Invest 10000 & Earn ~51 Lacs on Maturity – Sukanya Samriddi Yojana
In the year 2015, the Modi government launched the Sukanya Samriddhi Yojana. The scheme was part of the Beti Bachao Beti Padhao campaign.
Today, the scheme is considered to be the most popular for the safe future of daughters. Under this scheme, any parent can open the account of a child below 10 years of age. After being mature in 21 years, a huge amount is available so that you can be free from the anxiety of your daughter’s studies and marriage.
The Sukanya Samriddhi Yojana (SSY) is getting interest at 7.6% annually, which is higher than schemes like fixed deposits, national savings certificate, monthly income schemes, kisan vikas patra and recurring deposits. In addition, you also get income tax exemption on SSY. Sukanya Samriddhi account can be opened in any post office or bank branch.
Listed below are all the important points related to the Sukanya Samriddhi Yojana:
- Open such SSY account in a bank or post office
- First you have to go to the post office or bank to open the Sukanya Samriddhi Yojana account and take the form.
- For this, the daughter’s birth certificate, parents photograph, identity card and address proof are the mandatory documents.
- Your account will open after verification of your documents from the bank or post office.
- Passbook is also given to the account holder after the account is opened.
- In this scheme you can open the account for 2 daughters. If twin daughters have been born, three accounts can be opened.
The SSY account can start at a minimum of Rs. 250. It can be deposited from 250 to 1.50 lakh in a financial year.
In this account you have to deposit money for 15 years. In 21 years, the account becomes mature. If the daughter dies, all the money in the account is returned to the family with interest.
Return amount 51 lakhs on deposit of 10,000 per month
Suppose your daughter is 1 year old. You have opened his account in the Sukanya Samriddhi Yojana today. In this scheme, you deposit Rs. 10,000 per month.
You have to deposit this money for a total of 15 years. That means a total of Rs. 18 lakhs. The scheme will be mature in the year 2041. The return you get at that time will be Rs. 50 lakh 92 thousand. That means you will get an interest of about Rs. 32 lakhs. Isn’t this a profitable deal?
Investment and Returns are Tax Free
Not only that. Under section 80C of income Tax Act, tax exemption is also available on investment in Sukanya Samriddhi Yojana. That means you can avail tax exemptions on an investment of Rs 1.5 lakh annually. The return from Sukanya Samriddhi scheme is also tax free.
This article has been written by Nilam Mehta and she is one of the owner of this site/blog.
Nilam has worked in Pharmaceutical industry and have studied – Lifestyle Medicine from Doane University; Science of Exercise from University of Colorado Boulder. She believes that many of health problems can be cured naturally.
You can reach her on [email protected]