Sukanya Samriddhi Yojana Benefits: The central government’s Sukanya Samriddhi Yojana (SSY) is a very popular small savings scheme in India. This scheme is specifically designed to secure the future of daughters. Under this scheme, if parents or guardians invest regularly every month, a large fund can be created for their daughter in the long term. For example, if Rs 12,500 is saved every month, approximately Rs 70 lakh can be accumulated in 21 years.
Currently, the SSY scheme offers an attractive interest rate of 8.2 percent on investments. This scheme is considered one of the safest investment options and is quite popular across the country.
Read Here: Earthquake Update – Earthquake tremors hit Lucknow, causing a stir
What is the investment age and amount?
A Sukanya Samriddhi Yojana account can be opened from the birth of a daughter until she turns 10 years old. The maximum annual investment limit in this scheme is Rs 1.5 lakh and the minimum is Rs 250. The investment period is 15 years, while the account matures in 21 years.
If parents deposit Rs 12,500 every month for 15 consecutive years, the total amount will reach approximately Rs 69.27 lakh upon maturity after 21 years, based on the current interest rate of 8.2 percent.
Read Here: Bharat Taxi App Now Books Metro Tickets Too — Check All New Features
Read Here: Monsoon Forecast – IMD Issues 72-Hour Heavy Rainfall Alert in 6 States, Check IMD Update
Benefit of tax exemption
A major advantage of the Sukanya Samriddhi Yojana is that the interest earned on it is completely tax-free. This investment provides tax benefits under Section 80C of the Income Tax Act. This means that the investor not only receives interest but also does not have to pay any tax on it.
Why is this scheme special?
The Sukanya Samriddhi Yojana is extremely useful for parents who want to create a fund for their daughter’s future through small savings. By opening an account on time and investing regularly, sufficient money can be accumulated for the daughter’s education, marriage, or other needs. This scheme is a safe, reliable, and beneficial long-term investment option.
Adarsh P
Adarsh Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...
Related Stories
Business
India
Business
Business
India
Gadgets
Auto
India
Gadgets
Auto