Sukanya Samriddhi Yojana: Every parent hopes for a safe and promising future for their daughter. Every stage of life, from education to marriage, requires financial stability. In this case, a strategy that guarantees your daughter can get thousands of rupees at the age of 21 with a small amount of funds is nothing short of a blessing. One such program is the government’s Sukanya Samriddhi Yojana, which is safe and promises significant returns.

What is Sukanya Samriddhi Yojana

As part of the ‘Beti Bachao, Beti Padhao’ campaign, the Indian Government’s great scheme introduced the Sukanya Samriddhi Yojana, a unique savings program. This allows you to start an account in your daughter’s name and make regular investments. The most crucial aspect is that only daughters under the age of ten are eligible for this program. Opening an account at a post office or an approved bank is simple.

Investment and interest rate

This strategy offers a very flexible investment facility. Additionally, you can maintain the account by making an annual payment of at least ₹250. At the same time, the annual maximum deposit amount is ₹1.5 lakh. The government currently offers this scheme an annual interest rate of 8.2%, which is significantly greater than that of fixed deposits and other savings plans. The entire investment in this scheme, if you deposit Rs 1.5 lakh annually for 15 years, will be ₹22,50,000. This sum will rise to ₹ 71,82,119, including interest, at the end of the time. In other words, you will receive ₹49,32,119 in interest as an extra bonus. The unique aspect is that there will be no taxes on the entire amount.

When and how will you get the full benefit

This plan is in effect for 21 years. However, there is only a 15-year requirement to deposit funds. You will receive interest for the entire year and your benefit will grow even more if you deposit your money by April 5th of each fiscal year. The daughter would receive Rs 71 lakh in full benefits at turning 21, which she can spend for her future education, employment, or marriage.

Tax relief will also be available

In addition to offering high interest rates and safety, the Sukanya Samriddhi Yojana also offers tax exemption. Section 80C of the Income Tax Act exempts investments made in this scheme from taxes. Additionally, there is no tax on the whole amount received at maturity or on the interest earned on it.

Golden opportunity to secure the future of daughters

This program is a blessing for all parents in this day and age, when living expenses and educational costs are always rising. You may make your daughter financially strong and ensure her future with a small amount of savings. This plan is a fantastic chance to help daughters realize their aspirations.

Disclaimer: This article is written for information purposes only. Before investing in the scheme, do confirm the terms and interest rates with the concerned bank or post office. It would be advisable to consult a financial advisor before taking a final decision on any type of investment.

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