The interest being given in SSY is much better than other government schemes. Due to the benefit of compounding, a good amount of money can be saved for the daughter’s future through this scheme. Know how much you will get on maturity if you deposit Rs 1,00,000 annually.
To secure the future of daughters, the government runs Sukanya Samriddhi Yojana. In this scheme, investment can be started in the name of a daughter up to 10 years of age. Investment has to be made for 15 years and the scheme matures in 21 years. In SSY, the parents or guardians of the daughter can invest a minimum of Rs 250 per annum and a maximum of Rs 1,50,000 per annum.
At present, 8.2% interest is being given on this scheme, which is much better than other government schemes. Due to the benefit of compounding, a good amount of money can be saved for the daughter’s future through this scheme. Let us tell you that if you open this account in the name of your daughter and deposit Rs 1,00,000 annually, what will you get on maturity and in the name of how many daughters can SSY accounts be opened?
How much will you get on an annual investment of Rs 1,00,000
If you are depositing Rs 1,00,000 every year in the name of your daughter, then you will deposit a total of Rs 15,00,000 in 15 years. You will get Rs 31,18,385 as interest on this amount. In this way, you will get Rs 46,18,385 as maturity amount in 21 years. In this way, you can save a good amount for your daughter. If you start investing this year i.e. in 2025, then this scheme will mature in 2046.
You can invest for only two daughters
Many people are not aware that Sukanya Samriddhi Account can be opened in the name of only two daughters. If you have more than two daughters, you will not get the benefit of this scheme for the third or fourth daughter. However, if you have a second girl, twins or triplets, then Sukanya Samriddhi Account can be opened for them.
Open an account like this
Download the Sukanya Samriddhi Yojana form by visiting the bank or post office website. Print it out and fill it and attach all the required information, photographs and other documents like the girl’s birth certificate, photograph, guardian’s identity card etc. After this, go to the nearest bank branch or post office branch with the filled form and documents. Also take the original copies of all the documents with you. After this, the employees of the bank or post office where you are opening the account will check the form and match the attached documents with the original. After this, the account will be opened in your daughter’s name. After opening the account, you can do many things online.
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