Post Office’s Sukanya Samriddhi Yojana (SSY) is a small savings scheme in which you get a guaranteed return of 3 times your total investment on maturity. In this scheme, you have to invest only for 15 years, while interest continues to be received on the total deposit amount for the next 6 years, i.e., till maturity. Meaning, whatever you invest in 15 years, you will get more than 3 times that on completion of the scheme. If you deposit ₹5 lakh in 15 years, then on maturity, a fund of more than ₹15 lakh will be created. You can also deposit the maximum of ₹70 lakh in this saving scheme. This scheme matures in 21 years, which is a great way to secure your daughter’s future.
Know how your small investment will become a big fund
Let us understand with some examples how much benefit you can get by investing in the Sukanya Samriddhi Yojana:
On depositing ₹ 5000 every month
Year of opening the SSY account : 2025
Interest rate in SSY (annual) : 8.2%
Annual investment : 60,000
Total investment in 15 years : 9,00,000
Total amount on maturity in 21 years : 27,71,031
Interest benefit : 18,71,031
Year of account maturity : 2046
On the maximum deposit limit
Year of opening the SSY account : 2025
Interest rate in SSY (annual) : 8.2%
Annual investment : 1,50,000
Total investment in 15 years: 22,50,000
Total amount on maturity in 21 years: 69,27,578
Interest benefit : 46,77,578
Account maturity year : 2046
From these examples, you can guess how beneficial Sukanya Samriddhi Yojana can prove to be for your daughter’s future.
You will get a triple benefit of EEE
Sukanya Samriddhi Yojana is now currently earning interest rate at of 8.2 percent per annum. This scheme is also the tax-free. scheme. In this, you get tax exemption at three different levels, which is called EEE:
Exemption on investment up to ₹ 1.50 lakh annually under Section 80C of the Income Tax Act.
There is no tax on the full returns received from this amazing scheme.
The entire amount received on maturity is tax-free.
So, it not only gives good returns, but also saves you tax.
Who can open an account
Under this amazing scheme, the account can be also opened in the post office for the daughter below 10 years of the age. For this, it is necessary to have the daughter’s birth certificate. Identity proof and address proof of parents will also be required. Under this scheme, separate accounts can be opened for 2 daughters. In the case of twin daughters, more than 2 accounts can also be opened. This is a great opportunity to secure the future of your daughters.
Now you can start with a small amount, too
In the SSY scheme, it is necessary to deposit at least ₹ 250 in a financial year, which was earlier ₹ 1000. At the same time, a maximum of ₹ 1.50 lakh can be invested in a financial year. The investment option can also be every month, which will be a maximum of ₹ 12,500. Now you can start with a small amount and create a big fund for your daughter’s future.
Know the withdrawal rules
When the daughter turns 18, 50 percent of the amount can be withdrawn before maturity for her marriage. Apart from this, money can also be withdrawn after 5 years of opening the account under certain special circumstances, such as sudden death of the account holder, death of the guardian, serious illness of the account holder or inability to continue the account. This scheme has been designed keeping in mind the needs of your daughter.