Government Special Scheme: The central government launched the Sukanya Samriddhi Yojana to make daughters’ futures financially secure. This scheme is considered one of the most reliable and popular small savings schemes in the country today. Due to its secure investment, attractive interest rate, and tax benefits, this scheme is rapidly gaining popularity among parents.

Objective of Sukanya Samriddhi Yojana

The main objective of this scheme is to create a strong long-term fund for daughters’ education and future needs. Since it is government-backed, the investment is considered completely safe. This is why this scheme has become an ideal option for middle-class families.

When and how to open an account

A Sukanya Samriddhi Yojana account can be opened anytime from the birth of a daughter until she turns 10 years old. The account is opened by the parents or legal guardian at a post office or an authorized bank. Only one account is allowed per daughter.

Complete information on investment limit and duration

The minimum investment amount in this scheme starts from Rs. 250, while the maximum is Rs. 1.5 lakh can be invested in a financial year. The investment period is 15 years, but the account matures after 21 years. At maturity, the full benefit of the deposited amount, along with interest,t is received.

How Rs 12,500 per month becomes Rs. 70 lakh

If a guardian deposits Rs. 12,500 every month, the annual investment becomes Rs. 1.5 lakh. Investing continuously for 15 years, the total deposited amount will be Rs. 22.5 lakh. According to the current interest rate of 8.2 percent, this amount can grow to approximately Rs. 69 to 70 lakh after 21 years.

Interest rate and security assurance

The interest rate offered in the Sukanya Samriddhi Yojana is determined by the government from time to time. Currently, the interest rate is 8.2 percent, which is considered quite attractive compared to other small savings schemes. Since it is a government scheme, there is no risk of losing your capital.

Additional benefit through tax exemption

The biggest advantage of this scheme is related to taxes. The investment made in this scheme is eligible for tax deduction under Section 80C of the Income Tax Act. Moreover, the interest earned and the maturity amount are completely tax-free.

Why is this scheme beneficial for parents?

For parents who want to build a substantial fund for their daughter’s education and marriage through small savings, the Sukanya Samriddhi Yojana is a strong option. Opening an account on time and investing regularly significantly reduces future financial worries.