Sukanya Samriddhi Yojana: If you want to secure your daughter’s future, the Sukanya Samriddhi Yojana (SSY) could be an excellent option for you. By investing in this scheme, you can create a substantial corpus from small amounts, which can be used for her education, marriage, or other needs later on.
Understand the calculation
Suppose you deposit Rs 35,000 every year in this scheme in your daughter’s name. If you invest for 15 consecutive years, the total deposit will be Rs 525,000. Surprisingly, after 21 years, i.e., at maturity, you can receive approximately Rs 1616,435. This amount is completely tax-free and comes with a government guarantee. This plan is especially suitable for parents who are serious about their daughter’s future and want to ensure they don’t face financial difficulties when the time comes. It’s a safe and reliable option, especially for those who don’t want to invest in the stock market or risky schemes.
How to invest in Sukanya Samriddhi Yojana?
First of all, to open an account in Sukanya Samriddhi Yojana, you can go to any nearest post office or government/private bank (like SBI, PNB, HDFC, ICICI).
Here, daughter’s birth certificate, parent or guardian’s identity card (like Aadhaar or PAN card), residence certificate, passport size photo and account opening form have to be submitted.
The annual investment in this scheme ranges from Rs 250 to Rs 1.5 lakh, which can be made as a lump sum or in installments. The investment period is 15 years, but the account matures in 21 years.
Currently, the scheme offers an interest rate of around 8.2%, which is compounded quarterly and the maturity amount is completely tax-free, along with this, the investment also gets tax exemption under Section 80C.