Every parent wants their children to be safe and when they are older, there is no shortage of money for their studies or marriage. If you are also looking for a fixed and reliable investment plan for your daughter, then Sukanya Samriddhi Yojana of the post office can be a great option for you. Not only does guaranteed returns get in this scheme, but the risk on investing in it is also very low.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a special savings scheme run by the Government of India, which is specially made keeping in mind the future of daughters. In this, you can open an account in the name of your daughter, but the condition is that the age of the girl is less than 10 years. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited in this account every year.
How can 70 lakh rupees be made?
If you want the daughter to get an amount of about Rs 70 lakh on completion of 21 years, then it is necessary that you save Rs 12,500 every month and invest Rs 1.5 lakh in a year. Suppose you opened this account at the age of 5 years of daughter and you deposited Rs 1.5 lakh every year for 15 consecutive years. In this way, your total investment in 15 years will be Rs 22.5 lakh. Since compound interest is available in this scheme, after 21 years this amount will increase to about 69.27 lakh rupees. It will earn about 46.77 lakh rupees only from interest.
The most special thing about this scheme is that the interest received in it is completely tax free and at this time this interest rate is 8.2 percent, which is better than other savings schemes. Under this scheme, when the daughter turns 18, then you can do partial withdrawal from it, which can be very helpful for her education expenses. At the same time, the entire money will be received when the maturity of the account will be completed i.e. 21 years will be completed.