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Every parent works hard for the bright future of their children. In this, the savings made by them play an important role, which most of the family members want to invest in such a place where along with keeping the money safe, they also get strong returns. Parents, especially worried about their daughters' marriage, save with the aim of accumulating a large fund. The Central Government is also running many schemes for daughters and Sukanya Samriddhi Yojana is very popular among them, which is helpful in removing the financial constraints from the daughter's education to marriage. Let us know the benefits of investing in it and the easy process of application…
Getting more than 8 percent interest
Sukanya Samriddhi Yojana is among the popular government schemes to secure the future of daughters. The reason why SSY scheme is so popular is also the interest received on investment in this scheme. This scheme is offering an excellent interest of 8.2 percent for the quarter January-March 2024. It is worth noting that Sukanya Samriddhi Yojana is a long-term investment scheme, which makes your daughter a millionaire and gets even more funds after she turns 21. Rs 69 lakh can be deposited in the daughter's account.
This way the daughter will become a millionaire!
Sukanya Samriddhi Yojana is a government scheme helpful in removing the tension from daughter's education to marriage. If we look at the calculation of investment and profit in this, if you open an SSY account in the name of your daughter at the age of 5 years and invest Rs 1.5 lakh in it annually, then when your daughter turns 21 years old. An amount of more than Rs 69 lakh would have been deposited in his account.
According to the interest received under the scheme, if you deposit Rs 1.5 lakh annually for 15 years in this scheme for your daughter, then the total amount invested by you will be Rs 22,50,000. At the same time, the interest on this at the rate of 8.2 percent will be Rs 46,77,578. That means when the daughter turns 21, she will get a total of Rs 69,27,578.
Starting from Rs 250, benefit of tax exemption also
Keeping in mind the future of daughters, the Narendra Modi (PM Narendra Modi) government of the Center had started Sukanya Samriddhi Yojana in the year 2015. Under this government scheme, an account can be opened with just Rs 250. Apart from this, excellent interest rates are also available. You also get tax benefits by investing in this scheme. Under Section 80C of Income Tax, the benefit of tax exemption up to Rs 1.5 lakh is available.
In SSY scheme, if needed, the facility to withdraw money before completion of maturity is also provided. After the daughter turns 18, the first withdrawal can be made from this account for studies. Even for education, only 50 percent of the amount deposited in the account can be withdrawn. For this, you will have to provide documents related to your daughter's education as proof. You can take the money in installments or in lump sum, but you will get it only once a year and you can withdraw the money in installments for five years.
Account can be opened for two daughters
To invest in Sukanya Samriddhi Yojana, it is necessary to be an Indian resident and the parent or legal guardian of the girl child. You can invest in Sukanya Samriddhi Yojana for daughters up to 10 years of age. You can open SSY account from the birth of your daughter till the age of 10 years. Under this scheme, accounts can be opened for maximum 2 girls. Whereas if there are twin daughters, then SSY account can be opened for all three.