Normally, banks which offer to open public provident fund accounts also offer for Sukanya Samriddhi Yojana.
Sukanya Samriddhi Yojana (SSY): Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana -SSY) account can be opened in any post office or commercial bank. Generally, banks which have the facility to open Public Provident Fund-PPF account, also provide the facility to open Sukanya Samriddhi Yojana account. PM Modi launched this scheme in the year 2015. It gets 7.6 percent interest.
Let's know how to open an account
1 - First of all, you will need the form to open the Sukanya Samriddhi Yojana account.
2 - Birth certificate of daughter will be required.
3 - Parents' identity cards will be required. In which PAN card, ration card, driving license, passport can be attached with any documents.
4 - Parents will also have to submit documents for address proof. In which driving license, passport, electricity bill or ration card can be given.
5 - After verification of your documents from the bank or post office, your account will be opened.
5 - After opening the account, a passbook is also given to the account holder.
6 - The period of maturity in this scheme is up to 21 years of age of the daughter.
Know the special things related to the scheme
1 - 50% amount can be withdrawn for higher education after the daughter completes 18 years of age.
2 - Under this scheme you can open an account in the name of your daughter. In this, an account can be opened initially for 250 rupees. You can invest a maximum of Rs 1.5 lakh in it.
3 - Sukanya Samriddhi Yojana is currently receiving 7.6 percent interest annually.
4 - Under this scheme, tax exemption can be availed under Income Tax Section 80C by applying money.
5 - If your account has shifted elsewhere from the original place of opening, then there is nothing to worry, because this account can be transferred anywhere in the country. There is also no charge for this. The government pays the interest on Sukanya Samriddhi Yojana every quarter.
6 - The account can also be closed after 5 years of opening. Although it depends on many circumstances, such as if there is a dangerous illness or if the account is being closed for any other reason, it can be allowed, but the interest on it will be according to the savings account.
4 Golden Rules for Investing in Shares
If you want to invest in stocks, then remember these four main things.
1. Choose the right company - Choose a better and better company that has earned at least 20% profit on the capital of its shareholders.
Ideally a long-term investment (over 5 years) allows you to participate in the growth of the company.
In the short term (3 to 6 months), the performance of the stock is less driven by the company's core principle and more driven by the market price. Whereas in the long run, the relevance of the right price decreases.
2. Be Unscheduled - Investing in shares is a long learning process, in which you learn from your mistakes. These are some facts that can simplify this process.
Diversification in investment - Do not put more than 10% of your fund in a single share, even if it is a gem, on the other hand do not invest in too many shares because they are difficult to monitor. 15-20 different stocks is good for a less active long-term investor.
Use this asset allocation tool to find out whether you need to invest extra from stocks.
. Analyze your company's performance with its quarterly results, annual reports and news articles.
. Find a good broker and understand the settlement system.
Don't pay attention to hot tips because if it really worked, we would all be millionaires.
. Avoid the temptation to buy more because every purchase is a new investment decision. Buy as many shares of a company as per your total allocation plan.
3. Monitoring and reviewing - Regular monitoring and review of your investment. Keep an eye on the announcement of the quarterly results of the stock taken and keep writing the correction of share prices on your portfolio worksheet at least once a week. This work is more important for unstable times when you can get better opportunities to choose price.
For example, find out how you can buy 1 rupee coins for 50 paise coins buy 1 rupee coins at 50 paise
Also check that the reasons you bought the shares earlier are still valid or that there has been a significant change in your earlier estimates and expectations. Also adopt an annual review process so that you can check the performance of equity shares within your total asset allocation.
You can review RiskAnalyser if necessary as your risk profile and risk capacity may change over a period of 12 months.
4. Learn from mistakes - During review, identify your mistakes and learn from them, because no one can beat your own experience. This experience will become your 'pearl of wisdom' which will surely help you to become a successful stock investor.
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