Sukanya Samriddhi Yojana: The biggest priority of every parent is to secure the future of their children, especially daughters. As daughters grow up, parents naturally start worrying about the huge expenses related to their higher education and marriage. In such a situation, it is very important to prepare a strong economic base in time. In this direction, ‘Sukanya Samriddhi Yojana’ (SSY) run by the Government of India has emerged as a very safe and excellent option. The biggest feature of this government scheme is that the returns received in it are completely tax-free, due to which the entire benefit goes directly to your daughter.
How to create a fund of Rs 40 lakh from Rs 200?
If you start investing in a planned manner from today itself, then saving just Rs 200 daily can give you a fund of more than Rs 40 lakh on maturity. This amount is enough to give a new flight to your daughter’s career without any financial hindrance.
If you save Rs 200 daily and invest it in Sukanya Samriddhi Yojana, then your total investment becomes Rs 6,000 in a month. The government is currently giving annual interest on this scheme at an attractive rate of 8.2 percent. If we look at the mathematics of investment for 21 consecutive years considering this interest rate as the basis, then the situation will be something like this.
- Monthly investment: ₹6,000
- Total Principal Invested: ₹15,12,000
- Estimated interest (at the rate of 8.2%): ₹25,21,942
- Total amount received on maturity: ₹ 40,33,942 (approximately Rs 40.33 lakh)
Keep one thing in mind that under the actual rules of Sukanya Samriddhi Yojana, money has to be deposited only for the first 15 years from the time the account is opened, whereas the account matures on completion of 21 years. The above figure of Rs 40 lakh is based on an approximate calculation of investing the same amount for 21 consecutive years and an interest rate of 8.2%
Also know the investment limits and conditions
Sukanya Samriddhi Yojana has been designed in such a way that every citizen of the country can easily avail its benefits. Those who cannot invest large amounts can keep this account running with a minimum of just Rs 250 in a financial year. At the same time, if your financial condition allows, you can deposit a maximum of Rs 1,50,000 in a year. The current interest rate of 8.2% makes it much more profitable than other safe investment options available in the market.