Sukanya Samriddhi Yojana– Every parent wants their daughter to get a good education and a secure future. But this dream sometimes seems difficult amid rising college fees, coaching expenses and wedding preparations. To address this concern, the government has launched Sukanya Samridhi Yojana (SSY). This scheme has been specially designed for daughters and investment in it is completely safe.
8% interest and tax-free benefit
Currently, this scheme is giving 8% annual interest, which increases every year by compounding. The account lasts for 21 years, but the investor has to deposit money only for 15 years. The biggest relief is that the entire amount received on maturity is tax-free.
How to get Rs 16 lakh by saving Rs 35,000?
Suppose you deposit Rs 35,000 every year in the account. In 15 years, your total deposit amount will be Rs 5.25 lakh. You will get interest of about Rs 10.91 lakh on this. That means when the account completes 21 years, a fund of about Rs 16.16 lakh will be ready for your daughter. Your actual investment in this is only Rs 5.25 lakh, the rest of the amount will be made from interest.
In Sukanya Samriddhi Yojana, you have to invest for 15 years. Your investment matures in 21 years. You can make partial withdrawal of money from this scheme when your daughter turns 18 years old or passes 10th class. This scheme is quite popular in the country. People living in both rural and urban areas are opening their accounts under this scheme. This is a great investment scheme of the government towards making daughters self-reliant.
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