Government Investment Scheme: If you are the father of a daughter, this news could be very important for you. The government is running several excellent schemes to make daughters financially independent. Currently, the government is running a remarkable scheme for daughters, which is proving to be a boon for them. As a daughter grows older, parents’ worries about her education and marriage increase. In today’s world of rising expenses, building a strong fund for the future is not easy. In such a situation, a special savings scheme of the government is proving helpful for millions of families.
This Scheme is a Boon for Daughters
This scheme is called the Sukanya Samriddhi Yojana, which has been launched specifically with the objective of securing the future of daughters. The investment made in this scheme is considered completely safe, and the interest earned on it is also better than other small savings schemes.
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Learn When You Can Open an Account
An account can be opened in the Sukanya Samriddhi Yojana from the birth of a daughter until she turns 10 years old. It allows you to deposit a minimum of Rs. 250 and a maximum of Rs. 1.5 lakh every year. Investment has to be made for a total of 15 years in this scheme, while the account matures in 21 years.
Learn How Much You Can Invest
If a parent deposits the maximum amount, i.e., Rs. 1.5 lakh every year for 15 consecutive years, then, according to the current interest rate of 8.2 percent, a fund of approximately Rs. 70 lakh can be created after 21 years. This amount can be a strong support for major expenses like a daughter’s higher education and marriage.
Daughters Get Tax Benefits
A major feature of this scheme is the tax benefit. The amount deposited in it is eligible for tax exemption, and the entire amount received on maturity is also tax-free.
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A Safe Option for Daughters’ Futures
The Sukanya Samriddhi Yojana is a better option for parents who want to create a secure future for their daughter without taking any risks. It doesn’t have the volatility of the stock market, and being a government scheme, it offers greater security. Starting investments at the right time can build a substantial fund by the time your daughter grows up, significantly reducing future financial worries.