Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana Calculator: Nowadays the expenses of children’s education and marriage have increased a lot. The common man finds it difficult to meet these expenses. But if you start investing for these big expenses well in advance, this problem will end. In such a situation, the government’s Sukanya Samriddhi Yojana is very effective for daughters. The government decides the interest rate of this scheme every three months. This is a government supported scheme, so there is no risk in it. At present, Sukanya Samriddhi Yojana is offering 8.2 percent annual interest rate. This is the interest rate compounded annually. This scheme is only for daughters. By opening an account in this scheme, you can deposit a substantial fund for your daughter’s higher education and marriage. Let us know the main things related to this scheme.
In Sukanya Samriddhi Yojana i.e. SSY, parents can open an account till their daughter completes 10 years of age. Sukanya Samriddhi account can be opened only for 2 daughters in a family. In cases of twins or triplets, more than 2 accounts can be opened. Contribution can be made in this scheme till the completion of maximum 15 years from the date of opening the account. If an investor opens an account in this scheme immediately after the birth of his daughter, he can deposit his contribution for 15 years. After this there is a lock-in period of 6 years. During this period no investment has to be made, but interest continues to be received. In this scheme, 50 percent of the maturity amount can be withdrawn when the daughter turns 18 years old. The remaining amount can be withdrawn when the daughter turns 21 years of age. In this scheme, the benefit of income tax exemption is also available on investment up to Rs 1.50 lakh in a year. This scheme comes with EEE status. That means, the investment amount, interest income and maturity amount are all tax free. In this scheme, a minimum of Rs 250 and maximum of Rs 1,50,000 can be deposited in a financial year. You can make this investment in installments or in lump sum.
Rs 70 lakh will be deposited
Suppose you open an account in Sukanya Samriddhi Yojana in the year 2024 when your daughter turns 1 year old. If you invest Rs 1,50,000 every financial year, you can get a total of Rs 69,27,578 at the time of maturity in the year 2045. The amount invested by you will be Rs 22,50,000 and the interest income will be Rs 46,77,578.
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