Every parent wants their daughter to have a bright future and never face a shortage of money. If you are also looking for a safe and reliable investment plan for your daughter, then the Post Office Sukanya Samriddhi Yojana can be a great option for you. This scheme not only gives guaranteed returns, but the risk of investment in it is also negligible.
What is the Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a special savings scheme run by the Government of India, which has been designed keeping in mind the future of daughters. In this, you can open an account in the name of a daughter below 10 years of age. In this account, you can deposit an amount ranging from ₹ 250 to ₹ 1.5 lakh annually. This scheme is a boon for those families who want to save for their daughter’s education and marriage.
How to get ₹ 70 lakh
If you want your daughter to get around ₹ 70 lakh at the age of 21, then you have to save ₹ 12,500 every month and invest ₹ 1.5 lakh annually. Suppose you opened this account when your daughter was 5 years old and deposited ₹ 1.5 lakh every year for 15 consecutive years.
Your total investment in 15 years will be ₹ 22.5 lakh. This scheme offers compound interest, so after completion of 21 years, this amount will increase to about ₹ 69.27 lakh. Out of this, about ₹ 46.77 lakh will be received only from interest, which is a great return.
Special features of Sukanya Samriddhi Yojana
The most special thing about this scheme is that the interest received in it is completely tax-free. Currently, it is getting 8.2% interest, which is much better than other savings schemes.
You can withdraw money when needed
In this scheme, when the daughter turns 18 years old, you can make a partial withdrawal from the account for her higher education expenses. At the same time, you will get the full amount when the account matures, i.e., on completion of 21 years. In this way, this scheme provides a strong foundation to secure your daughter’s future.
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