PF

In this post, I am providing the list of banks where you can open the Sukanya Samriddhi account.  In March 2015, RBI sent notification to 28 banks regaring opening account under Sukanya Samriddhi Scheme Yojna. In my previous post, I explained the features of Sukanya Samriddhi Account. Read full details and review of this scheme Also see Maturity value amount & calculator - See details Below is the List of Banks  where you can open the Sukanya Samriddhi account State Bank of India Axis Bank Ltd. ICICI Bank Ltd. IDBI Bank Ltd. Allahabad Bank Bank of Baroda Canara Bank Punjab National Bank State Bank of Patiala State Bank of Bikaner & Jaipur State Bank of Travancore State Bank of Hyderabad State Bank of Mysore Andhra Bank Bank of India Punjab & Sind Bank Bank o...

In my previous post, I explained the features of Sukanya Samriddhi Account. Summary of its features are: Sukanya Samriddhi Account can be opened by parents for their girl child The account can be opened at Post office or at designated bank branches. Interest rate is 9.1% for current financial year. Interest rate for each year will be declared every year (like PPF)   The age of girl at the time of opening account should not be more than 10 years. Money must be deposited for 14 years. The maturity of the account is 21 years from the date of opening of account. Minimum deposit amount is Rs 1000 and maximum is Rs 1.50 lakhs per year You can also get benefit of 80C deduction for your investment Read full details about Sukanya Samriddhi Yojna Account Scheme at the post below: https://w...

In Jan 2015, the government has announced a new savings scheme called “SUKANYA SAMRIDDHI ACCOUNT” (SSA) / Sukanya  Samridhi Yojna which is mainly for saving money for the girl child’s education and marriage. It provides tax benefit u/s 80C as well as Interest rate of 9.1%.  9.2%. Interest rate for the current financial year 2015-16 is 9.20 per cent against 9.1 per cent in the previous year. In the post below, we will try explain the features of this savings scheme and answer your queries related to benefits and drawbacks of SUKANYA SAMRIDDHI ACCOUNT, how can one open this account, when you can withdraw money from this account, how this account is compared to other investment options like PPF. What is Sukanya Samriddhi Account? Sukanya Samriddhi Account (SSA) is an saving deposit investme...

Public Provident Fund (PPF) is one of the safest, long term investment options with tax benefits. This scheme is managed by Government of India. Why should you invest in PPF Account? Safe investment –  Government scheme Long term – 15 years Returns approx 8.5 – 9% Tax free Interest & tax free maturity amount Deduction u/s 80C for investment made in PPF Amount in PPF account is also exempt from Wealth tax. PPF account is free from attachment by a court in respect of any debt or liability Tax benefits of PPF Account PPF falls into E-E-E (Exempt-Exempt-Exempt) mode of taxation. Annual investment into PPF account is eligible for deduction u/s 80C Interest earned on the PPF account every year is Tax FREE Maturity Amount is Tax FREE Amount in PPF account is also exempt fro...