The government of India has started many schemes for all age group peoples. Even, if you wish to invest some money for your girl child, you have the option to open an account in Sukanya Samriddhi Yojana (SSY). By investing some amount in the scheme you can accumulate a good profit during the maturity that can be used for education purpose or during the marriage.
A similar facility is provided through the Sukanya Samriddhi Yojana, which is specifically designed for daughters. A small investment under this scheme can accumulate a substantial sum over a long period of time. If invested at the right time, investing just ₹12,500 can accumulate a corpus of up to ₹70 lakh.
Details of the scheme
The Sukanya Samriddhi Yojana (SSY) is available for daughters aged 10 to 15 years. Parents or guardians can open an account under this scheme in their daughter’s name. Investments can begin with a minimum of ₹1,000, with a maximum investment limit set by the government. The account is valid for 21 years and offers a good interest rate. The key advantage of this scheme is that investments are tax-deductible. Investors can secure a safe deposit for their daughter’s future by making regular monthly or annual installment payments.
How to get good return
Investing in the Sukanya Samriddhi Yojana can accumulate a substantial sum over the long term. For example, a regular investment of ₹12,500 per year can accumulate approximately ₹70 lakh, including interest, over a period of 21 years. The funds deposited in the account can be used for your daughter’s education and marriage.
Also, ensure that the account is activated on time and regular investments are made. The interest rate of the scheme is determined periodically by the government. Additionally, the daughter’s birth certificate and guardian identification are required when opening an account. This scheme is an easy and reliable way to secure daughters’ futures.
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