New Delhi: The Indian government introduced a programme, Sukanya Samriddhi Yojana (SSY), allowing parents to open savings accounts for their daughters. This initiative enables them to earn interest on the deposited money, which can later be used for the daughter’s education and wedding expenses, offering an attractive interest rate of 8.5 percent per year.
What Is Sukanya Samriddhi Yojana And Its Benefits?
Sukanya Samriddhi Yojana stands out as an excellent program, allowing contributions as low as Rs 250 per month towards securing the financial future of daughters.
Investments in an SSY account for a financial year are capped at Rs 1.5 lakh, with the added benefit of claiming tax advantages under section 80C. By consistently setting aside a modest amount each day and depositing it into an SSY account monthly, individuals can accumulate a substantial sum over time.
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Sukanya Samriddhi Yojana: Return Calculator
For instance, by saving just Rs. 35 per day, you can invest Rs 1050 every month and witness your investment grow to over Rs 5 lakh at the current interest rate.
Similarly, a modest daily savings of Rs. 100 can lead to a monthly investment of Rs. 3000 in an SSY account, resulting in a maturity amount of almost Rs 16 lakh.
For those looking to invest Rs 6000 per month, setting aside Rs 200 per day can lead to a maturity amount exceeding Rs 33 lakh at the current interest rate.
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A more substantial monthly investment of Rs. 9000, achieved by saving Rs 300 per day, can result in an impressive maturity amount of over Rs 50 lakh.
