The government runs many such investment schemes for daughters, in which by investing, the worry of expenses from their education to marriage can be removed. We are going to tell you about one such investment scheme.

what is the plan

The name of this scheme run by the government is ‘Sukanya Samriddhi Yojana’ . In which you can invest for your daughter . In this scheme, you can open an account immediately after the birth of your daughter. An account is not opened in this scheme after the daughter turns 10 years old.

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How many years is the maturity period

You can invest in Sukanya Samriddhi Yojana for 15 years and its maturity period is 21 years. For example, if you open an account for your 1 year old daughter, then you have to invest only for 15 years. After that there is a lock in period of 6 years. After the daughter turns 18, she gets 50 percent of the amount and the remaining amount can be withdrawn at the age of 21.

How to get 64 lakh rupees

If you deposit Rs 12,500 every month in Sukanya Samriddhi Yojana, then this amount becomes Rs 1.5 lakh in a year. In 15 years, Rs 22,50,000 will be deposited in your fund. The government is giving 7.6 percent interest in this scheme. Your interest amount for 21 years will be Rs 41,29,634. That means, in 21 years, Rs 63,79,634 will be deposited in your fund including interest. In this way, you will get around Rs 64 lakh.

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The name of this scheme launched after the increase in repo rate by RBI is ‘IND SUPER 400 DAYS’. The maturity period in this special FD scheme will be 400 days.

According to the website of Indian Bank, the special retail term deposit product ‘IND Super 400 Days’ has been launched from 6 March. The maturity period in this special FD scheme will be 400 days. An amount ranging from Rs 10,000 to less than Rs 2 crore can be invested in this. The scheme is available to women investors and is open to others as well. Under this scheme, the bank offers 0.05 per cent higher interest rate to women investors. This scheme is valid till April 30, 2023.

Recently Indian Bank has increased FD rates

Recently Indian Bank has increased the interest rates on FDs of less than Rs 2 crore. After this increase, the bank is giving up to 6.70 percent interest to its customers. Increased new interest rates of the bank on 4 March. Applicable from 2023.

Many banks have increased FD rates.

It is noteworthy that on February 8, RBI had increased the repo rate by 0.25 percent. After the increase in the repo rate, many government and private banks of the country have increased their FD rates. Many banks like SBI, ICICI Bank, HDFC Bank, Yes Bank have increased interest on FDs in recent times.

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Fixed Deposit Interest Rate (FD Interest Rate)

South Indian Bank is offering FD of maturity period from 7 days to 10 years. The bank is now offering interest ranging from 2.65% to 6.00% for general public and 3.15% to 6.50% for senior citizens.

South Indian Bank is giving 2.65% interest to the common citizen on FDs of 7 days to 30 days, while 3.25% interest is being given on Fixed Deposits of 31 days to 90 days. The bank will pay 4.25% interest on FDs of 91 days to 99 days, 5.50% on FDs of 100 days, 4.25% on FDs of 101 days to 180 days, 4.60% on FDs of 181 days and less than 350 days.

The bank is offering 350 days fixed deposit at 7% interest to the common citizens. FDs of 351 days and less than 1 year 4.60%, Fixed deposits of less than 1 year and 30 months 6.40%, Bank is giving 7% interest on FDs maturing in 30 months.

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