Sukanya Samriddhi Yojana Details: Gift your baby girl Rs 11 Lakh; invest just Rs 2000/month!

ukanya Samriddhi Yojana: This Daughter's Day 2018, making your daughter financially secure could be the best thing you can try for her. Here's a suggestion you may like to think about: If you invest just Rs 2000/per month (or Rs 24,000/year) on behalf of your girl child for 14 years, you will be able to gift her around Rs 11 lakh on your total investment of Rs 3.36 lakh after she turns 21. You can do so by investing in Narendra Modi government's flagship scheme for the girl child 'Sukanya Samriddhi Yojana' (SSY). 

The government recently revised the Sukanya Samriddhi account deposit rate to 8.5 per cent from the previous 8.1 per cent. The interest rate is revised by the government every year. Being the government-sponsored scheme, investing in SSY is one of the safest options. 

Any legal parent or guardian can open the SSY account in the name of the girl child below 10 years of age. If you start an SSY deposit for your one-year-old daughter with a Rs 2000/month investment for fourteen years, she will get around Rs 11,00,000 when she turns 22. For an investment of Rs 5000/month for 14 years, the return be around Rs 28,00,000 when she turns 22 (Provided the interest rate remains 8% or above).

The investment in SSY account needs to be made for 14 years only, while it matures in 21 years. One can start an SSY account with an investment of as little as Rs 250/month. The maximum deposit limit in the SSY account is Rs 1,50,000/years.  

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SSY accounts can be opened in commercial banks as well as at post offices. 

The SSY deposits, amount earned as interest, and the amount withdrawn enjoy tax exemption.

A guardian can open SSY account for up to two girl children or three in case there are twin girls. 

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The SSY scheme was launched by the Modi government in 2015 as a part of the 'Beti Bachao, Beti Padhao' programme.