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Invest Rs 12,500 per month in Sukanya Samriddhi Yojana to get Rs 72 lakh
- •The Sukanya Samriddhi Yojana is a government-backed savings scheme launched exclusively for girl children.
- •By investing Rs 1.5 lakh annually or Rs 12,500 monthly, you can build a massive fund of up to Rs 72 lakh when the girl turns 21.
- •The scheme currently offers an attractive interest rate of 8.2 percent with guaranteed returns unaffected by market fluctuations.
- •Investments made in this scheme qualify for tax exemptions under Section 80C of the Income Tax Act.
Key Questions Answered
By investing Rs 12,500 per month (Rs 1.5 lakh annually) in the Sukanya Samriddhi Yojana, your total investment reaches Rs 22.5 lakh. With an applicable interest rate of 8.2 percent, you will accumulate Rs 49.3 lakh in interest, creating a total maturity fund of Rs 72 lakh when your daughter turns 21.
You are required to make contributions for 15 years from the date of opening the account. After the 15-year investment period ends, the account stays active and continues to earn compound interest for the next 6 years, fully maturing when the girl child completes 21 years of age.
The amount invested in the Sukanya Samriddhi Yojana is eligible for tax exemption under Section 80C of the Income Tax Act, and the final maturity amount is also entirely tax-exempt. You can start investing with a minimum of Rs 250 per month, while the maximum annual limit is Rs 1.5 lakh.
