Under the Sukanya Samriddhi Yojana, a family can open accounts for up to two daughters. However, if a family has twin daughters, they can open more than two accounts. In this scheme, you can deposit a minimum of Rs.250 and a maximum of Rs.1.5 lakh per year.
The central government runs various savings and investment schemes for different sections of society. Sukanya Samriddhi Yojana is one such scheme designed for daughters. Under this scheme, accounts can be opened only for girls under 10 years of age. Currently, the scheme offers an attractive interest rate of 8.2% per year.
In this article, we will discuss important details about the scheme. We will also find out how much you can get on maturity if you deposit ₹1 lakh every year.
Maximum Deposit Limit of Rs.1.5 Lakh Per Year
Under the Sukanya Samriddhi Yojana, a family can open accounts for up to two daughters. However, if a family has twin daughters, they can open more than two accounts. The scheme allows a minimum deposit of Rs.250 and a maximum of Rs.1.5 lakh per year. You can open an SSY account in any bank or post office.
Account Matures After 21 Years
Investments under Sukanya Samriddhi Yojana must be made for 15 years, while the account matures after 21 years from the opening date. However, if your daughter turns 18 and you need funds for her marriage, you can close the account early. In some special cases, the account can also be closed after 5 years, but only under specific conditions.
How Much Will You Get on Maturity If You Deposit Rs.1 Lakh Every Year?
If you deposit Rs.1 lakh every year in the Sukanya Samriddhi Yojana, your daughter’s account will have Rs.46,18,385 at maturity after 21 years. This includes your total investment of Rs.15,00,000 and interest earnings of Rs.31,18,385.
Since this is a government-backed scheme, there is no risk involved. It offers fixed and guaranteed returns, making it a safe investment for your child’s future
