Depositing ₹ 6,000 every month in Sukanya Samriddhi Yojana will give huge returns after 21 years, a fund of more than ₹ 33 lakh will be ready for the daughter; Understand the complete calculation

‘Sukanya Samriddhi Yojana (SSY)’ is the most popular and highest return giving scheme among the small savings schemes of the Central Government for the secure and bright future of daughters. This scheme proves to be a strong security cover for the parents to meet the expenses of daughter’s higher education, career building and marriage on time without any financial stress. Government is currently working on this scheme 8.2 percent annual interest rate Is giving, compounding of which is done on annual basis. If a parent disciplinedly saves ₹6,000 every month in this account in the name of their daughter, it is very important to understand the exact financial analysis of how much lump sum amount will be generated on maturity of 21 years.

The biggest advantage of Sukanya Samriddhi Yojana is that the investor does not have to deposit money for 21 years. As per rules, from the date of account opening only Contribution only for first 15 years This has to be done while the account matures in 21 years. During the last 6 years, the parent does not have to pay any additional amount from his own pocket, but the government keeps adding interest at the rate of 8.2% annually on the entire capital deposited in the account, due to which the effect of compounding increases rapidly.

If you open a Sukanya account in the name of your daughter aged 0 to 10 years and invest ₹ 6,000 per month, your total annual investment comes to ₹ 72,000. The financial math for 21 years based on the current annual interest rate of 8.2% is as follows:

• Monthly Investment: ₹6,000

• Annual Total Investment: ₹72,000 (₹6,000 × 12)

• Total investment period: 15 years

• Total investment in 15 years: ₹10,80,000 (₹10.80 lakh)

• Deposit amount in last 6 years: ₹0 (No additional investment)

• Total maturity period of the account: 21 years

• Total interest earned in 21 years (Estimated Interest): Approximately ₹22,54,000

• Total maturity amount to be received after 21 years (Maturity Corpus): Approximately ₹33,34,000 (Approximately ₹33.34 Lakh)

Simply put, the total amount deposited by you in 15 years will be around ₹10.80 lakh, but with the power of compounding, after 21 years your daughter will have a huge fund of around ₹33.34 lakh in her hands. In this, the interest earned is more than double the principal amount deposited.

To understand the financial evolution of Sukanya Samriddhi Yojana, it can be seen in two phases:

1. First 15 years (contribution period): You deposit ₹72,000 per year. By the end of the 15th year, your account will have a corpus of around ₹19.5 lakh to ₹20 lakh including principal and accumulated interest.

2. From 16th to 21st year (growth period): No new money is deposited during this 6 year period, but only the interest portion gets added every year from ₹ 1.6 lakh to ₹ 2.5 lakh at the rate of 8.2% on the base of ₹ 20 lakh. This is the reason that by the time it reaches maturity, the total fund touches the level of ₹ 33.34 lakh.

Sukanya Samriddhi Yojana is fully covered under the Income Tax Act. Exempt-Exempt-Exempt (EEE) Comes in category:

• Rebate on investment: ₹72,000 deposited every year gets tax deduction under Section 80C of Income Tax within the limit of ₹1.5 lakh.

• Zero tax on interest: There is no tax on the 8.2% interest added to the account every year.

• Full tax exemption on maturity: The entire amount of ₹ 33.34 lakh received on completion of 21 years is completely tax-free (100% Tax-Free).

The main rules set by the postal department and banks for operating the account in Sukanya Samriddhi Yojana are as follows:

• Eligibility: The age of the daughter should be less than 10 years. This account can be opened for a maximum of 2 daughters in a family (there is a provision for relaxation in special cases of twins or triplets).

• Minimum and maximum limits: A minimum of ₹250 and a maximum of ₹1,50,000 can be deposited in a financial year. ₹6,000 per month (₹72,000 annually) is well within this limit.

• Partial Withdrawal for Higher Education at 18: When the daughter completes 18 years of age or passes 10th class, the balance of the previous financial year can be used for admission to college or higher education. maximum 50 percent Part can be removed.

• Rules for closing account on marriage: If the daughter has completed 18 years of age and her marriage is fixed, then the entire amount can be obtained by prematurely closing the account by giving the necessary certificate.

This small and regular investment of ₹6,000 per month in Sukanya Samriddhi Yojana creates a strong financial shield of over ₹33 lakh when the daughter turns 21, without any loan to pursue her higher studies or dreams.