New Delhi: Sukanya Samriddhi Yojana (SSY) scheme offers attractive monetary features designed to secure the future of girl children in India. The scheme allows parents and guardians to open an account in the name of a girl child below the age of 10 years, with only one account permitted per child across India. A maximum of Rs 1.50 lakh every financial year can be made in an SSY account. Tax benefits are also offered under Section 80C of Income Tax Act on investment made to this account. Currently an interest rate of 8.2% per annum is being provided on this account. Let’s see how much interest you will earn on a Rs 10,000 per month deposit for 15 years.
Sukanya Samriddhi calculator
As per the Sukanya Samriddhi Yojana calculator, depositing Rs 10,000 every month for 12 years, one will invest a total of Rs 18,00,000 over 15 years. At an interest rate of 8.2 per cent, the maturity amount reaches Rs 55,46,118. This includes Rs 37,46,118 as interest earned over the investment period.
Sukanya Samriddhi investment
You can deposit a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year in a Sukanya Samriddhi account. Subsequent deposits must be in multiples of Rs 50. You can make deposits as lump sums, and there is no limit on the number of deposits you can make in a month or in a financial year but the limit should not exceed Rs 50.
Sukanya Samriddhi withdrawal
Post Office SSY is managed by the parent/guardian until the girl child reaches 18 years of age. Withdrawals are permissible either after the girl child turns 18. Withdrawals can be made in lump sums or installments, not exceeding one per year for up to five years, depending on educational or marriage expenses.
Premature closure of Sukanya Samriddhi account
Premature closure of the account is possible under certain conditions after five years, such as in case of the account holder’s death or extreme compassionate grounds, subject to necessary documentation. Closure on maturity occurs after 21 years from the account opening date or at the time of the girl child’s marriage after reaching 18 years.
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Sukanya Samriddhi Yojana calculator: If one invests Rs 10,000 for years in a SSY account , the maturity amount will be Rs 55,46,118. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
