Selvamagal Semippu Thittam : How to invest and scheme details ?
Ranganathan P last edited by
I got blessed with a baby girl recently and I am looking to start a savings plan for my girl child. I came to know about Selvamagal Semippu Thittam scheme from a post office and it seemed same like Sukanya Samriddhi Yojana. Is that true ? Is Selvamagal Semippu Thittam same as Sukanya samriddhi Yojana ? Also can I invest into the scheme through postoffice like SSA ? Are the details like interest, lock-in period etc same for SSA ? Can someone help me with this information ?
Rajasekhar last edited by
selvamagal semippu thittam scheme is the name given to sukanya samriddhi yojana in Tamil nadu, the scheme details are exactly the same as SSA and it works for the benefit of girl child.
Ishu last edited by
Hi, I think it's the same as Sukanya Samriddhi Yojana (another name as used in TN). A small savings scheme to encourage people to save and invest their surplus money to earn adequate returns.
Sukanya Samridhii Yojana: Few points to Know
- The parents can open Selvamagal Semippu Thittam account in the name of girl child upto age of 10 years.
- The maximum amount that can be deposited in this account is Rs.1.5 lakhs only.
- The interest rate is 8.5% and that is revised from time to time.
- The initial deposit amount has also been reduced from Rs.1000 to Rs.250 only.
- A tax deduction u/s 80 C is also available.
What do you think about this savings scheme? Any feedback on it.