Achieving financial equality, stability and independence are very necessary for women. International Women’s Day is just around the corner, it is celebrated on March 8th. This day globally brings attention to women achievers who made major developments and who achieved significantly in their life. There are several schemes which are women-centric which can help women plan their future and offer long-term benefits to women.
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What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) was launched in 2015. It is a saving scheme which was launched under Beti Bachao, Beti Padhao campaign. With the help of this programme, parents can open a savings account at an authorised commercial bank or India Post branch for their girl child.
SSY accounts have an interest rate of 7.6%. You can use a Sukanya Samriddhi Yojana calculator to calculate your returns based on your investment and duration.
Sukanya Samriddhi Yojana- Eligibility
- The girl must be an Indian citizen.
- The girl shouldn’t be older than ten years.
- The Sukanya Samriddhi Yojana account can only be opened for two daughters per family.
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Sukanya Samriddhi Yojana- Calculator
After a person qualifies for the Sukanya Samriddhi Yojana, they should enter the girl child’s age and the required investment amount into the calculator. The minimum and maximum contributions to the programme are 250 and 1.5 lakh rupees, respectively.
For instance, you invested (approx) Rs 8,333 monthly for the whole year which is around 1,00,000 with an interest rate of 7.6% for 10 years. You will receive Rs 15,29,458 with interest.
