Sukanya Samriddhi Yojana : Post Office’s Sukanya Samriddhi Yojana (SSY) is such a Small Savings Scheme in which you are guaranteed to get 3 times the total amount you invest on maturity. That is, you will get money by increasing the total deposit amount by 200 percent. That is, the interest you get in this will be double compared to the total investment. The special thing is that you have to invest in it for 15 years, while interest will keep getting added on the total closing balance for the next 6 years i.e. till maturity. A maximum of Rs 70 lakh can be raised through this scheme.
High Return: Amazing scheme, those who save Rs 100 daily and do SIP get Rs 1.50 crore, invests money in small companies
Currently 8.2% annual interest
The interest rate in Sukanya Samriddhi Yojana is currently 8.2 percent per annum. In this scheme, a maximum of Rs 1,50,000 can be deposited annually in a financial year. The minimum deposit is Rs 250. Under this scheme, parents have to invest in the name of their daughter for only 15 years. While the maturity period of the account is 21 years. During the remaining 6 years after 15 years, interest will be given at the rate of 8.2 percent per annum on the closing balance of 15 years. The entire amount will be received on maturity after 21 years.
Whatever you deposit in 15 years, you will get 3 times the fund
Year to start SSY account: 2024
Interest rate in SSY: 8.2 percent per annum
Annual investment: Rs 1,50,000
Investment in 15 years: Rs 22,50,000
Total amount on maturity of 21 years: Rs 69,27,578
Account maturity year: 2045
Interest benefit: Rs 46,77,578
Midcap Funds Return: 300 to 400% absolute return in 5 years, i.e. money doubles and triples, 5 midcap funds that give the highest income
Completely tax free scheme
Like PPF, Sukanya Samriddhi Yojana is also a completely tax free scheme. Sukanya is tax exempted at three different levels i.e. EEE. First, exemption on annual investment up to Rs 1.50 lakh under Section 80C of Income Tax Act. Second, there is no tax on the returns received from it. Third, the amount received on maturity is tax free.
EPFO: Is Rs 35000 basic salary sufficient for a retirement fund of Rs 2.5 crore? Check immediately with EPF calculator
Can I withdraw money before maturity?
When the daughter turns 18, 50% of the amount can be withdrawn before maturity for her marriage. Apart from this, money can be withdrawn before maturity in certain circumstances after 5 years of opening the account. Such as sudden death of the account holder, death of the guardian, serious illness of the account holder or inability to continue the account.
