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New Delhi: Who doesn’t think about the welfare of their children. Everyone wants their children to go to good colleges, get higher education and have a good marriage. But all is not easy in this era of inflation. Higher education is becoming costlier day by day. Providing good education to children is a difficult task for a normal family. But it can be easier if parents start investing some part of their savings at the right time. There is a popular scheme of the government for daughters. Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana). By investing small savings in this scheme, you can arrange money for your daughter’s education and marriage.
8% more interest
The interest rate for the new Sukanya Samriddhi Yojana April to June 2023 is 8 percent. The interest rate in Sukanya Samriddhi is fixed every three months.
At what age to open account
In Sukanya Samriddhi Yojana, parents can open an account till the completion of 10 years of the daughter. If parents open SSY account immediately after the birth of their daughter, they can deposit their contribution for 15 years. 50% of the maturity amount can be withdrawn at the age of 18 years of the daughter. The remaining amount can be withdrawn when the girl child turns 21.
Will get 64 lakhs at the age of marriage
If you deposit Rs 12500 every month in Sukanya Samriddhi account, then this amount will become Rs 1.5 lakh in a year. There will be no tax on this money. If we go for 7.6% interest rate on maturity, then that investor can create a huge corpus for his daughter till maturity. If the parents withdraw the entire amount when the daughter turns 21, then the maturity amount will be Rs 63 lakh 79 thousand 634. In this amount, the amount invested by the parents is Rs. 22,50,000. Apart from this, the interest income will be Rs 41,29,634. In this way, by depositing Rs 12,500 every month in Sukanya Samriddhi account, the daughter will get around Rs 64 lakh at the age of 21.
tax will also be saved
Income tax exemption is available on investment of Rs 1.50 lakh in a year in Sukanya Samriddhi Yojana. A maximum of Rs 1.5 lakh can be deposited in SSY in a year. This scheme comes with EEE status. That is, tax exemption is available at 3 places here. The amount invested in Sukanya Samriddhi Yojana, interest income and maturity amount are all tax free.
