Sukanya Samriddhi Yojana: Best plan for Children, Invest Rs 12000 and get Rs 70 lakh

The government of India has introduced various savings schemes. One of these is Sukanya Samriddhi Yojana. This is best plan for Children, Invest Rs 12000 and get Rs 70 lakh. At a time when market-linked investment schemes are offering returns of 20 percent per annum, many may wonder why invest in a long-term fixed income investment scheme like Sukanya Samriddhi Yojana.

Here is definitely a very important reason for this. While investing for our future or children’s future, many of us want that investment to be as safe as possible. They are not ready to face the worry of where the return on their investment will be curtailed during market ups and downs. Sukanya Samriddhi Yojana helps investors know their returns regularly. Also, allows for changes in investments.

The Post Office-run Sukanya Samriddhi Yojana aims to raise funds for girls’ education and marriage. Many people choose it as a solid income option. Sukanya Samriddhi is a government scheme through which you can get fixed income and capital protection. Income from this scheme is 100% tax free. This scheme offers better returns than PPF. It is an investment aimed at long-term needs like marriage.

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Sukanya Samriddhi Yojana Details:

– The Sukanya Samriddhi scheme launched in January 2015 aims to secure the future of the girl child through investments made by her parents.

– Girls under 10 years are allowed to invest up to 21 years and maximum 15 years.

– Maturity amount received by the investor after 15 years can be used for education or marriage of girls.
Sukanya Samruti Yojana: Minimum and Maximum Investments :

– Investment can be from Rs 250 to a maximum of Rs 1.50 lakh in a financial year.

– Investment can be made in one month or year or in multiple installments.

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Sukanya Samruti Yojana Interest Rate:

– Since this is a government-run scheme, the current fixed interest rate is 8.0 percent.

– This rate may be increased or decreased as per government policies. However, the investment under the scheme earns compound interest annually.

Sukanya Samruti Yojana Tax Exemption:

– Investments made in this scheme are exempt under Section 80C of the Income Tax Act.

– Similarly, interest on investment is tax exempt under the Income Tax Act.

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Sukanya Samriddhi Yojana ways to withdraw amount :

– A girl child can withdraw from the scheme only after attaining the age of 18 years or after passing 10th standard.

– 50 percent of the outstanding balance at the end of the previous financial year can be withdrawn.
Sukanya Samriddhi Yojana How to create a fund of Rs 70 lakh:

– As one can invest a maximum of 1.50 lakhs per annum in Sukanya Samriddhi Yojana, the maximum investment is 22.50 lakhs in fixed years.

– 1.50 lakh annual investment means your monthly investment will be approximately Rs. 12,500.

– That investment for 15 years will give you an interest income of 47.3 lakhs and a maturity amount of 69.80 lakhs.

– A total investment of Rs 22.50 Lakhs in Sukanya Samriddhi Yojana will help generate an income of around Rs 70 Lakhs in 15 years.