SSY Calculation: SSY will earn Rs 2244845 in 21 years, calculate this way
Sukanya Samriddhi Yojana can reduce the tension of daughter’s marriage and studies.Understand from the calculation here, why investing in SSY is important.
SSY Calculation: Sukanya Samriddhi Yojana (SSY) is a savings scheme of the Government of India through which financial assistance is provided to the daughters of the country. SSY was launched in 2015 as part of the government initiative Beti Bachao, Beti Padhao campaign. Parents who invest in the scheme for daughters also get many benefits. The special thing about SSY is that you get huge interest on investment. At present, interest is being given at the rate of 8% per annum. Compared to many schemes available in the market, higher interest is being offered in SSY.
These are the rules of SSY account
Parents can earn strong returns from SSY by investing.A big benefit of Sukanya Samriddhi Yojana is that investors can save tax under Section 80C of the Income Tax Act, 1961.To avail the benefits of Sukanya Samriddhi Yojana, parents must open an SSY account before their daughter turns 10 years old.This account can be opened in any post office or authorized bank.
To open an SSY account, it is necessary to deposit at least Rs 250.At the same time, up to Rs 1.5 lakh can be deposited in a year.Investment has to be made in the account for 15 years.SSY account matures in 21 years.However, when the daughter turns 18, money can be withdrawn for education or marriage.SSY Calculator: You will get Rs 22 lakh by investing ₹50,000!
Suppose your daughter is 5 years old and you start investing from 2024. In such a situation, understand from this calculation how SSY is a profitable deal for you. If you invest ₹ 50 thousand annually, then you will have to invest the money in SSY till the year 2039. During this period you will invest a total of Rs 7,50,000. On this you will get only interest of ₹ 14,94,845.
When your daughter turns 18 (in the year 2042), you can withdraw some amount from the SSY account for education or marriage. At the same time, in the year 2045, the account will become completely mature and you will be given the investment amount and interest amount together which is ₹ 7,50,000 + ₹ 14,94,845 i.e. ₹ 22,44,845.
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
