Do you want to secure your girl child’s future? Then you should know about the government investment scheme for girls. In this article, you can get to know about the Sukanya Samriddhi Scheme by Post Office which offers higher interest rates than usual savings schemes. How to apply for Sukanya Samriddhi? Know the complete details below.
Sukanya Samriddhi Yojana by Post Office
Sukanya Samriddhi Yojana or SSY by Post Office is a grat initiavite by Governmen of India for girls. Here you can get 8.2% interest which is higher than any other schemes. The account matures after 21 years or after the girl becomes 18 years of age and the money can be withdrawn. So if you put Rs 1000 every month it will be a great asset.
SSY investment Rule
Any Indian parent one can open Sukanya Samriddhi Yojana account for their child. Try to start at a early to get the most benefit. You can deposit minimum Rs 1000 to maximum Rs 1.5 Lakh each year in the SSY Account. This amount is also tax free under 80C of Income tax act 1961.
Rs 1000 Deposit becomes 5.5 Lakh
As said earlier if your girl’s age is currently 5 years, and you start depositing Rs 1000 every month. Then till 21 years you would have invested Rs 1,80,000 in total. Which will get additional interest more than 3 lakh 74 thousand, totaling maturity amount to more than 5 lakh 54 thousand rupees.
SSY Maturity Calculation
As the maximum limit is Rs 1.5 Lakh in a year, support you are investing Rs 12500 every month in SSY. Then if you continue investing for 15 Years you will have deposited Rs 22 lakh 50 thousand rupees. which will gather interest of Rs 46,82,648. So maturity amount will be Rs 69,32,648 after 21 Years.
How to Apply for SSY Account in the Post Office?
You need to visit your nearest post office and ask about the Sukanya Samriddhi Yojana account opening form. Then once you get the form fill up with all the necessary details and submit it to the post office along with all the documents needed.
