Financial planning for your child’s future is one of the most critical aspects of personal finance. If you’re looking for a secure, high-return investment plan for your daughter, the Sukanya Samriddhi Yojana (SSY) is an excellent option. With just a monthly deposit of ₹4,000, you can build a corpus of nearly ₹22 lakh by the time of maturity.
This article provides an in-depth guide to Sukanya Samriddhi Yojana, including key features, benefits, tax exemptions, and return calculations to help you make an informed decision.
Sukanya Samriddhi Yojana
| Feature | Details |
|---|---|
| Monthly Deposit | ₹4,000 |
| Annual Deposit | ₹48,000 |
| Total Investment Period | 15 years |
| Total Investment Amount | ₹7,20,000 |
| Interest Rate (as of 2024) | 8.2% per annum |
| Maturity Period | 21 years from the date of opening |
| Total Returns (Approx.) | ₹22 lakh |
| Tax Benefits | Exempt under Section 80C |
| Official Website | India Post – SSY |
Investing ₹4,000 per month in Sukanya Samriddhi Yojana is a safe, high-return, tax-efficient strategy to secure your daughter’s future. With an attractive interest rate of 8.2% and full tax exemption, SSY provides an excellent opportunity for long-term financial planning.
By the time of maturity, your ₹7.2 lakh investment could grow to nearly ₹22 lakh, providing a solid financial foundation for your child’s higher education and marriage expenses.
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What is Sukanya Samriddhi Yojana (SSY)?
Launched under the Beti Bachao, Beti Padhao scheme, the Sukanya Samriddhi Yojana is a government-backed savings scheme designed to secure the financial future of girl children in India. The scheme offers one of the highest interest rates among small savings plans and comes with tax benefits under Section 80C.
Who Can Open an SSY Account?
- Parents or legal guardians can open an SSY account for a girl child.
- The girl must be below 10 years old at the time of account opening.
- Only one account per girl child is allowed.
- A family can open a maximum of two accounts (except in the case of twins/triplets).
Sukanya Samriddhi Yojana: How to Invest ₹4,000 Monthly and Get ₹22 Lakh?
To understand how ₹4,000 monthly investments can grow to nearly ₹22 lakh, let’s break it down:
Investment Details
- Monthly Contribution: ₹4,000
- Annual Contribution: ₹48,000
- Investment Duration: 15 years
- Maturity Period: 21 years
- Total Deposits Over 15 Years: ₹7,20,000
How Does the Interest Work?
- The current SSY interest rate is 8.2% per annum, but it is revised quarterly by the government.
- Contributions are made for the first 15 years, but the account continues to accrue compound interest for another 6 years until maturity.
- The accumulated amount grows exponentially due to compound interest.
| Year | Total Investment | Interest Earned | Closing Balance |
| 5 | ₹2,40,000 | ₹60,000 | ₹3,00,000 |
| 10 | ₹4,80,000 | ₹2,10,000 | ₹6,90,000 |
| 15 | ₹7,20,000 | ₹5,50,000 | ₹12,70,000 |
| 21 (Maturity) | ₹7,20,000 | ₹13,16,850 | ₹20,36,850 |
At an interest rate of 8.2%, your ₹7.2 lakh investment can grow to nearly ₹22 lakh at the time of maturity.
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Tax Benefits of Sukanya Samriddhi Yojana
The SSY scheme is fully tax-exempt under the Exempt-Exempt-Exempt (EEE) category, meaning:
- Investment Amount (up to ₹1.5 lakh per year) is deductible under Section 80C.
- Interest Earned is tax-free.
- Maturity Amount is fully tax-free.
This makes SSY one of the most tax-efficient investment options for parents.
Sukanya Samriddhi Yojana: How to Open an SSY Account?
You can open an SSY account at any post office or authorized bank by following these steps:
Step-by-Step Process
- Visit the bank/post office where you want to open the account.
- Fill out the SSY application form.
- Submit KYC documents, including:
- Birth certificate of the girl child.
- Parent’s/Guardian’s ID proof (Aadhaar, PAN, Voter ID, etc.).
- Address proof (Aadhaar, Passport, Utility Bill, etc.).
- Deposit the minimum amount of ₹250 (you can deposit up to ₹1.5 lakh per year).
- The passbook will be issued upon account activation.
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Sukanya Samriddhi Yojana (FAQs)
What is the minimum and maximum deposit allowed in SSY?
The minimum deposit is ₹250 per year.
The maximum deposit allowed is ₹1.5 lakh per year.
Can I withdraw money from SSY before maturity?
Yes, but only partial withdrawals (up to 50%) are allowed after the girl turns 18 for her higher education.
What happens if I stop contributing?
The account becomes inactive, but it can be reactivated within 15 years by paying a penalty of ₹50 per year.
Can NRIs open an SSY account?
No, only Indian residents can open and maintain an SSY account.
Is SSY better than a Fixed Deposit (FD)?
Yes! SSY offers higher interest rates (8.2% vs. 6-7% for FDs) and tax benefits under Section 80C, whereas FD interest is taxable
