Utility: Invest Rs 8,333 a month in Sukanya Samriddhi Yojana, get Rs 15,29,458!

It is very important for women to get financial equality, stability, and independence. International Women's Day is just around the corner, it is celebrated on 8th March. The day draws attention globally to women who have achieved great achievements and who have made significant achievements in their lives. There are many schemes that are women-centric that can help women plan for their future and provide long-term benefits to women.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) was launched in 2015. This is a savings scheme that was launched under the Beti Bachao Beti Padhao campaign. With the help of this program, parents can open a savings account for their girl child in an authorized commercial bank or India Post branch.

The interest rate for SSY accounts is 7.6%. You can use the Sukanya Samriddhi Yojana calculator to calculate your returns based on your investment and tenure.

Sukanya Samriddhi Yojana- Eligibility

The girl should be an Indian citizen.

The age of the girl child should not be more than ten years.

Sukanya Samriddhi Yojana account can be opened only for two daughters per family.

Sukanya Samriddhi Yojana- Calculator

After a person qualifies for Sukanya Samriddhi Yojana, they should enter the age of the girl child and the required investment amount in the calculator. The minimum and maximum contribution to the program is Rs 250 and Rs 1.5 lakh respectively.

For example, you invest Rs 8,333 monthly for a full year (approx) which amounts to Rs 1,00,000 approx with an interest rate of 7.6% for 10 years. You will get Rs 15,29,458 along with interest.