novel coronavirus pandemic situation in the country.
Need to work together to empower J&K: Ravi Shankar Prasad
Ravi Shankar Prasad said as part of the Department of Post’s policy to encourage the setting up of all-women post offices in the country and in line with Prime Minister Narendra Modi’s announcements of Beti Padhao Beti Bacchao and Sukanya Samriddhi Yojana, the second all-women post office in J&K would be set up in Baramulla district shortly.
Should you use solution-based mutual funds, insurance for child's education, your retirement goals?
Are dedicated investment offerings best suited for your targeted financial goal, with some added benefit over other alternatives? Whether you are saving for your child or your retirement, find out if a dedicated offering is the answer.
Falling small savings schemes rates have hit money goals of many: 4 ways investors can bridge the shortfall
Retirement is not the only goal at risk. A parent saving for his daughter’s education through the Sukanya Samriddhi Yojana will also witness a shortfall due to the decline in interest rates.
March 31 is last date to ensure timely deposit to continue with these old tax saving investments
Some of the schemes that require minimum deposit every financial year are PPF, NPS and Sukanya Samriddhi Yojana (SSY). If you have not deposited any money into these accounts for the current fiscal, then make sure you do it March 31, 2021, or else your account will become inactive.
Plus and minus points of various debt investment products and whom they will suit
Smaller banks offer better rates. However, weigh the risks before investing. While chasing higher returns, you should not ignore safety or tax implications. ET Wealth explores various debt products to help you choose the one most suitable.
How to save for your child's higher education
In the absence of a dedicated college-saving fund in India, the conundrum faced by parents on the choice of instrument is how to balance risk and return in the instrument. Here's why investing in mutual funds through SIPs would be a good option.
Are you a DIY ITR filer? Don't forget to report these incomes, assets in your tax return
ET Wealth's cover story looks at incomes that are taxable in the hands of an individual such as interest income from a savings account, capital gains from stocks, mutual funds etc. and are usually missed by the DIY taxpayers when they file their tax returns.
No penalty, revival fees for PPF, RD and other small savings schemes
The decision has been taken by the Ministry of Finance as many investors have not been able to deposit money into their accounts on time due to the nationwide lockdown.
I bought a flat in February and want to sell it in October 2020. What will be the tax implication?
If you are selling the flat in less than 24 months of purchasing it, the gains will be short term capital gains. These will be taxed at your applicable slab rate and there will be no indexation benefit.
Common application form issued for PPF, NSC and other small savings schemes
It must be recalled that the finance ministry had revised rules and introduced separate forms for each small savings scheme via a notification in December 2019.
How to invest in small savings schemes using the India Post Payments Bank app
The India Post Payments Bank (IPPB) offers a single view of all the post office investments and allows subscribers to manage thee efficiently. Subscribers are also able to deposit money online in their RD, SSY or PPF account using the IPPB application.
Govt may cut interest rate on PPF, NSC, other small savings schemes next quarter
During the current quarter, the government refrained from cutting interest rates on small savings schemes, such as Public Provident Fund (PPF) and National Savings Certificate (NSC), despite moderating bank deposit rates.
ICICI Bank slashes FD rates by up to 50 bps. Check the latest rates here
From now, the one-year FD will fetch 5.8 per cent per annum, down from 6.2 per cent (a 50 bps cut) and five-year FDs will now earn 6 per cent, down from 6.4 per cent (a reduction of 40 bps).
View: Victory of hope and aspiration, favouring tried and tested development model
If some of the closely fought assembly constituencies which NDA candidates lost by a narrow margin had been won, NDA would easily have gotten more than 135 seats. The spoiling nature of Chirag Paswan’s LJP also contributed to the election’s closeness.
PPF, NSC and other small savings scheme interest rates kept unchanged by govt
The finance ministry made this announcement via a circular dated September 30, 2020. As per the circular, the interest rate on small savings schemes for the third quarter of FY 2020-21 shall remain unchanged from those notified for the second quarter of the FY 2020-21.
Service charges for post office savings account, schemes
Individuals having post office savings account or small savings scheme accounts have to pay certain charges. For instance, charges are levied for getting a duplicate passbook for a post office savings account or on the transfer of account etc.
Will these mutual funds take care of my obligations like children’s education, marriage?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
PPF, NSC and other post office schemes interest rates remain unchanged
For Q1 of FY 2020-21, the government had slashed rates of small savings schemes by 0.7-1.40%. If the government had cut rates for this quarter as well in the similar fashion, then PPF would have fetched returns below the 7 per cent mark - a 46-year low.
Does my DIY mutual fund portfolio need any changes?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
I am a single mother. How should I plan for my son’s education and my retirement?
You should consider increasing the SIP amount with a rise in income or top up with a lump sum whenever you have a surplus. Also, you should consider increasing your health insurance cover from time to time.