Investing in Your Daughter’s Future
The government believes that having a daughter is a blessing, not a burden. To support parents, they have introduced schemes like Sukanya Samriddhi Yojana, specifically designed for girls. This scheme ensures a secure future through investments made from an early age.
How Sukanya Samriddhi Yojana Works
- Start Early: The scheme must begin from the day of the girl child’s birth and before she turns ten.
- Monthly Investment: Parents can invest a minimum of Rs. 250 and a maximum of Rs. 1.5 lakh every month.
- Investment Duration: You need to invest continuously for 15 years, with an additional lock-in period of six years.
- Maturity: The account matures when the child turns 21, providing a substantial amount for higher education or marriage.
Earning 26 Lakhs: How it Works
- Investment Amount: If you invest Rs. 5,000 monthly, your total investment in 15 years would be Rs. 9 lakhs.
- Interest Calculation: With an 8% annual interest rate, your total interest earned would be Rs. 17,93,814, almost double your investment.
- Total Amount: On maturity, you’ll receive around Rs. 27 lakhs, which can be utilized for your daughter’s education or marriage.
Tax Benefits and Restrictions
- Tax Exemption: Sukanya Samriddhi Yojana offers tax exemption under Section 80C of the Income Tax Act, up to Rs. 1.5 lakh.
- Account Limit: You can open accounts for up to two daughters. Additional daughters won’t be eligible, but twin daughters can have separate accounts.
Planning for your daughter’s future has never been easier, thanks to Sukanya Samriddhi Yojana. Start investing today for a brighter tomorrow!