Sukanya samridhi yojana: Every parent wants their daughter to get good studies and safe future. But this dream seems difficult to many times between the increasing college fees, coaching expenses and marriage preparations. To remove this concern, the government has launched Sukanya Samriddhi Yojana (SSY). The scheme is especially made for daughters and investment in it is completely safe.
8% interest and tax-free profit
Currently, 8% annual interest is being received on this scheme, which increases by compound every year. The account lasts for 21 years, but the investor has to deposit money for only 15 years. The biggest relief is that the entire amount on maturity is tax-free.
How to get Rs 16 lakh from savings of Rs 35,000
Suppose you deposit Rs 35,000 in the account every year. Your total deposit amount will be Rs 5.25 lakh in 15 years. It will get an interest of about 10.91 lakh rupees. That is, when the account will complete 21 years, then a fund of about 16.16 lakh rupees will be prepared for your daughter. Your real investment in this is only 5.25 lakh rupees, the remaining amount will be made by interest.
Why is this plan special
It is completely safe because the government runs it.
It gets more interest from other schemes.
Both investment and maturity are tax-free.
A trusted fund of long periods is prepared for daughters. If you also save only Rs 35,000 every year, then after 21 years, a fund of more than 16 lakh rupees will be prepared for your daughter.