Sukanya Samriddhi Yojana: Save ₹12,500 Monthly & Get ₹69,27,578 Returns

Introduction

Investing in your child’s future is one of the most crucial financial decisions a parent can make. The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed exclusively for the girl child, offering high-interest rates, tax benefits, and financial security. If you invest ₹12,500 monthly (₹1,50,000 annually) in the Sukanya Samriddhi Yojana, you can accumulate a maturity amount of approximately ₹69,27,578 over 21 years, thanks to the power of compounding interest.

In this article, we will break down how the SSY scheme works, its benefits, interest rates, maturity calculations, and how to maximize returns.

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana is one of the best investment options for a girl child’s future, offering high returns, tax benefits, and financial security. By saving ₹12,500 per month, you can accumulate a maturity corpus of approximately ₹69,27,578, ensuring a secure financial future for your daughter.

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What is Sukanya Samriddhi Yojana?

The Sukanya Samriddhi Yojana (SSY) is a government savings scheme launched as part of the Beti Bachao Beti Padhao initiative. It allows parents or guardians to open an account in the name of a girl child and deposit money regularly, earning a high compound interest.

1. Who Can Open an SSY Account?
   • Parents or guardians of a girl child under 10 years old.
   • Maximum two accounts per family, except in the case of twins/triplets.
2. Where Can You Open an SSY Account?
   • Any post office or authorized bank.

Sukanya Samriddhi Yojana Investment Breakdown: How Much You Earn by Saving ₹12,500 Monthly

Contribution & Investment Period

1. You contribute ₹12,500 per month (₹1,50,000 annually) for 15 years.
2. After 15 years, you stop contributing, but the money continues to earn interest for another 6 years.

Interest Earnings

1. SSY Interest Rate (2024): 8.2% per annum (compounded annually).
2. Your total investment of ₹22,50,000 grows to ₹69,27,578 over 21 years.

Maturity Amount Calculation

Tax Benefits of Sukanya Samriddhi Yojana

SSY is a completely tax-free investment under the EEE (Exempt-Exempt-Exempt) model:

1. Investments up to ₹1.5 lakh per year qualify for a deduction under Section 80C.
2. Interest earned is tax-free.
3. Maturity amount is fully tax-exempt.

Withdrawal Rules & Maturity

1. Partial Withdrawal: Up to 50% of the balance can be withdrawn when the girl turns 18 years old (for education or marriage).
2. Full Maturity Withdrawal: The full amount is available after 21 years from account opening.

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How to Open a Sukanya Samriddhi Yojana Account?

Step-by-Step Guide to Opening an SSY Account

1. Visit a Bank/Post Office: Locate an authorized branch.
2. Fill the SSY Form: Provide details of the girl child and guardian.
3. Submit Required Documents:
   • Birth Certificate of the girl child.
   • ID Proof & Address Proof of the guardian (Aadhaar, PAN, etc.).
4. Deposit Money: A minimum deposit of ₹250 is required to start the account.
5. Collect Passbook: The passbook contains account details, transactions, and balance.

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Sukanya Samriddhi Yojana (FAQs)