Sukanya Samriddhi Yojana: If you want to earn big profits by investing small amounts (Best Investment Plans), then you can invest in the Central Government’s Sukanya Samriddhi Yojana (SSY Account). The special thing is that in this scheme you will get interest at the rate of 7.6 per cent per annum. By investing 14 years in this scheme, a hefty amount of money is prepared by the age of 21 years, which can be used in the future of the daughter. An amount of about 64 lakh can be obtained at maturity by depositing maximum in the scheme.
PPF Vs SSY: Where to deposit money for children?
How to open an account?
In this scheme one has to visit the nearest post office to open an account. Here daughter’s birth certificate, parents’ Aadhaar card, three photos and at least Rs 250 will have to be submitted. After this your account will be opened.
How much investment will have to be made?
Under Sukanya Samriddhi Yojana, you can deposit minimum Rs 250 and maximum Rs 1.50 lakh. To take advantage of this scheme, the girl’s age must be below 10 years. In this scheme, the interest rate is revised quarterly.
Benefit of tax exemption
Tax exemption is given under Section 80C of the Investment Income Tax Act under Sukanya Samriddhi Yojana. If the daughter turns 18 and needs money for studies or her marriage, then you can withdraw up to 50 percent of the deposit amount.
7.6 percent interest (interest rate in SSY account 2020)
Sukanya Samriddhi Yojana gets an annual interest rate of 7.6% on the investment. The parents of this scheme have to invest only for 14 years. After this, maturity is attained when it is 21 years. After 14 years, interest on closing amount will be 7.6% per annum.
Post Office Small Savings: If you are also thinking of investing in small savings, then hurry up
