Every parent worries about their daughter’s future. With rising inflation, concerns about education and marriage expenses are increasing.
If you have a young daughter and are worried about how to manage these costs in the future, this information is very important for you.
On the occasion of the New Year, let us tell you about a government scheme through which a small yearly investment can help you build a fund of up to ₹70 lakh for your daughter.
What Is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme specially designed for girls. Parents can open an account in their daughter’s name until she turns 10 years old.
Under this scheme, parents can invest an amount ranging from ₹250 to ₹1.50 lakh per year.
The investment must be made for 15 years, while the total maturity period of the scheme is 21 years. This long-term savings plan helps parents build a strong financial foundation for their daughter.
Interest Rate and Benefits of SSY
The Sukanya Samriddhi Yojana currently offers an attractive interest rate of 8.2% per annum, which is one of the highest among government savings schemes.
Due to this high interest rate and government support, the scheme is very popular among parents.
How You Can Build a ₹70 Lakh Fund
If you invest ₹1.50 lakh every year in the Sukanya Samriddhi Yojana for 15 years, your total investment will be ₹22.50 lakh.
After the full maturity period of 21 years, the total amount you will receive will be around ₹69.27 lakh, which is nearly ₹70 lakh.
Out of this amount, about ₹46.77 lakh will be earned as interest alone. This makes SSY an excellent option for securing your daughter’s education and marriage expenses.
