Sukanya Samriddhi Yojana: Currently 8 percent annual interest is available on Sukanya Samriddhi Yojana. If you invest Rs 5,000 every month in Sukanya Samriddhi Yojana, your annual investment will be Rs 60,000. In this way you will invest a total of Rs 9,00,000 in 15 years.
Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana is a scheme run by the government for girls. If you are the father of a daughter and your daughter is up to 10 years of age, then you can invest in this scheme to secure her future. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited per year in this scheme. In Sukanya Samriddhi Yojana, you have to invest continuously for 15 years and the scheme matures in 21 years.
If you invest even Rs 5,000 every month in this scheme, you can raise a good amount for your daughter till maturity and can easily fulfill all the responsibilities related to it.
Return on investing Rs 5000?
At present, 8 percent interest is available annually on Sukanya Samriddhi Yojana. If you invest Rs 5,000 every month in Sukanya Samriddhi Yojana, your annual investment will be Rs 60,000. In this way you will invest a total of Rs 9,00,000 in 15 years.
You will not have to make any investment between 15 and 21 years, but interest at the rate of 8 percent will continue to be added on your money.
If you calculate it according to the SSY calculator, you will get Rs 17,93,814 as interest on your total investment of Rs 9 lakh, which will be almost double your total investment.
In such a situation, you will get a total of Rs 26,93,814 i.e. about Rs 27 lakh on maturity.
If you start this investment in the year 2023, you will get the maturity amount in 2044. You can spend this amount as per your need in your daughter’s education or marriage etc.
Tax Benefits of Sukanya Samriddhi Yojana
The interest in Sukanya Samriddhi Yojana is reviewed on quarterly basis. In this, tax exemption is also available under Section 80C of the Income Tax Act.
You can claim tax exemption on maximum Rs 1.50 lakh. Under this scheme, you can open an account only for two daughters.
If you have more than two daughters, then you will not get the benefit of this scheme for the third or fourth daughter. However, if you have a second girl, twins, then Sukanya Samriddhi Account can be opened for her too.
