Sukanya Samriddhi Yojana: Every parent’s top priority are their daughters’ happiness and future stability. Have you ever thought that your daughter’s future may be secured with modest investments, eliminating concerns about her school, profession, and marriage? With this objective in mind, the Central Government introduced the Sukanya Samriddhi Yojana (SSY). With fully guaranteed interest and maturity amounts, this plan gives parents a secure and dependable financial plan for their daughters.

Goals and Advantages of the Sukanya Samriddhi Yojana

This plan’s main goal is to provide daughters with financial security for the future. Investing in this plan not only eases concerns regarding future marriage and educational costs, but the interest received is also entirely tax-free. Furthermore, investments made through this program are exempt from income tax (Income Tax Section 80C). In this manner, parents can provide their daughters with tax advantages as well as financial stability.

How to Make Investments

Only daughters under the age of ten may create accounts under the Sukanya Samriddhi Yojana. A deposit of at least ₹250 and up to ₹1.5 lakh can be made each year. Even after fifteen years of deposits, the account is still open for 21 years. At the moment, this plan offers an annual interest rate of 8.2%, which is set quarterly by the government.

Let’s say you deposit ₹2,000 into SSY each month and your daughter is one year old. This translates to a ₹24,000 yearly investment. This sum can be deposited for 15 years, making the total investment ₹3.60 lakh. After 21 years, compounding at an annual interest rate of 8.2%, the maturity amount comes to about ₹11.08 lakh.

Time of Withdrawal

Only 21 years after the account was opened can the entire money be withdrawn. However, 50% of the account may be taken out early if the daughter turns 18 and requires money for her education; the remaining balance will be available when the account matures.

In addition to being a dependable investment choice, Sukanya Samriddhi Yojana gives parents financial security and strengthens their daughter’s future. You can provide your daughter with the chance to grow independent and realize her aspirations with modest investments.

Disclaimer: The information provided in this article is for general information purposes only. Scheme terms, interest rates, investment limits, and rules may change from time to time. Before making any investment or scheme-related decisions, please consult the official government website or bank branch for the latest information.