The Central Government's Sukanya Samriddhi Yojana (SSY) is one of the most popular and trusted small savings schemes for ensuring a daughter's financially secure and strong future. If you also want to be free from the worry of your daughter's education and wedding expenses, this scheme can prove to be extremely beneficial for you. By investing regularly in this scheme, you can easily build a substantial corpus at the time of maturity.

Let us know how much money you can get by investing Rs 1 lakh annually under this scheme and what is its complete mathematics.

What is the Sukanya Samriddhi Yojana?  
The Sukanya Samriddhi Yojana is a government savings scheme launched under the "Beti Bachao, Beti Padhao" campaign, opened in the name of a girl child by her parents or legal guardians. This account can be opened at any post office or authorized commercial bank before the girl child turns 10 years old. Currently, the government offers attractive interest rates on this scheme, along with full tax benefits.

How will a corpus of Rs 48 lakh be created?
Let's understand how a parent invests Rs 1,00,000 (Rs 1 lakh) every year in this plan, and how a corpus of approximately Rs 48 lakh is created at maturity:

Investment Period:
According to the Sukanya Samriddhi Yojana rules, investments must be made continuously for 15 years from the date of account opening. This means that if you deposit ₹1 lakh every year, your total principal amount will reach ₹15,00,000 in 15 years.

Maturity Period:
This account matures at the end of 21 years (or at the time of the daughter's marriage after she turns 18). After investing for 15 years, it continues to earn compound interest for the next 6 years without any fresh investment.

Interest and total corpus:
Calculated at the current interest rate offered by the scheme (typically 8.2% compounded annually), a deposit of ₹15 lakh over 15 years would yield over ₹33 lakh in interest alone. Thus, the total corpus at maturity after 21 years would grow to approximately ₹48 lakh (or more, depending on changes in interest rates).

Key benefits and features of the scheme:
Triple tax exemption (EEE Benefit): This scheme falls under the 'EEE' (Exempt-Exempt-Exempt) category. This means that the amount invested (under Section 80C), the interest earned, and the maturity amount are all exempt from tax.

Better interest rate: Currently, the government is offering better interest rates on this scheme compared to many other small savings schemes, which helps in building a large corpus in the long term.

Partial Withdrawal: Up to 50% of the total amount can be withdrawn for the higher education of the daughter after she attains the age of 18 years or after passing class 10th.

PC: INDIA TV HINDI