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Dhanteras 2021 Diwali Make Your Daughter Lakhpati With This Government Scheme You Can Start By Saving One Rupees Daily


New Delhi: As Diwali festivities are all around everyone is ready to worship Goddess Lakshmi also called the Goddess of wealth & prosperity as per Hindu beliefs. While many tend to spend around the festival of lights, it is also the time to manage and budget our year all spendings and look at saving options.

Parents interested in investing can now save for their daughters. Sukanya Samriddhi Yojana (SSY) is a Central government scheme where you can save a hefty sum by investing a low amount. Investment in this scheme not only protects your daughter’s future but also helps you save income tax. You can get the benefit of this scheme by investing as low as Rs 1 per day.

Sukanya Samriddhi Yojana 

Sukanya Samriddhi Yojana (SSY) is a small savings scheme of the Central Government for daughters which was launched under the ‘Beti Bachao Beti Padhao’ campaign. SSY offers a return higher than most of the small saving schemes in the market.

Invest With Less Than Rs 1 Per Day

The Sukanya Samriddhi Yojana account can be opened for just Rs 250. That means, even if you save less than Rs 1 per day, you can still open an SSY account and get the benefit of the scheme. In a single financial year, only Rs 250 should be deposited into this account. You cannot deposit more than Rs 1.5 lakh in the SSY account in a single financial year.

Interest Rate

At present, the deposit in the Sukanya Samriddhi Yojana account will be entitled to an interest rate of 7.6 percent per annum, which is eligible for tax exemption. The account used to receive interest of up to 9.2 percent earlier. Up to 50 percent of the amount can be withdrawn for the expenses of the daughter’s education after the age of 18 years.

Savings In Lakhs

Suppose you invest Rs 3000 per month in this scheme i.e. Rs 36,000 per annum, you will get Rs 9,11,574 at 7.6 percent annual compounding after 14 years. The amount will be around Rs 15,22,221 in 21 years, i.e. maturity. At the same time, interest received at the rate of 7.6 percent in the SSY will qualify for tax exemption.

How To Open SSY Account

Sukanya Samriddhi Yojana account can be opened in any authorized branch of any post office or commercial branch. Account under this scheme can be opened with a deposit of Rs 250 by any citizen for their daughter whose age is less than 10 years on the day of opening the account. In a financial year, a maximum of Rs 1.5 lakh can be deposited under the Sukanya Samriddhi Yojana account. After opening the Sukanya Samriddhi Yojana account, it is valid till the girl child attains the age of 21 years or till she gets married after the age of 18 years.


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