Sukanya Samriddhi Yojana: Investment Of Less Than Rs 7000 Can Give You Over Rs 25 Lakh In Return; Know How

Sukanya Samriddhi Yojana Account: Sukanya Samriddhi Yojana is a very popular investment scheme that can help you make the future of your girl child financially secure. Sukanya Samriddhi scheme is a small deposit scheme of the Government of India meant exclusively for a girl child and is launched as a part of the Beti Bachao Beti Padhao Campaign.

If you are a father of a 10-year-old girl child and finding ways to give her high-quality education and make her a strong independent woman, this scheme can be of great help. Sukanya Samriddhi Yojana or SSY is also an awesome scheme in the sense that here you can start investment with a bare minimum amount of of Rs 250, while the maximum amount you can deposit in this scheme is Rs 1.5 lakh per year.

In Sukanya Samriddhi Yojana, you need to make a continuous investment for 15 years and the maturity period of the scheme is 21 years. This means that if you start investing in this scheme this year i.. e 2023, you will get the maturity amount in 2044.

Currently, Sukanya Samriddhi Yojana offers an interest of 8% per annum.

Say suppose, you belong to a middle-class family and want to invest up to Rs 5,000 each month in this scheme, you can get an attractive amount for your daughter till maturity and this will allow you to fulfill all your responsibilities as a father, be it your daughter's marriage, her high education and helping her start a new business.

How to get Rs 25 lakh by investing just Rs 5000 in Sukanya Samriddhi Yojana each month?

If you make a monthly investment of Rs 5,000 in Sukanya Samriddhi Yojana, then your yearly investment will be (12x5000), Rs 60,000. If you continue with this investment for 15 years, your total investment during this period will be Rs 9,00,000. Remember that even if you do not make any investment in this scheme between 15 to 21 years, you will receive the interest of 8% which will be added to your amount.

If we calculate this with the help of the SSY calculator, the scheme will offer you an interest of Rs 17,93,814 on your overall investment of Rs 9 lakh. This amount of Rs 17,93,814 which you will receive as interest payment will be almost double of your total investment.

When we add the principal amount (the amount you invested) and the interest on it for 15 years, the total amount you will receive at the end of the maturity period will be Rs 26,93,814, i.e. approximately Rs 27 lakh.

Noticeably, Sukanya Samriddhi Yojana does not only give you a higher ROI, but the scheme can also help you get tax exemption.

An individual can claim tax exemption of up to Rs 1.50 lakh under this scheme.

How to open a Sukanya Samriddhi Yojana Account?

• Fill out the account opening form
• Keep all the documents ready along with photographs. Documents you will need include an account opening form, and valid address proof of the guardian or parents of the beneficiary like a passport, ration card, and electricity bill among other valid ID documents.
• Pay the deposit amount (any amount between INR 250 and INR 1.5 lakh)
• You can give a standing instruction at the branch or you can set up automatic credit to your SSY account through net banking.