Sukanya Samriddhi Yojana Calculator: Nowadays the expenses of children’s education and marriage have increased a lot. The common man finds it difficult to meet these expenses. But if you start investing for these big expenses well in advance, this problem will end. In such a situation, the government’s Sukanya Samriddhi Yojana is very effective for daughters. The government decides the interest rate of this plan every three months. This is a government-backed plan, so there is no risk involved. Currently, Sukanya Samriddhi Yojana offers an annual interest rate of 8.2 percent. This is the interest rate compounded annually. This plan is only for daughters. By opening an account in this scheme, you can deposit a substantial fund for your daughter’s higher education and marriage. Let us know the main aspects related to this scheme.
- Under Sukanya Samriddhi Yojana i.e. SSY, parents can open an account till their daughter turns 10 years old.
- Sukanya Samriddhi account can only be opened for 2 daughters in a family. In the case of twins or triplets, more than 2 accounts may be opened.
- Contribution can be made in this plan until the completion of a maximum of 15 years from the date of account opening.
- If an investor opens an account in this scheme immediately after the birth of his daughter, he can deposit his contribution for 15 years. After this there is a 6 year lock-in period. During this period it is not necessary to make any investment, but interest continues to be received.
- In this plan, 50 percent of the maturity amount can be withdrawn when the daughter turns 18 years of age. The remaining amount can be withdrawn when the daughter turns 21 years old.
- In this scheme, the benefit of income tax exemption is also available for investments up to Rs 1.50 lakh in a year.
- This scheme comes with EEA status. That means the investment amount, interest income, and maturity amount are tax-free.
- In this scheme, a minimum of Rs 250 and a maximum of Rs 150,000 can be deposited in a financial year. You can make this investment in installments or in a single payment.
Rs 70 lakh will be deposited
Suppose you open an account under Sukanya Samriddhi Yojana in the year 2024 when your daughter turns 1 year old. If you invest Rs 1,50,000 every financial year, you can get a total of Rs 69,27,578 at the time of maturity in the year 2045. The amount invested by you will be Rs 22,50,000 and the interest income will be Rs 46,77,578 rupees.
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