SSY Account Rules: Invest in an SSY account like this, daughter will be the owner of lakhs by the age of 21, see!
Any Indian can start investing in Sukanya Samriddhi Yojana for his daughter below 10 years of age. At present this scheme is giving 7.6 per cent interest. There is an exemption to invest a minimum of Rs 250 and a maximum of Rs 1.50 lakh annually. Contribution can be made to the Sukanya Samriddhi Account for the daughter for 15 years. Meaning this scheme matures in 21 years.
SSY Account Rules
Through this Sukanya Samriddhi Yojana, the expenses of daughters' education and marriage can be borne. Because investment can be made in the account till the age of 18 years! Money can be withdrawn from the account when the daughter turns 21! For the first quarter of the year 2024, the government has increased the interest by 40 bps points. Once parents start investing in this scheme, they will have to invest in Sukanya Samriddhi Account for the next 15 years. If someone invests Rs 10,000 every month in the name of his daughter, then the daughter will become a millionaire when she turns 21.
Sukanya Samriddhi Account
If calculated on the basis of Rs 3000 per month in Sukanya Samriddhi Account, then Rs 36,000 will be deposited annually. The total investment will be Rs 5,40,000. Earning from interest will be Rs 9,87,637. You will get a total of Rs 15,27,637 on maturity! By investing Rs 4000 in the account of Sukanya Samriddhi Yojana, Rs 48,000 will be deposited annually. There will be a total investment of Rs 7,20,000 in 15 years! Earning from interest will be Rs 13,16,850. On maturity, a total fund of Rs 20,36,850 will be ready for the daughter.
Open an SSY Account like this
By visiting the website of the bank or post office! Download the form of Sukanya Samriddhi Yojana! Take a printout of it, fill it in and attach the necessary information, photo and other documents like the child's birth certificate, photo, identity card of parents etc. After this, go to the nearest bank branch or post office branch with the filled form and documents. Also carry original copies of all documents. After this, the employees of the bank or post office where you are opening the account will check the form and match the attached documents with the original. After this, a Sukanya Samriddhi Account will be opened in the name of your daughter.
What is Sukanya Samriddhi Yojana?
Under this scheme, a Sukanya Samriddhi Account can be opened in the name of a daughter below 10 years of age. You can start investing with a nominal amount of Rs 250! The maximum deposit amount that can be deposited in a financial year is Rs 1.5 lakh. Under Section 80C of the Income Tax Act on the amount deposited under this scheme! Tax exemption is also available! Under this law, a total exemption of up to Rs 1.5 lakh is given per year. The government is currently giving 7.6 per cent interest on investment in Sukanya Samriddhi Yojana.