If you are thinking of investing in your daughter’s name, then you have two best options. Through Sukanya Samriddhi, you can invest money in schemes giving guaranteed returns, or invest in market linked mutual funds through SIP. Know where and how much return you will get.
SSY Vs SIP: For the future of daughters, the government runs Sukanya Samriddhi Scheme (Sukanya Samriddhi Scheme 20224). 8.2 percent interest is available in this scheme. Minimum Rs 250 annually and maximum Rs 1.5 lakh can be deposited in this scheme. This scheme matures in 21 years and in this scheme, parents have to deposit money in the name of the daughter for 15 consecutive years. Parents of daughters up to 10 years of age can invest in this scheme and can add a good amount of funds through the scheme. This scheme is very good for those parents who believe in a scheme with safe and guaranteed returns.
But if you can take a little risk, then you can also invest in Mutual Funds for your daughter through SIP. Since it is market linked, you cannot be guaranteed security in it, but you can deposit a huge fund through it in 21 years. Let us tell you how much return you will get by depositing Rs 5000 per month in SSY and what will you get if you start a SIP of the same amount?
SSY return on monthly deposit of Rs 5000
If you invest Rs 5000 every month in Sukanya Samriddhi Yojana, then Rs 9,00,000 will be invested in 15 years. After this, parents will not have to invest in this scheme, but that amount will be kept locked. The scheme will mature after 21 years. If we look at 8.2 percent interest, then Rs 18,71,031 interest will be available on this scheme and Rs 27,71,031 will be available on maturity.
How much return from monthly SIP of Rs 5000
If you invest Rs 5000 every month in mutual funds through SIP, then in 15 years you will invest Rs 9,00,000 here also. The average return on SIP is considered to be 12 percent. In such a situation, if you calculate according to 12 percent, then in 15 years you will get Rs 16,22,880 interest on investment of Rs 9 lakh and if this amount is withdrawn in 15 years itself, then you will get Rs 25,22,880, which is on Sukanya Samriddhi. The returns are around the same as in 21 years.
If you continue this investment for 1 more year i.e. invest for 16 years instead of 15, then at the rate of 12 percent you will get Rs 29,06,891, which is much more than the returns of Sukanya Samriddhi Yojana. If you continue this investment continuously for 21 years, you can get up to Rs 56,93,371 through SIP. Whereas in 21 years your total investment will be Rs 12,60,000. That means you will get only Rs 44,33,371 as interest on investment.
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