Open your daughter’s account in this government scheme, luck will shine, you will get 70 lakhs

Children It is very important to do financial planning for big expenses like studies and marriage. The Government of India’s Sukanya Samriddhi Yojana (SSY) can prove to be a great option for the financial future of daughters. It is a government-backed scheme, which is completely risk-free. This scheme is getting a compound interest of 8.2%. This scheme especially helps daughters to create a large fund for higher education and marriage. Let us understand some of the major things related to Sukanya Samriddhi Yojana and its benefits in detail.

Special things of Sukanya Samriddhi Yojana (SSY)

• Eligibility to open account: Parents can open their SSY account anytime before their daughter is completed at 10 years of age.
• How many accounts: Typically, SSY accounts can be opened for a maximum of 2 daughters in a family. However, more than 2 accounts can also be opened in cases of birth of twins or three girls together.
• Period of contribution: In this scheme, an account opening date can be contributed to a maximum of 15 years.
• Investment and Lock-in: If you open an account immediately after the birth of your daughter, you can invest for 15 years. This is followed by a 6-year lock-in period, in which you do not have to invest any, but you continue to get interest on your deposit.
• Partial withdrawal: Up to 50% of the maturity amount can be withdrawn when the daughter is 18 years old. The remaining amount can be completely withdrawn when the daughter is 21 years old.
• tax benefit: The SSY scheme comes with status ‘EEE’. This means that the annual investment of up to Rs 1.50 lakh made in this scheme, interest on it, and the full amount on maturity, the benefits of income tax exemption on all three.
• Minimum and maximum investment: You can deposit a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year. You can also invest this investment in installments or lump sum.

How to prepare a fund of ₹ 70 lakh?

Suppose you open an account in Sukanya Samriddhi Yojana for your 1 -year -old daughter in the year 2025. If you invest a maximum of Rs 1,50,000 in every financial year, then in 2046 you can get a total of ₹ 69,27,578 at the time of maturity. This amount will include a total amount of ₹ 22,50,000 you invested and a large interest benefit of Rs ₹ 46,77,578.

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