If you have a girl child, this news is very important for you. Parents want a secure investment option for their daughter's future expenses, from her education to her marriage. The Central Government's Sukanya Samriddhi Yojana is one such secure savings scheme. Currently, this scheme offers an annual interest rate of 8.2%. The special feature of this scheme is that it offers the benefit of compound interest.

A maximum of 1.5 lakh rupees can be deposited every year.
A minimum of 250,000 rupees and a maximum of 1.50 lakh rupees can be deposited in a Sukanya Samriddhi Yojana account in a financial year. This account can be opened from the girl's birth until she turns 10. After opening the account, deposits must be made for 15 years. However, the account matures after 21 years.

If parents deposit ₹1.50 lakh annually in the girl's name, the total investment over 15 years is ₹22.50 lakh. After that, no new deposits are required for the next six years. The deposited amount continues to earn interest as per the rules.

How much fund will be available after 21 years?

If the interest rate remains at 8.2%, a corpus of ₹71.82 lakh can be created after a period of 21 years. However, the government can change the interest rate every quarter. This could change the actual maturity amount.

The Sukanya Samriddhi Yojana also falls under the EEE (Exempt-Exempt-Exempt) category for tax benefits
In the old tax system, eligible investments are tax-exempt under Section 80C. The interest earned under the scheme and the maturity proceeds received as per the rules are also tax-free. Under this scheme, girls can withdraw up to 50% of the account balance for higher education after the age of 18, as per the rules. In the event of marriage, the account can be closed as per the rules. Actual returns may vary depending on future government interest rates.

PC: Money Control