In an effort to promote the welfare of the girl child, post offices across Visakhapatnam will organize a special mela on January 24, 2025, to facilitate the opening of Sukanya Samriddhi Yojana (SSY) accounts. This initiative aims to encourage parents and guardians to secure the financial future of their daughters by taking advantage of the benefits offered under the SSY scheme.

Key Features of Sukanya Samriddhi Yojana:

- Interest Rate: The SSY offers an attractive interest rate of 8.2% per annum for the January to March 2025 quarter, compounded annually. 

- Eligibility: Parents or legal guardians can open an SSY account for a girl child below the age of 10 years. 

- Minimum and Maximum Deposits: A minimum deposit of ₹250 is required to open the account, with a maximum annual contribution limit of ₹1.5 lakh. 

- Tax Benefits: Contributions to the SSY account are eligible for tax deductions under Section 80C of the Income Tax Act, and the maturity amount is tax-free. 

Documents Required:

- Birth certificate of the girl child.

- Photograph of the parent or legal guardian.

- KYC documents of the parent or guardian (identity and address proof). 

Residents of Visakhapatnam are encouraged to visit their nearest post office on January 24 to open an SSY account and secure a prosperous future for their daughters.