If you also want to make your daughter’s future bright, then start investing in Sukanya Samriddhi Yojana (SSY) in her name from now on. With this scheme, you will be able to save a good amount till the age of your daughter’s marriage or higher education. This Central Government Scheme has been started especially for daughters, the aim of which is to make them self-reliant. In such a situation, you can also create a better future for your daughter by opening an account in it.
For how long do you have to deposit money
In Sukanya Samriddhi Yojana, money has to be deposited for 15 years from the date of opening the account. For investment in this scheme, a minimum of ₹ 250 and a maximum of ₹ 1,50,000 can be invested per financial year. This facility has been created keeping in mind those parents who want to create a big fund for their daughter even by making small savings.
How much will you get if you deposit ₹12,500 every month
Let us understand how this scheme can multiply your investment with an example:
Monthly investment: ₹12,500
Annual investment: ₹1.5 lakh (₹12,500 x 12)
If your daughter is 1 year old now and you start investing in it immediately from 2025, then:
Total deposit amount in 15 years: ₹22,50,000 (₹1.5 lakh x 15 years)
Current interest rate: 8.2% per annum.
At this interest rate, the total interest amount will be ₹46,77,578.
That is, on maturity in 2046, you will get a total of ₹69,27,578.
This amount will prove to be a great support for your daughter’s higher education or marriage so that you will not feel financial pressure.
Where to open a Sukanya Samriddhi Yojana account
Under the Sukanya Samriddhi Yojana, you can open an account in the Post Office or any authorized bank. The account matures when the girl turns 21 years of age or gets married (after the age of 18). On maturity, you can withdraw the entire amount including interest. However, if you want, you can withdraw up to 50% of the money for the girl’s education when she turns 18. This facility provides a great opportunity for the higher education of daughters.
Open an account in the name of parents for a daughter under 10 years of age
SSY account can be opened in the name of parents or legal guardians of a girl under 10 years of age. This account can be opened for a maximum of 2 girls in a family. But in the case of the birth of twins or triplets, more than 2 accounts can be opened.
The biggest advantage of Sukanya Samriddhi Yojana is that you also get the benefit of tax exemption under Section 80C of the Income Tax Act, 1961. This means that you can save tax on investments up to ₹ 1.5 lakh, and the interest and maturity amount received from this scheme is also completely tax-free.