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Invest Rs 1.5 Lakh in Sukanya Samriddhi Yojana: How to Get Rs 71 Lakhs?
- •Sukanya Samriddhi Yojana is a central government small savings scheme designed to financially secure a girl child's future.
- •Investments need to be made for 15 years, while the scheme matures after 21 years from the account opening date.
- •Investing the maximum Rs 1.5 lakh annually at an assumed 8.2 percent interest can yield about Rs 71.8 lakh after 21 years.
- •Funds accumulated in the scheme can be utilized for the daughter's higher education and marriage as per prevailing rules.
- •Parents or legal guardians can open this account for girl children under the age of 10 at authorized banks or post offices.
Key Questions Answered
Under the Sukanya Samriddhi Yojana, investments need to be made for only 15 years from the date the account is opened. However, the scheme matures strictly when 21 years are completed from the opening date, during which interest continues to accumulate for the remaining period.
If you invest the maximum allowed amount of Rs 1.5 lakh every year for 15 years, your total investment will reach Rs 22.5 lakh. Assuming an annual interest rate of 8.2 percent, the total maturity amount after 21 years could be approximately Rs 71.8 lakh.
Parents or legal guardians can open a Sukanya Samriddhi Yojana account for a girl child who has not completed 10 years of age. The account can be established at designated post offices or authorized banks by submitting valid identity, age, and address proofs.
