When a girl is born, parents worry about her future, from her education to marriage. Investing for her now can save a significant amount for the future. Sukanya Samriddhi Yojana is the best option for this.

What is the Sukanya Samriddhi Yojana? The Sukanya Samriddhi Yojana is a small savings scheme for girls launched by the central government. This scheme was launched to provide financial resources for a girl's education and future needs. Parents can open an account at a post office or bank before the girl turns 10.

The minimum amount for this scheme is ₹250 and the maximum is ₹150,000. If you deposit ₹8,000 per month, you will invest ₹96,000 annually.

How much will you receive after 21 years? If you continue to receive 8.2% interest on this plan for 21 years, you could receive ₹4.44 lakh after 21 years. The amount of ₹4.4 million will depend on the interest rate. The amount could be higher or lower.

Who can open this account?

This account can be opened in a girl's name before she turns 10. An account can be opened in the name of one girl. Typically, this facility is available for two girls in a family. There are some exemptions to the rules for the birth of twins or triplets.

The Sukanya Samriddhi Account has a validity period of 21 years from the date of account opening. However, up to 50% of the account balance can be withdrawn for higher education after the girl turns 18 at the end of the previous financial year or after she passes the 10th grade, whichever is earlier.

PC: Money Control