If you possess a girl under the age of 10, then this is a chance to build something good for her. Sukanya Samriddhi Yojana isn’t any other savings account. It’s a powerful way of doubling your money. It’s a method of planning for your child’s future needs. For education and marriage, this fund can be the assistance she needs at the right time.
Small Steps Can Create a Big Future
Begin early, and the benefit just keeps on growing. You can start investing as low as ₹250 per year, but if you plan to take the long-term view, investing ₹12500 every month is a better idea. That amounts to ₹1.5 lakh in a year. You keep contributing money for 15 years, and then just let it grow.
How Much Will You Actually Get
Assume your daughter is 1 years old today and you begin investing ₹12500 every month starting in 2025. You would have invested ₹22.5 lakh after 15 years. With a current rate of interest being 8.2 percent, it grows by leaps and bounds. You don’t only earn interest. You earn money. When the maturity is in 2046, the figure may be ₹6927578. That is over ₹69 lakh waiting for your daughter when she turns 21.
Where and How to Open the Account
You can open an SSY account through any post office or authorized bank. It’s easy and quick. The account is in the name of your daughter but can be operated by a parent or guardian until she’s an adult. Two accounts only are allowed per family, except in the case of twins or triplets.
Withdraw When She Needs It Most
When your 18-year-old daughter becomes eligible for education, you can withdraw 50 percent of the money. College fees, coaching, or studying abroad are all possible expenses you can incur without an eye on the money. The remaining half is secure and continues to earn interest until she attains 21 years of age or gets married.
Tax-Free Returns That Put A Smile On Your Face
What is better than good returns? Tax-free returns. This plan gives you full exemption under Section 80C, and the interest and return at maturity aren’t taxed too. Each rupee ends up in your daughter’s pocket, not that of the taxman.
In short, if you dream of giving your daughter a life of possibilities, Sukanya Samriddhi Yojana could be your best bet today.