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SSY Vs SIP: For the future of daughters, the government runs Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana 20224). 8.2 percent interest is available in this scheme. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually in this scheme. This scheme matures in 21 years and in this scheme the parents have to deposit money in the name of the daughter continuously for 15 years. Parents of daughters up to 10 years of age can invest in this scheme and add a good amount through the scheme. This plan is great for parents who believe in a plan 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 through it you can deposit a huge fund in 21 years. Let us tell you how much return you will get by depositing Rs 5000 per month in SSY and what you will get by starting a SIP of the same amount?
SSY returns 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. This 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 a 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12 percent, then on an investment of Rs 9 lakh, you will get interest of Rs 16,22,880 in 15 years and if this amount is withdrawn in 15 years itself, you will get Rs 25,22,880. , which is on Sukanya Samriddhi. The return is equal to 21 years.
If you continue this investment for 1 more year i.e. 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.