The central government is running Sukanya Samriddhi Yojana for daughters. Parents can financially secure the future of their daughters by investing in this small savings scheme. Sukanya Samriddhi Yojana is a long term scheme. By investing in this, parents can add money for their daughter’s education and marriage. Recently, the government has also increased the interest rates of this scheme. For the current quarter, the government has increased the interest rate from 7.6 percent to 8 percent.
How much can invest?
Sukanya Samriddhi Yojana opens for 21 years. But parents have to deposit money only for the initial 15 years. The account remains operational for six years without depositing money. Under the Sukanya Samriddhi Yojana, the account of daughters below the age of 10 years is opened only in the name of their parents. Under this scheme, you can deposit from Rs 250 to Rs 1.50 lakh annually.
How to open account?
Earlier, in this scheme, tax exemption was available under 80C only on the account of two daughters. But a few months ago the rules of the scheme were changed and now if two twin daughters are born after one daughter, then tax exemption will be given on their account as well. To take advantage of this scheme, you can open an account by going to any nearest post office or bank. The amount of investment in Sukanya Samriddhi Yojana account can also be deposited in cash, cheque, demand draft or in any other way which is accepted by the bank.
The scheme matures in 21 years
Sukanya Samriddhi Yojana matures in 21 years. However, after the girl turns 18, the amount can be withdrawn from this account for studies. The entire amount can be withdrawn only after 21 years. By February 2023, about 3 crore accounts have been opened so far under this scheme. In the year 2015, this scheme was started by the government to financially secure the future of daughters. You can start investing in this scheme with just Rs 250.
This is how you will get 65 lakh rupees
If a parent invests Rs 12,500 every month since the birth of a daughter, then in a year they will accumulate Rs 1,50,000 lakh. In this way he will invest Rs 22,50,000 in 15 years. Now if we look at the old rate of 7.6 percent, then Rs 43,43,071 will be received as interest. In this way, he will deposit Rs 65,93,071 for his daughter by the time the scheme matures.
Maturity Value
65,93,071
Total Interest
43,43,071
Total Investment
₹ 22,50,000
Maturity Year
2044
