The Government of India has initiated numerous schemes catering to individuals of all age groups. If you are considering investing funds for your daughter, you have the opportunity to open an account under the Sukanya Samriddhi Yojana (SSY). By contributing a certain amount to this scheme, you can generate a significant profit by the time of maturity, which can be utilized for educational purposes or for marriage.
A similar benefit is offered through the Sukanya Samriddhi Yojana, which is specifically tailored for daughters. A modest investment in this scheme can lead to the accumulation of a considerable amount over an extended duration. If invested wisely, an amount of just ₹12,500 can grow to a corpus of up to ₹70 lakh.
Details about the scheme
The Sukanya Samriddhi Yojana (SSY) is accessible for daughters aged between 10 to 15 years. Parents or guardians are permitted to open an account in the name of their daughter under this scheme. Investments can commence with a minimum of ₹1,000, while the maximum investment limit is established by the government. The account remains valid for 21 years and provides a competitive interest rate. A significant benefit of this scheme is that the investments are tax-deductible. By making regular monthly or annual contributions, investors can ensure a secure financial future for their daughters.
How to achieve good returns
Investing in the Sukanya Samriddhi Yojana can lead to the accumulation of a substantial amount over the long term. For instance, a consistent investment of ₹12,500 annually can yield approximately ₹70 lakh, inclusive of interest, over a span of 21 years. The funds deposited in the account can be allocated for your daughter’s education and marriage.
Furthermore, it is essential to ensure that the account is activated promptly and that regular contributions are made. The interest rate for the scheme is periodically determined by the government. Additionally, when opening an account, the daughter’s birth certificate and guardian identification are necessary. This scheme presents a straightforward and dependable method to secure the futures of daughters.
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