The Indian government’s Sukanya Samriddhi Yojana (SSY) is a popular scheme designed to secure the future of girl children. While the interest rate has recently decreased to 8.2%, the long-term benefits of SSY make it a valuable investment option.
Here’s how investing ₹4,000 per month in SSY can grow to a substantial ₹25 lakhs for your daughter:
Sukanya Samriddhi Yojana Calculation
| Parameter | Value |
|---|---|
| Investment per month | ₹4,000 |
| Investment period (years) | 20 |
| Total investment | ₹960,000 |
| Annual interest rate | 8.2% |
| Interest earned | ₹1,574,400 (approximately) |
| Total amount (investment + interest) | ₹2,534,400 |
Key Points
- Open an SSY account before your daughter turns 10.
- The account matures after 21 years, but partial withdrawals for education or marriage are allowed after 18 years.
- This calculation assumes the current 8.2% interest rate remains stable, but it can fluctuate.
Benefits of SSY
- High interest rate compared to other savings schemes.
- Tax benefits on investment and interest income.
- Secure investment for your daughter’s future needs.
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