New Delhi: Every parent is looking for a safe investment for the bright future and self-reliance of their child. The Central Government’s ‘Sukanya Samriddhi Yojana’ (SSY) has emerged as the most reliable and popular option in this matter. By starting to invest at the right time, you can create a huge fund of around Rs 70 lakh for your daughter, which will easily fulfill her major needs like higher education and marriage.

Great interest rate: investment small, profit big

The biggest feature of Sukanya Samriddhi Yojana is its attractive interest rate. Currently the government is on this scheme 8.2% compound interest annually Is giving. This rate is much higher than bank FD and other savings schemes. The special thing is that the government reviews interest rates every three months, due to which investors have the possibility of getting better returns as per the market.

Tax exemption and investment limits

This scheme not only improves the future but also saves taxes in the present. on the amount invested in it Section 80C of Income Tax Act Exemption is available under.

• Minimum Investment: Only Rs 250 per year.

• Maximum Investment: Rs 1.5 lakh per year.

• Deposit Method: You can deposit the money in monthly installments or in lump sum once a year as per your convenience.

When and who can open an account?

Sukanya Samriddhi Account from the birth of the daughter till her 10 years old It can be opened at any time till it is done. This account can be opened in the nearest post office or any authorized bank. Generally, there is a rule to open this account for maximum two daughters of a family, but in case of twin or triple daughters, more accounts can also be opened with special permission.

Maturity and withdrawal rules

From the date of account opening in this scheme up to 15 years Investing is mandatory. After this, only interest continues to be received on the account for the next 6 years.

• Partial Withdrawal: Of the total deposit for higher education when the daughter turns 18 or passes 10th 50% share Can be taken out.

• Full Maturity: The account becomes fully mature on completion of 21 years or at the time of daughter’s marriage.

Mathematics of making a fund of Rs 70 lakh

If you start investing from the first year of your daughter’s birth, the magic of compounding can take you closer to being a millionaire. Understand this complete mathematics from the table given below: