- SSY scheme builds a significant corpus from small daily savings.8.2% interest,
- Tax benefits secure daughter's financial future
- Daily Rs 50 savings can yield over Rs 8 lakh.
Saving a small amount daily for your daughter, from the moment she is born, can transform into significant financial support by the time she reaches adulthood. Whether you aim to fund her master’s degree, professional courses, her first business venture, or her marriage, the move could be a key at that moment. By setting aside just a modest sum–Rs 50 or Rs 100– each day, you can accumulate a substantial corpus over time with the help of the power of compounding.
The Post Office's Sukanya Samriddhi Yojana (SSY) is an excellent, risk-free government-backed scheme designed specifically for daughters. The current interest rate on deposits in the scheme is 8.2 per cent per annum, which ensures that your small, consistent efforts today blossom into a secure financial future for your daughter.
Calculation with Rs 50 Daily Savings
Daily Savings: Rs 50
Monthly Deposit: Rs 1,500
Yearly Deposit: Rs 18,000
Deposit Period: 15 years
Total Invested Amount: Rs 2,70,000
Current Interest Rate: 8.2 per cent per annum
Maturity Period: 21 years
Estimated Interest: over Rs 5,50,000 (at current interest rate)
Total Maturity Amount: Over Rs 8,20,000
Calculation with Rs 100 Daily Savings
Daily Savings: Rs 100
Monthly Deposit: Rs 3,000
Yearly Deposit: Rs 36,000
Deposit Period: 15 years
Total Invested Amount: Rs 5,40,000
Current Interest Rate: 8.2 per cent per annum
Maturity Period: 21 years
Estimated Interest: Over Rs 11,00,000
Total Maturity Amount: Over Rs 16,40,000
Features Of Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana comes with several key features that make it a compelling choice for parents. The first thing is that an account can only be opened in the name of a daughter who is under 10 years of age. Investors can deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh in a single financial year,
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The mandatory investment tenure of the scheme is 15 years, and the investment matures upon the daughter turning 21.
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Withdrawal Policy And Tax Benefits
For flexibility, the scheme allows for a partial withdrawal of up to 50 per cent of the account balance after the daughter turns 18, specifically to support her higher education expenses.
Furthermore, the scheme offers significant tax advantages, providing an EEE (Exempt-Exempt-Exempt) benefit, which means tax exemptions are available on the initial investment, the accrued interest, and the final maturity amount.