To open an SSY account, it is necessary to deposit at least Rs 250. At the same time, up to Rs 1.5 lakh can be deposited in a year. Investment has to be made in the account for 15 years. SSY account matures in 21 years. However, when the daughter turns 18, money can be withdrawn for education or marriage.

You will get Rs 22 lakh by investing ₹50,000!

Suppose your daughter is 5 years old and you start investing from 2024. In such a situation, understand from this calculation how SSY is a profitable deal for you. If you invest ₹ 50 thousand annually, then you will have to invest the money in SSY till the year 2039. During this period you will invest a total of Rs 7,50,000. On this you will get only interest of ₹ 14,94,845.

When your daughter turns 18 (in the year 2042), you can withdraw some amount from the SSY account for education or marriage. At the same time, in the year 2045, the account will become completely mature and you will be given the investment amount and interest amount together which is ₹ 7,50,000 + ₹ 14,94,845 i.e. ₹ 22,44,845.

A big benefit of Sukanya Samriddhi Yojana is that investors can save tax under Section 80C of the Income Tax Act, 1961. To avail the benefits of Sukanya Samriddhi Yojana, parents must open an SSY account before their daughter turns 10 years old.

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Now those investing in these schemes must have PAN and Aadhaar (AADHAAR) card. This change has come into effect from April 1, 2023. If you have also invested in these government savings schemes and do not have PAN or Aadhaar card, then you should get it done as soon as possible.

Changed to make it transparent

If you do not do this, you will not be allowed to invest in these schemes. This change has been made by the government with the aim of making investment in these schemes more transparent and easy. This change has also been made to protect the rights of investors in these schemes. Recently, the Finance Ministry issued a notice saying that Aadhaar and PAN will be mandatory for investing in small savings schemes issued by the government. Earlier, one could invest in these schemes even without an Aadhaar number.

It is necessary to show PAN card to invest

been said in the notice that investors will have to submit Aadhaar number before making any kind of investment. Also, to invest beyond a limit, PAN card has to be shown. This change has been done to make investment in government-run schemes more transparent and easy. If you do not have Aadhaar card then you have to submit Aadhaar number within six months after opening the account. If you are investing more than a certain limit, then you will also have to submit PAN card. You will need these documents to open a Small Savings Scheme account-

– Passport size photo
– Aadhaar number or Aadhaar enrollment slip
– PAN number, if existing investors do not submit PAN card and Aadhaar card by 30 September 2023, then their account will be banned from 1 October 2023.

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‘Sukanya Samriddhi Yojana (SSY) is also included in the schemes whose interest rate has been increased by the government this time. The interest rate of this famous scheme has been increased from 7.60 percent to 8 percent.

Let us inform that the Narendra Modi government had started the Sukanya Samriddhi Yojana in its first term. Under this scheme, you can open a Sukanya Samriddhi account for a girl child up to 10 years of age. A huge amount can be raised in this account for the future of the daughter. Today we will tell you how through this account we will be able to arrange more than Rs 40 lakh for the daughter.

Let’s say your monthly investment is Rs 12,500. In this way your investment every year will be Rs 1,50,000 lakh. The maturity of Sukanya Samriddhi account is 15 years. If you invest Rs 1,50,000 lakhs per year for 15 years, then your total investment will be Rs 22.50 lakhs. A total interest of Rs 19.98 lakh is generated on this investment at the rate of 8 percent. Thus, the total amount on maturity will be Rs 42.48 lakh. This means that after 15 years, you will get Rs 42.48 lakh, so that you can work for your daughter’s marriage or education etc.

Know some advantages

Under Sukanya, 50% of the maturity amount can be withdrawn under certain circumstances. At the same time, there is a facility to withdraw money even after the age of the girl child is 21 years. At the same time, ₹ 1.50 lakh tax exemption can also be availed under Income Tax Act 80C. Let us tell you that Sukanya’s interest rate changes on a quarterly basis.

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The government has increased the interest on Sukanya Samriddhi Yojana, a special scheme for girls, from 7.60 per cent to 8 per cent. This is more than many schemes and such returns can be obtained from any debt mutual fund only. Increasing the interest rate of the government will greatly benefit the investors of this scheme.