SSY Scheme: Sukanya Samriddhi Yojana (SSY) is an excellent small savings scheme run by the Government of India keeping in mind the bright future of daughters and their education and marriage expenses.
This scheme was started under the Beti Bachao, Beti Padhao campaign and attractive interest rates and tax benefits are given by the government on investment in it. If you also want to make your daughter’s future bright and make her happy and prosperous, then you have to deposit only Rs 3000 monthly under this scheme. After doing this, your daughter will get Rs 10 lakh. Let’s know its method.
Investment plan to get Rs 10 lakh under the scheme
If you want to create a corpus of Rs 10 lakh for your daughter, you will have to make regular monthly investments in Sukanya Samriddhi Yojana. The current interest rate of this scheme is 8% (January-March 2024), which is revised by the government from time to time.
Calculating monthly investment to create a fund of Rs 10 lakh
A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be invested annually in Sukanya Samriddhi Yojana. If you want your daughter to get Rs 10 lakh on maturity, you will have to deposit a fixed amount every month.
- Scheme tenure: Investment for 15 years and maturity in 21 years
- Interest Rate: 8% p.a. (including compound interest)
- Monthly investment: Rs 3000 to Rs 3500
- Total investment amount: Rs 5,40,000 (over 15 years)
- Total return after 21 years: More than Rs 10 lakh
Invest like this
- SSY account can be opened for 10 years from the birth of the daughter.
- You can invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh annually.
- In this scheme, money has to be deposited for 15 years, after which interest continues to be received for 6 years.
- After completion of 21 years, the daughter gets Rs 10 lakh or more.
Benefits of SSY Scheme
- Bumper Returns: Better interest rate than PPF and FD
- Tax benefit: Investment, interest and maturity amount are tax exempted under section 80C
- Government Guaranteed Scheme: This is a government-backed scheme, hence safe and reliable.
- Funds for daughter’s education and marriage: The aim of the scheme is to make daughters financially capable.
You have to do this work
If you want your daughter to get an amount of Rs 10 lakh, then you have to invest Rs 3000 to Rs 3500 monthly in SSY. After investing regularly for 15 years, you will get an amount of more than Rs 10 lakh in 21 years. This scheme is an excellent option for long-term savings and bright future of daughters.
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