Sukanaya Samriddhi Yojana : How Rs. 6000 p.m. can become Rs. 29.45 Lakh in Sukanya samridhi
Sukanaya Samriddhi yojana is a small deposit scheme launched exclusively for a girl child under Beti Bachao Beti Padhao Campaign. The scheme is meant to meet the education and marriage expenses of a girl child.
The scheme becomes very popular because it offers best interest rates than any other scheme with a handsome maturity amount as well as deduction under section 80C of income tax maximum upto Rs. 1.5 Lakh.
Who can open an account in Sukanaya Samriddhi Yojana ?
Following conditions should be fulfilled for opening an account :
- Indian Resident
- Age of girl child should not exceed 10 Years.
- Account cannot be opened for more than 2 girls in single family.
Investment Rs. 12500 per month from age of 1 Year
For instance if a person having one girl child opens a Sukanya Samridhi Account today and invest Rs. 1.5 Lakh in a Year then the maturity amount when the girl child becomes 21 years will be Rs. 61,37,261/-.
Investment portion in this will be Rs. 21,00,000 while the Interest portion will be Rs. 41,37,261/- which is fair enough for girls child higher education and marriage
Investment Rs. 5000 per month from age of 1 year
If a person invest in SSY Rs. 5000 per month then the maturity amount when the girl child becomes 21 years will be Rs. 25,59,149/- in this case Investment is Rs. 8,40,000 and interest amount is Rs. 17,19,149/-.
The amount invested will further be exempted from income tax under section 80C for amount upto Rs. 1.50 Lakh.