Sukanya Samriddhi Yojana Interest rate: Sukanya Samriddhi Yojana is one of the schemes that gives the highest returns in small savings schemes. The government fixes the interest rate of this scheme every three months.
Currently, Sukanya Samriddhi Yojana is offering an interest rate of 8.2 percent per annum. This is the annual compound interest rate. This scheme is only for daughters. By opening an account in this scheme, you can deposit a good amount of funds for your daughter’s higher education and marriage.
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Important points of Sukanya Samriddhi Yojana
- Parents can open an account under Sukanya Samriddhi Yojana (SSY) before their daughter turns 10 years old.
- Sukanya Samriddhi Account can be opened for only 2 daughters in a family. In case of twins or triplets, more than 2 accounts can be opened.
- Contributions can be made in this scheme for a maximum of 15 years after opening the account.
- If an investor opens an account in this scheme immediately after the birth of his daughter, he can deposit his contribution for 15 years. After this, there is a lock-in period of 6 years. During this period, one does not have to invest, but interest keeps coming.
- In this scheme, 50% of the maturity amount can be withdrawn when the daughter turns 18 years old. The remaining amount can be withdrawn when the daughter turns 21 years old.
- In this scheme, the benefit of income tax exemption is also available on investment of up to Rs 1.50 lakh made in a year.
- This scheme comes with EEE status. This means that the investment amount, interest income and maturity amount are all tax free.
Your daughter will get 70 lakh rupees
In Sukanya Samriddhi Yojana, you can deposit a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year. You can make this investment in installments or lump sum. Suppose you open an account in Sukanya Samriddhi Yojana in the year 2024 when your daughter turns 1 year old. If you invest Rs 1,50,000 every financial year, then you can get a total of Rs 69,27,578 at the time of maturity in the year 2045. In this, the amount invested by you will be Rs 22,50,000 and the interest income will be Rs 46,77,578.
