How Sukanya Samriddhi Yojana Can Help You Accumulate Up to Rs 72 Lakh
Sukanya Samriddhi Yojana (SSY) is a secure government savings scheme for the educational and marital future of girl children. Let's learn more about this plan in detail.
Who can start the Sukanya Samriddhi Yojana scheme?
Sukanya Samriddhi Yojana is a government savings scheme for a girl's education and marriage. Parents of a girl under 10 can open this account and invest from Rs. 250 to Rs. 1.5 lakh annually for 15 years, encouraging long-term savings.
How to check the account balance?
There are easy ways to check your Sukanya account balance. You can log in to your bank's website or mobile app with your account number and IFSC details. Alternatively, visit a nearby bank branch or post office, and officials will provide the balance. The post office website or app also offers this facility.
Interest, Security, and Benefits
This scheme currently offers an 8.2% interest rate, higher than most bank fixed deposits. It's highly secure with a government guarantee. Partial withdrawal for higher education is allowed after the girl turns 18. A birth certificate, ID, and address proof are all you need to open an account.
How to get Rs. 72 lakh?
The Sukanya account matures when the girl turns 21. Investing Rs. 1.5 lakh annually for 15 years (total Rs. 22.5 lakh) can yield around Rs. 71.82 lakh after 21 years, with about Rs. 49 lakh as interest. The entire amount is tax-free, making it a great choice for middle-class families.
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