SSY Calculation: SSY will earn Rs 2244845 in 21 years, calculate this way

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 However, when the daughter turns 18, money can be withdrawn for education or marriage.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.