Know About Sukanya Samriddhi Yojana (SSY)

If you want to add more money for your daughter’s education and marriage, So Sukanya Samriddhi Yojana (SSY) is a good option.

By investing money in the SSY scheme, you will be assured of your daughter’s higher education and marriage.

For this, you have to invest in the Sukanya Samriddhi Yojana. For this scheme, the account of a daughter below 10 years of age can be opened under the Sukanya Samriddhi Yojana. SSY is the government’s small savings scheme for girls.

This scheme has been launched under the “Beti Bachao, Beti Padhao” scheme. Sukanya is the best interest-rate scheme among small savings schemes.

How to Open an Account in SSY

With a minimum deposit of Rs 250, an SSY account can be opened after the birth of a child under the age of ten.

Under SSY in the current financial year, a maximum of one lakh fifty thousand rupees can be deposited annually. Right now, it is getting 7.6 percent interest.

You can use this to open accounts for your two daughters.At the age of 21, daughters can withdraw money from this account. In this scheme, the amount will double in 9 years and 4 months.

Where will the Sukanya Samriddhi Yojana account be opened, and how long will this account continue?

Accounts under the Sukanya Samriddhi Yojana can be opened in any post office or authorised branch of a commercial bank.

And after opening the Sukanya Samriddhi Yojana account, it can be continued till the girl child turns 21 or gets married after the age of 18 years.

Will Get More Than 65 Lakh Rupees on Maturity.

If you invest Rs 3000 every month, i.e., Rs 100 daily, in this scheme, then on Rs 36000 you will get Rs 9,11,574 after 14 years at 7.6% annual compounding.

This amount will be around Rs 15,22,221 at 21 years of age, i.e., maturity. If you save Rs 416 daily, you can create a fund of Rs 65 lakh for your daughter.