Sukanya Samriddhi Yojana: Securing your daughter's future is no longer difficult in this era of inflation. The central government's Sukanya Samriddhi Yojana is giving parents the opportunity to build a massive fund of ₹70 lakh for their daughter's higher education and marriage.
Sukanya Samriddhi Yojana: Every parent dreams of their daughter's higher education and marriage being completed splendidly without any financial difficulties. But in today's crushing inflation, building a large fund is a major challenge. In such a situation, the central government's Sukanya Samriddhi Yojana (SSY) has emerged as a safety net. This small savings scheme is not only safe but also has the power to make you a millionaire in the long term.
What is this scheme, and who can benefit from it?
This scheme is specifically designed for the bright future of daughters. You can open this account anytime from your daughter's birth until she turns 10 years old. Investing in it is very easy. You can deposit a minimum of ₹250 to a maximum of ₹1.5 lakh per year.
How much return will you get?
The interest offered in the Sukanya Samriddhi Yojana is far better than bank fixed deposits (FDs). Currently, the government is offering a fantastic interest rate of 8.2%. You only have to deposit money for 15 years. The account matures when your daughter turns 21. If you save ₹12,500 every month, your daughter will have a large fund of approximately ₹70 lakh after 21 years. This amount is sufficient for her studies to become a doctor or engineer, or for a grand wedding.
Tax savings and government guarantee
Away from market fluctuations (like the stock market), this is a completely safe government scheme. Its biggest feature is the 'Triple E' (EEE) status:
- Tax exemption is available on the invested amount.
- No tax is levied on the interest earned.
- The entire amount received at maturity is also tax-free.
Why is this the best option?
This scheme is best for middle-class families because it involves zero risk. If you start investing immediately after your daughter's birth, you will have a strong financial foundation by the time she reaches the age to pursue her dreams.
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