Stories
Secure Daughter's Future: Build a 7.2 Million Fund with Sukanya Samriddhi Yojana
- •The Sukanya Samriddhi Yojana allows parents to build a substantial fund for their daughter's education, marriage, or other expenses.
- •By investing ’1.5 lakh annually (or ’12,500 monthly), a fund of ’7.2 million can be created by the time the daughter turns 21, based on an 8.2% interest rate.
- •Total investment would be ’22.5 lakh, with ’49.3 lakh earned as interest, even if investments are made for only 15 years.
- •The scheme offers guaranteed compound interest, revised monthly by the Ministry of Finance, and is not affected by market fluctuations.
- •Investments are eligible for tax exemption under Section 80C, and the maturity amount is also tax-free, with investments starting from ’250 per month up to ’1.5 lakh annually.
Key Questions Answered
By investing 1.5 lakh rupees annually (or 12,500 rupees per month) for 15 years starting from your daughter's birth, you can accumulate a total investment of 22.5 lakh rupees while earning 49.3 lakh rupees in interest. With the current interest rate of 8.2 percent, a total corpus of 7.2 million rupees will be ready by the time she turns 21.
Investments made in the Sukanya Samriddhi Yojana are eligible for tax exemption under Section 80C of the Income Tax Act. Additionally, the final corpus amount received at maturity is completely tax-free.
The interest rates for the scheme are guaranteed by the government and are completely unaffected by stock market fluctuations. The Ministry of Finance revises these interest rates on a quarterly or regular basis, and currently, the scheme offers an interest rate of 8.2 percent.
