Sukanya Samriddhi Yojana: SSY is a small saving scheme. In this, accounts can be opened for daughters. An account under this scheme can be opened before the daughter completes 10 years of age. Currently, interest rate is available at the rate of 8 percent in Sukanya Samriddhi Yojana.
New Delhi: Inflation has increased a lot. It has now become very difficult to fulfill children’s dreams like higher education, marriage and owning a house. In order to meet such big expenses, a person gets into debt. The way to avoid this is to invest at the right time. Why not save money for children from an early age, so that in future, money can be raised for their higher education and marriage. There is a popular scheme of the government for daughters. By investing in this, you can not worry about the expenses of your daughter’s higher education and marriage. The name of this scheme is Sukanya Samriddhi Yojana. You can open your daughter’s account in this scheme. Let us know about this scheme in detail.
At what age to open SSY account
It would be best if you open your daughter’s Sukanya Samriddhi Account (SSY Account) as soon as she is born. You can open an account in this scheme for your daughter before she completes 10 years of age. If an investor opens an account in the scheme immediately after the birth of his daughter, he can deposit his contribution in the scheme for 15 years.
What is the interest rate?
The government decides the interest rate for this scheme every three months. The government has not made any change in the interest rate of Sukanya Samriddhi Yojana (SSY Interest Rates) for the quarter from July to September 2023. At present you will get interest at the rate of 8 percent per annum on this scheme. When the daughter turns 18, 50 percent of the maturity amount can be withdrawn. The remaining amount can be withdrawn when the daughter turns 21 years of age.
How will a fund of Rs 64 lakh be created?
If you deposit Rs 12,500 every month in Sukanya Samriddhi Yojana, then this amount will be Rs 1.5 lakh in a year. There will be no tax on this amount. If we take the interest rate on maturity as 7.6 percent, then the investor will be able to create a huge fund for his daughter by the time of maturity. If the investor withdraws the entire amount when his daughter turns 21, then the maturity amount will be Rs 63 lakh 79 thousand 634. The amount invested in this will be Rs 22,50,000. At the same time, the interest income will be Rs 41,29,634. In this way, if you deposit Rs 12,500 every month in Sukanya Samriddhi account, you can create a fund of Rs 64 lakh.
