Are you want to completely secure your daughter’s future and build a corpus worth lakhs with a minimal investment, the Sukanya Samriddhi Yojana (SSY) is the best, government-guaranteed scheme for you.
This scheme comes with an attractive interest rate of 8.2%, where a mere ₹35,000 annual deposit can yield a tax-free corpus of over ₹16 lakh upon maturity. Learn how this superhit scheme lays a strong financial foundation for your daughter’s education and marriage, and how you can easily start investing in it.
Sukanya Samriddhi Yojana and Tax Benefits
The Sukanya Samriddhi Yojana was designed by the Government of India specifically for parents who want to ensure financial security for their daughter’s future. This scheme is the safest and most reliable option for those who wish to avoid the stock market or risky schemes.
The interest rate on this scheme is approximately 8.2%, offering the benefit of compound interest. The biggest attraction is that the amount deposited in this scheme, the interest earned, and the maturity amount are 100% tax-free, and you also receive tax exemption under Section 80C.
Small Savings to a Large Fund
This scheme demonstrates how regular and disciplined investing can create a fund worth lakhs. Suppose you deposit ₹35,000 every year in this scheme in your daughter’s name: you will invest continuously for 15 years, so your total deposit will be ₹5,25,000. This investment can yield a substantial sum of approximately ₹16,16,435 after 21 years, i.e., at maturity, based on an interest rate of 8.2%.
This amount is completely tax-free and ensures that your daughter does not face any financial difficulties during her education, career, or marriage. This scheme is a lifeline for parents who are serious about fulfilling their daughter’s dreams.
How to invest in Sukanya Samriddhi Yojana
Investing in the Sukanya Samriddhi Yojana (SSY) is extremely easy and a safe and beneficial option for your daughter’s future. To open an account, you need to visit any nearby post office or government/private bank (such as SBI, PNB, HDFC, ICICI) branch. You will need to submit certain documents to open an account. These include your daughter’s birth certificate, a parent or guardian’s identity card (such as Aadhaar or PAN card), a residence certificate, a passport-sized photo, and an account opening form.
Investment Limit
The annual investment limit in this scheme ranges from a minimum of ₹250 to a maximum of ₹1.5 lakh, which can be deposited in a lump sum or in installments. The investment period is 15 years, but the account matures at 21, when the daughter is ready for higher education or marriage.