Which is the scheme in which by doing this work you will get Rs 70 lakh in your account?

pc: Zee Business

The central government runs a number of schemes for its citizens, each designed to benefit different sections of the population. Many of these plans are designed to be highly effective for planning for the future. There are many schemes for women, the elderly and even young girls. Prime Minister Narendra Modi's government is currently implementing a scheme to ensure that parents do not need to worry about the future of their daughters. Through this initiative, parents can deposit up to Rs 70 lakh for their daughters. Let us know about this scheme in detail.

Sukanya Samriddhi Yojana:

In 2015, under the Beti Bachao Beti Padhao initiative, the Modi government launched Sukanya Samriddhi Yojana to secure the future of girls. Any parent can avail the benefit for their daughters below 10 years of age. By opening an account under this scheme, they can invest for the better future of their daughters, which aims to remove financial worries related to education and marriage.

Deposit up to Rs 70 Lakh:

Sukanya Samriddhi Yojana is a long-term savings scheme designed to secure the future of girls. The government offers interest rates of over 8%, making it an attractive investment. If parents open an account under this scheme for their daughters at the age of 5 and deposit around Rs 1.5 lakh annually, then around Rs 70 lakh will be accumulated by the time the girl turns 21. The investment period in this scheme is 15 years.

If you invest Rs 1.5 lakh annually for 15 years, the deposited amount will be Rs 22.50 lakh. Considering the interest rate of 8.2%, you will earn Rs 46,77,578 as interest during this period. Therefore, when your daughter turns 21, approximately Rs 69,27,578 i.e. approximately Rs 70 lakh will be deposited in her account.

Who can benefit from this scheme?

Any girl below 10 years of age can get the benefit of Sukanya Samriddhi Yojana. Only families with two daughters are eligible for this scheme. To avail of the benefits, interested persons can apply by visiting the nearest post office or bank branch.

Withdrawals for education or marriage :

Under this scheme, parents can withdraw up to 50% of the deposited amount for their daughters' higher education or marriage. However, the entire amount can be handed over to the girl only when she turns 21.

Sukanya Samriddhi Yojana serves as an excellent long-term savings plan with favourable interest rates and income tax benefits. Be it for higher education or wedding expenses, parents can withdraw funds as needed, providing financial security for their daughter's future.