Planning for daughter's marriage? This monthly investment plan can help you save Rs 55 lakh

Financial discipline is on the rise, with many focusing on savings. This article explores various investment avenues to ensure a substantial sum is available for a daughter's wedding.

Finances

Parents used to focus solely on their daughter's marriage finances. Now, they prioritize education and careers, but wedding expenses remain a key concern, leading them to explore various investment options.

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana is a secure, government-backed investment for a daughter's future. A monthly investment of Rs. 10,000 over 21 years can yield Rs. 55,42,062 with the current 8.2% interest rate.

Deposits range

The Sukanya Samriddhi Yojana is for girls under 10. One account per girl, two per family (except for twins). Deposits range from Rs. 250 to Rs. 1.5 lakh annually for 15 years, maturing in 21 years. Tax benefits under 80C apply.

Know more about the investment

Partial withdrawals are allowed for education at age 18. The account can be closed after 18, typically for marriage. Accounts can be opened at post offices or authorized banks.