Another big news is waiting for girl child’s parents. Today we will discuss a scheme of the government where you can earn good money later if you apply. Today we are going to tell you about Sukanya Samriddhi Yojana. Sukanya Samriddhi Yojana (SSY) is a government initiative in India aimed at ensuring a secure financial future for daughters.
This scheme offers parents financial peace of mind while also providing essential funds for their daughters’ education and marriage. To participate in SSY, the daughter must be under 10 years old. Parents need to open an account using the child’s birth certificate to access the benefits of this program.
For instance, if a daughter is 5 years old in 2025, starting an investment at this age can create a solid financial base for her future, making it easier to meet upcoming financial needs. The SSY requires a 15-year investment period, from 2025 to 2040. Consistent contributions over these 15 years can maximize the account’s profitability, as the plan is tailored to cover the costs associated with education and marriage.
By saving just Rs 100 a day, you would invest Rs 36,500 annually. This consistent saving is not only secure but can accumulate into a substantial amount—totaling Rs 5,47,500 over 15 years—helping to fulfill your daughters’ future needs.
The SSY account will reach maturity in 21 years (specifically in 2046). Upon maturity, the account holder will obtain the full investment sum along with the accrued interest, enhancing the daughter’s financial future. The investment will yield an annual return of 8.2%. This increased interest rate will amplify your investment significantly. The cumulative interest will reach Rs. 11,38,211, which will yield an appealing return on your investment.
Mature Funds
The cumulative investment and interest (Rs 16,85,711) will be accessible at maturity. This sum will be beneficial for the daughter’s college education, wedding, and other significant costs. As a result, parents will no longer need to concern themselves with the funds necessary for their daughter’s schooling and wedding.
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