Sukanya Samriddhi Yojana: If you recently had a daughter, or you already have one, there’s some good news for you. The government has a wonderful scheme in which you can save small amounts of money and create a fund of lakhs for your daughter. This scheme is called the Sukanya Samriddhi Yojana.
The government offers a healthy interest rate of 8.2% and offers tax benefits. The best part is that you only need to deposit a small amount each month, and when your daughter turns 21, you have a substantial deposit ready. This scheme can be helpful for major expenses like your daughter’s education and marriage.
How much interest is received in the scheme?
This scheme still offers 8.2% annual interest, which is completelytax freeThis means that if you start investing in this scheme immediately after your daughter’s birth and contribute a fixed amount every month, you could receive up to Rs 5 lakh by the time she turns 21. This is why this scheme is considered an excellent investment opportunity, especially for securing your daughter’s future.
You can make a loan in your daughter’s name for just Rs 250
This account can be easily opened at your nearest post office or authorized bank branch. Under this scheme, you have to invest for 15 years, and the full amount is disbursed when your daughter turns 21. Parents from all walks of life can invest in this scheme, regardless of their income. The account can only be opened in the name of a daughter. A maximum of two daughters can be accounted for in a family.
If you deposit Rs 1,000 every month, or Rs 12,000 annually, you will accumulate a total of Rs 1,80,000 in 15 years. This will earn you approximately Rs 3,74,612 in interest. Thus, when your daughter turns 21, you could receive a total of Rs 5,54,612, even if you invest just Rs 1,000 per month.
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