It is Children's Day today in India, and many young kids are celebrating with their parents and friends. Many schools in the country are showering gifts on children. Children's day is celebrated on the the birthday of the first Prime Minister of independent India, Jawahar Lal Nehru, who was fondly called Chacha Nehru (Literally, Uncle Nehru), and who emphasized the importance of giving love and affection to children. To give him tribute, after Nehru's death it was unanimously declared as Bal Diwas or Children's Day on November 14. As a parent having a child is a blessing, which is why, they begin to plan for their future at an very early age. If you have an daughter, here's an amazing gift to secure her future. 

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On this special day, you can gift your daughter Prime Minister Narendra Modi's scheme for the girl child, called Sukanya Samriddhi Yojana. You can thereby start an investment journey that can give your child a better future when she turns 21. 

There are many reasons for beginning an investment for a girl child as early as possible. Some parents prepare for her wedding in future, and some simply want to give her a better education. 

One of the key highlights of the Sukanya Samriddhi Yojana is that, a parent can begin an investment at minimum Rs 1000 and maximum Rs 1.5 lakh every year.

The scheme is highly secured with a guaranteed return and a maturity period which is generally kept at 21 years of age.

Firstly, it allows you to know the exact maturity value when your investment matures. One can change the amount of investment as per their needs at any time and yet manage to get the maturity value in seconds.

As the scheme promises to provide a better future for the girl child, it has to be completely tax-free. The principal amount invested in this scheme is deductible under Section 80C of the Income Tax Act. Up to Rs 1.5 lakh is deductible under section 80C.

Because, the interest rate is compounded yearly, this scheme has turned out to be best interest rate provided in comparison to other savings schemes. It’s like a bonus, as the scheme not only provides security to the girl child but also offers a high rate of interest and tax exemption too.

If you make an investment of Rs 1,000 on yearly basis for 14 years, then you have invested about Rs 14,000 and your gains come in at Rs 46,821 at 21 years of age.

(Image Source: BankBazaar)

However, if you increase your investment amount to Rs 5,000 and Rs 10,000 annually for 14 years. Then you have invested about Rs 70,000 and Rs 1.40 lakh for the tenure, and are entitled to gain up to Rs 2.34 lakh and Rs 4.68 lakh respectively.

In case, you opt to make Rs 1 lakh investment on annual basis for 14 years, then you have invested about Rs 14 lakh for the tenure and have achieved returns of Rs 46.82 lakh.

Notably, the higher the amount of your deposits, the higher will be your gains in the scheme. Hence, if you choose to deposit up to Rs 1.5 lakh annually for 14 years, then you have invested a total Rs 21 lakh for the period, and have gain more than Rs 70.23 lakh.

Not many are in the position to afford hefty amounts on annual basis. Not to worry, the scheme is also available on monthly basis.

If you invest Rs 1,000 per month for 14 years, then your have invested about Rs 1.68 lakh for the period and will be in position to earn up to Rs 5.42 lakh.

(Image Source: BankBazaar)

If you invest Rs 5,000 per month for 14 years, then you have deposited about Rs 8.40 lakh and are in better position to earn about Rs 27.10 lakh.

At Rs 10,000 per month investment for 14 years, a customer earns return of somewhat Rs 54.21 lakh on their initial amount of Rs 16.80 lakh.

The highest monthly investment would be Rs 12,500, where you make a total Rs 21 lakh investment for 14 years, and are eligible to earn over Rs 67.76 lakh.

Hence, take this day to begin an investment for your daughter on Children's Day and thereby prepare a better future for her.