Every parent yearns for a prosperous future for their daughter, and an investment in which the government stands good becomes instrumental for securing her education and marriage payments.
The Sukanya Samriddhi Yojana is thus an apt answer. If you can invest just ₹20,000 in a year, you can eventually create a risk-free, completely tax-free corpus of ₹9,23,677.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a special scheme for savings initiated by the Government of India for the girl child. The account can be opened by parents or legal guardians in the name of the girl; it can be done before she attains the age of 10. The scheme is for an investment of 15 years, whereas the entire maturity period is for 21 years.
Currently, the Sukanya Samriddhi scheme is offering a very good interest rate of 8.2% per annum, which may change at the end of every quarter, as per government policy. Much higher than most fixed deposits and savings schemes, this one certainly puts the icing on the cake for long-term investments.
Key Benefits of Sukanya Samriddhi Yojana
- Exclusively for Daughters – Only female children below the age of ten years shall be eligible.
- Flexible Mode of Investment – Minimum deposit: ₹250 and maximum deposit: ₹1.5 lakh in one year.
- Long-Term Growth – Maturity after 21 years, or for marriage after turning 18.
- Exempted from Tax – Taxation under Section 80C (Interest earned and maturity amount).
- Government-Approved Guarantee – Zero risk because it is fully backed by the Indian government.
Who Can Open an SSY Account?
- Indian parents or guardians with a daughter below 10 years of age.
- A maximum of two accounts per family (three in case of twins or triplets).
How Much Will You Earn with ₹20,000 Annual Investment?
| Annual Deposit | Investment Tenure | Total Deposits | Estimated Returns | Maturity Amount |
|---|---|---|---|---|
| ₹20,000 | 15 years | ₹3,00,000 | ₹6,23,677 | ₹9,23,677 |
Note: Calculations are based on the current 8.2% interest rate and may vary slightly with future revisions.
Real-Life Success Stories
Vimala Devi, a homemaker from a rural area, shares her experience:
“When my daughter was 2, I started investing ₹20,000 yearly in SSY. Today, I feel at peace knowing her education and marriage expenses are secured.”
Rahul Verma, a Delhi-based clerk, adds:
“Watching my investment grow safely under a government scheme gives me immense satisfaction. It’s the best gift for my daughter’s future.”