International Women’s Day (IWD) is celebrated on March 8, every year. It’s a day to recognize and honor the important achievements of women around the world. Furthermore, this day is also a chance to raise awareness about the need for gender equality, which means giving men and women the same rights and opportunities.

Every year, there is a special theme for International Women’s Day, which focuses on current issues that are important to women’s rights and their empowerment. Likewise, empowerment means giving women the strength, confidence, and ability to make choices and control their own lives. Central government’s Sukanya Samriddhi Yojana is one of the best thing you can opt to gift your daughter this women’s day. The scheme is to empower women.

Let’s delve into the details of the scheme to make a wise choice.

Features Of The Sukanya Samriddhi Yojana

• Interest rate of 8.2%, which is fully exempt from tax under section 80C.
• Minimum Rs 250 and maximum Rs 1,50,000 can be invested in one financial year.
• If the minimum amount is not deposited in any financial year, a penalty will be levied of Rs 50.
• Deposits can be made into the account until it reaches 14 years from the date it was opened.
• The account will mature after 21 years from the opening date, unless the account holder gets married before that, in which case the account will be closed on the date of marriage.
• Passbook are issued to the customers.
• Withdrawal facility in certain cases: 1- to meet the financial requirements of the account holder for the purpose of higher education and marriage, account holder can avail partial withdrawal facility after attaining 18 years of age. 2- If the beneficiary is married before maturity of account, the account has to be closed.

Eligibility

• The account beneficiary must be an Indian citizen and resident in India at the time of account opening, and must continue to be so until the account reaches maturity or is closed.
• A natural or legal guardian can open the account on behalf of a girl child who is under 10 years old.
• According to the rules, a depositor can only open and manage one account per girl child.
• Natural or legal guardian of a girl child can open the account for two girl children only.