The central government has rolled out several investment schemes, and one of them is the Sukanya Samriddhi Yojana. This initiative aims to empower daughters, offering an attractive annual interest rate of 8.2%. It’s noteworthy that this is the only scheme providing such a high interest rate specifically for daughters, making it stand out from other options. Today, we’ll dive into the features and benefits of the Sukanya Samriddhi Yojana.
You can invest up to Rs 1.5 lakh each year in this scheme. It’s designed for daughters, allowing accounts to be opened for those under 10 years old. Each year, you can make a lump sum deposit ranging from Rs 250 to Rs 1.5 lakh.
Families can open accounts for a maximum of two daughters under this scheme. However, if a family has one daughter and then gives birth to twins, they can open accounts for all three daughters.
The scheme matures after 21 years, but you need to invest for 15 years. If your daughter turns 18 and you’re planning her wedding, you can close the account and withdraw the funds at that time.
One of the best parts of this scheme is the tax benefits. The money you deposit, the interest earned, and any withdrawals are all completely tax-free.
You can earn a fixed interest of Rs 46,77,578 on an investment of Rs 22.5 lakh.
If you set up an account under your daughter’s name and contribute Rs 1.5 lakh each year, your total investment will reach Rs 22,50,000. Once the account matures, your daughter will receive a total of Rs 69,27,578, which includes the interest of Rs 46,77,578. Remember, this is a government-backed scheme managed by the central government, so it’s totally secure and offers guaranteed returns.
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