SSY: For more than a couple of years, this specific scheme has become one of the most popular among common people. This scheme not only secure your girl child’s future, but also help you to save tax and accumulate a handsome amount of money in account.

The Sukanya Samriddhi Yojana has an investment period of 15 years. After this, the account continues to earn interest for 6 years, making the total maturity period 21 years. The Sukanya Samriddhi Yojana was launched on January 22, 2022,under the “Beti Bachao, Beti Padhao” campaign during the first term of the Modi government. Its objective is to ensure education, health, and a financially strong future for daughters. Upon maturity, the entire amount in the SSY account is transferred to the girl child, and she can use it for her education, marriage, or other needs. If the account is opened for a newborn daughter, it matures after 21 years. However, if the account is opened for a 4-year-old girl, it will mature after 25 years.

Eligibility and Deposit Limits

An account can be opened under the scheme for a daughter under the age of 10. A birth certificate and proof of identity and address of the parents are required.

Each parent can open separate accounts for their two daughters. In the case of twin daughters, more than two accounts can be opened.

The minimum annual deposit amount is ₹250 (earlier ₹1,000), while the maximum is ₹1,50,000 per financial year.

Investments can also be made on a monthly basis, up to a maximum of ₹12,500 per month.

According to financial experts, Sukanya Samriddhi Yojana offers a blend of safe investment and tax benefits for parents. This scheme not only secures the future of daughters but also empowers them financially. The high interest rate and the benefit of compounding make it more attractive than other savings schemes.

How to get Rs 70,000,00 in account?

if a parent invests ₹1,50,000 annually in the scheme in 2024, the total investment over 15 years will be ₹22,50,000. The total amount at maturity will be approximately ₹69,27,578, including interest benefit of ₹46,77,578. The Sukanya Samriddhi Yojana was launched on January 22, 2022,

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