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Sukanya Samriddhi Account News
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Sukanya Samriddhi account can be opened by the natural or legal guardian for a girl child of age below 10 years.
Account can be opened for three girl children if two of them are twins
SSY scheme offers an attractive interest rate of 7.6 per cent.
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The SSY interest rate for Q2FY23 is 7.6%, which is still significantly higher than the inflation rate on average.
After 21 years of lock-in, a person will be able to accumulate roughly Rs 64 lakh for their girl child if they invest Rs 12,500 per month.
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The Sukanya Samriddhi Account matures in 21 years.
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Interest rate on Public Provident Fund (PPF) scheme will be 8.1 percent for the period April 1 to June 30, down from 8.7 percent.
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Know the new rate of interest on various small savings schemes for the first quarter of financial year 2016-17.
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Prime Minister Narendra Modi launched MUDRA Bank (Micro Units Development Refinance Agency) in April to boost funding of small businesses which are the catalysts of employment in the country.
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Investments in Sukanya Samriddhi Account, the special deposit scheme for girl child, will earn higher interest rate of 9.2 percent, while the rate on popular tax saving Public Provident Fund has been retained at 8.7 percent for 2015-16.
While the scheme has been notified by the government, the special interest rate applicable to it would be determined later.
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