SSY- The biggest concern of every parent is their daughter’s future. They want that there should be no shortage of money at any point, be it studies or marriage. But often the question is how to create a big fund in limited income.
If the right plan is chosen for the daughter’s future in time, then even small savings can become a support of lakhs. The government has started such a special scheme. Which gives relief to the parents and can make the girl’s future secure. By depositing a small amount every month in this scheme, a big fund can be created in the future.
You can collect lakhs of rupees by depositing only 500 rupees per month. The name of this scheme started for daughters is Sukanya Samriddhi Yojana. It is run by the central government and gives guaranteed returns. Its purpose is to help parents to create a strong fund for their daughter’s education and marriage.
Under this scheme, an account can be opened in any bank or post office. The account will be opened in the name of the girl child and the parents will deposit money in it. The best thing is that one can start with just Rs 250 per month. While the maximum limit is Rs 1.5 lakh per annum.
If you deposit only Rs 500 every month. That is Rs 6000 annually. This amount is definitely small but by investing continuously for a long time, it turns into a big capital. The duration of the scheme is 21 years and during this period interest is also received.
If someone deposits Rs 500 every month for 15 years, then the total investment will be Rs 90000. After adding the interest received from the government, this amount can be around Rs 2.5 to 3 lakh on maturity. This is its real power that small savings create a big fund.
There is also a facility of partial withdrawal for the girl child when she turns 18 years old for her education. This means that if you need money for college fees or any other expenses, you can withdraw money from the scheme. The remaining amount remains safe till maturity and the interest keeps increasing.
