Sukanya Samriddhi Yojana: If you are a father of a daughter, this news may be very important for you. The government is currently running a scheme that secures the future of daughters. If you also want to secure your daughter’s future, the Sukanya Samriddhi Scheme can prove to be very beneficial for you. The SSY scheme is one of the most reliable schemes for people.
If you invest a maximum of ₹1.5 lakh annually in the SSY scheme for your daughter, you will accumulate a substantial corpus upon maturity after 21 years. Investors in this scheme also receive tax benefits along with a safe investment.
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Learn the details of the SSY scheme
The SSY scheme is a central government savings scheme specifically designed for daughters. By investing in this scheme, you can create funds for your daughter’s education and marriage. Investors in the SSY scheme receive an interest rate of 8.2%. Interest at this rate is compounded annually and credited to the account every year.
How much will a deposit of ₹1.5 lakh create?
Suppose you deposit a maximum of ₹1.5 lakh for 15 years upon the birth of your daughter. According to the rules, the deposit can be made for 15 years, and the account matures at 21. This means you won’t have to deposit any money for 6 years, but you will continue to earn interest on your investment.
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Investing ₹1.5 lakh for 15 years yields ₹22.5 lakh, while at an interest rate of 8.2%, it will amount to ₹49.32 lakh, 119. This will result in a total of ₹71.82 lakh, 119. This amount will be sufficient for your daughter’s marriage and education.
Tax Benefits and Benefits
Deposits made under the SSY scheme are tax-free under Section 80C. The biggest advantage of this scheme is that the interest earned is completely tax-free. The maturity proceeds are also tax-free. The minimum investment required for this scheme is ₹250 and the maximum is ₹1.5 lakh.