Sukanya Samriddhi Yojana: From time to time, many schemes are run by the Central and State Governments for the women and girls of the country.
Through these schemes the government tries to make women self-reliant. Similarly, Sukanya Samriddhi Yojana (SSY) is being run by the Central Government for such daughters. The scheme has been launched by the Modi government at the Center to make special daughters self-reliant. Through this scheme, you can create a big fund by gradually depositing small amounts of money. At present, interest on Sukanya Samriddhi Yojana is 8 percent per annum.
There is no risk in investing in SSY. By investing in this scheme you can improve the future of your daughters. In this, the maturity amount is received when the daughter turns 21 years of age. This is the highest interest paying scheme among small savings schemes. The interest rates of Small Savings Scheme are reviewed every quarter.
How much return will you get on a monthly investment of Rs 5000?
By depositing Rs 5000 every month in Sukanya Samriddhi Yojana, you will have to deposit Rs 60,000 in a year. In this way, you will invest a total of Rs 9,00,000 in 15 years. Do not deposit money between 15 and 21 years. But interest will continue to be added on your amount at the rate of 8 percent. Now on total investment of Rs 9 lakh, you will get Rs 17,93,814 as interest. This will be almost double the total investment.
In such a situation, you will get a total of Rs 26,93,814 on maturity i.e. around Rs 27 lakh. You can start this scheme by investing at least Rs 250 annually. You can invest a maximum of Rs 1,50,000 annually.
Tax benefits are also available
Sukanya Samriddhi Yojana is a tax free scheme. Tax exemption is available on this at three different levels i.e. EEE. First, exemption on annual investment up to Rs 1.50 lakh under Section 80C of the Income Tax Act. Secondly, there is no tax on the returns received from it. Third, the amount received on maturity is tax free.
Open an account before the age of 10 years
Under Sukanya Samriddhi Yojana, account can be opened before the daughters complete 10 years of age. Accounts of maximum two daughters of the family can be opened in this scheme. By investing in this scheme, you can prepare funds for your daughter’s marriage and higher education.
