SSY Scheme: The Government of India offers many types of saving schemes, through which a good amount can be prepared for the future. Sukanya Samriddhi Yojana for daughters is also one of them. This scheme offers an interest rate of 8.2% every year.
In this scheme, parents can start investing for their daughter below 10 years of age. Let us tell you that a maximum of Rs 1.5 lakh can be deposited annually in the scheme. Investment has to be made continuously for 15 years in Sukanya Samriddhi Yojana. The investment amount matures after 21 years. After this, the entire amount is returned including the invested amount and interest.
How will you earn money from Sukanya Samriddhi Yojana?
To understand the benefits of investing in Sukanya Samriddhi Yojana (SSY Scheme), let us understand it with an example. If an investor deposits Rs 1.5 lakh every year in the scheme for 15 years, then the total deposit will be Rs 22,50,000.
At the rate of 8.2% interest on the deposited amount, the total investment will yield an interest of Rs 46,77,578. The special thing is that the interest received on the investment is double the principal amount. In this sense, an investment of Rs 1.5 lakh every year will become Rs 69,27,578 on maturity.
Sukanya Samriddhi Yojana Calculation
- Daughter’s age: 10 years
- Year of investment: 2021
- Amount deposited every year: Rs 1.5 lakh
- Annual interest rate: 8.2%
- Total amount after 21 years: Rs 69,27,578
- Interest income: Rs 46,77,578
- Maturity year: 2042
1 lakh investment in SSY will become 46 lakhs
If you invest 1 lakh rupees every year in the scheme for your daughter. If you invest for 15 years continuously, then the total deposit amount will become 15 lakh rupees. As per the current interest rate of 8.2%, you will get 31.18 lakh rupees interest on the total deposit. In this way, the total investment and interest income will be 46.18 lakh rupees on maturity. That is, the total investment amount will increase more than 3 times.