Sukanya Samriddhi Scheme: If you have a 5 year old daughter at home and you are confused about which account to open for her… then no need to stress. You can open a Sukanya Samriddhi account for your daughter. If you invest Rs 50,000 every year in this account, your daughter will get more than Rs 22 lakh on maturity, which you can use for your daughter’s education or marriage.
This scheme being run by the central government is quite safe. Due to the interest earned in this scheme, customers get huge funds on maturity. At present, the government is providing an interest rate of 8 percent on this scheme.
Have to invest for 5 year old daughter
For example, suppose your daughter is 5 years old and you start investing for her from 2024, how much money will your daughter get on maturity?
Invest Rs 50,000 every year
If you invest Rs 50,000 per annum for your daughter, you have to keep the money in this government scheme till the year 2039. During this entire period you will invest a total of Rs 7,50,000. At the same time you will get Rs 14,94,845 as interest on this.
Daughter will get Rs 22 lakh on maturity
You can withdraw some amount from your daughter’s account when she turns 18. At the same time if your account matures in the year 2045, you can withdraw the full amount at that time. At this point, along with the deposit of Rs 7,50,000, you will also get Rs 14,94,845 as interest. That means you will get a total of Rs 22,44,845.
What are the features of the scheme?
To open an account in this government scheme, the age of the daughter should be less than 10 years, in which the investment is continuous for 15 years. This is a joint account, in which money can be withdrawn from the account when the child turns 21. This scheme is completely tax free.