Sukanya Samriddhi Yojana is a central government-run scheme with the aim of securing the future of daughters. Investment in this scheme has to be made for a long time. Know here how much return you can get by depositing Rs 5000 per month.
Sukanya Samriddhi Yojana is a scheme run by the government for the girl child. If you are the father of a daughter and your daughter is up to 10 years of age, you can invest in this scheme to secure her future. A minimum of Rs 250 and a maximum of Rs 1.5 lakh per year can be deposited in this scheme. In Sukanya Samriddhi Yojana, you have to invest continuously for 15 years and the scheme matures at 21 years.
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If you invest even Rs 5,000 every month in this scheme, you can collect a good amount for your daughter till maturity and can easily fulfill all the responsibilities related to it.
At present, interest on Sukanya Samriddhi Yojana is 8 per cent per annum.
Sukanya Samriddhi Yojana: Return on monthly investment of Rs 5,000
If you invest Rs 5,000 every month in Sukanya Samriddhi Yojana, then your annual investment will be Rs 60,000. In this way, you will invest a total of Rs 9,00,000 in 15 years.
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You will not have to make any investment between 15 to 21 years, but interest will continue to be added on your amount at the rate of 8 per cent.
If you calculate it according to the SSY calculator, you will get Rs 17,93,814 as interest on your total investment of Rs 9 lakh, which will be almost double your total investment.
In such a situation, you will get a total of Rs 26,93,814 on maturity i.e. approximately Rs 27 lakh.
If you start this investment in the year 2023, you will get the maturity amount in 2044.
You can spend this amount as per your daughter’s needs in her studies or marriage, etc.
Sukanya Samriddhi Yojana: Tax benefits
Interest in Sukanya Samriddhi Yojana is reviewed on a quarterly basis.
In this, tax exemption is also available under Section 80C of the Income Tax Act.
You can claim tax exemption on maximum Rs 1.50 lakh. Under this scheme, you can open accounts only for two daughters.
If you have more than two daughters, you will not get the benefit of this scheme for the third or fourth daughter.
However, if your second girl, twins or triplets are born, then Sukanya Samriddhi Account can be opened for her.
