Sukanya Samriddhi Yojana: Deposit Rs 35,000 every year to generate a fund of Rs 16 lakh, know the details

Sukanya Samriddhi Yojana: Save ₹35,000 a Year and Build a Tax-Free Fund of Over ₹16 Lakh for Your Daughter

Every parent dreams of giving their daughter the best possible education and a financially secure future. However, rising tuition fees, coaching expenses, and the heavy costs associated with weddings often make this dream challenging. To address these concerns, the Government of India launched the Sukanya Samriddhi Yojana (SSY)—a safe, long-term investment scheme designed exclusively for the welfare of girl children.

Guaranteed Returns With 8% Interest

Currently, Sukanya Samriddhi Yojana offers an 8% annual interest rate, which is compounded every year. The account matures after 21 years, but parents are required to make deposits only for the first 15 years. One of the biggest advantages of this scheme is that the entire maturity amount is tax-free, making it a highly rewarding savings plan compared to many other investment options.

How ₹35,000 Can Grow Into Over ₹16 Lakh

Let’s break down the numbers:

• If you deposit ₹35,000 every year in the SSY account, your total investment over 15 years will be ₹5.25 lakh.

• With annual compounding at 8%, this amount will generate around ₹10.91 lakh in interest.

• At maturity, after 21 years, the total corpus will be approximately ₹16.16 lakh.

This means the bulk of the maturity amount comes from interest earnings, while your actual contribution is much smaller. Such growth makes SSY one of the most attractive small savings schemes available today.

Why Sukanya Samriddhi Yojana Stands Out

There are several reasons why this scheme is considered one of the best financial instruments for securing a daughter’s future:

1. Government-Backed Security – As it is managed by the Government of India, the scheme offers complete safety for your savings.

2. Higher Returns Than Most Schemes – At 8% interest, SSY delivers better returns than many traditional savings plans.

3. Tax-Free Benefits – Both the investment and the maturity proceeds are exempt from tax under Section 80C of the Income Tax Act.

4. Long-Term Financial Support – By the time your daughter reaches adulthood, the fund ensures a substantial amount to cover her higher education or marriage expenses.

Eligibility and Account Details

• The account can be opened anytime after the birth of a girl child until she turns 10 years old.

• A minimum annual deposit of ₹250 is required, while the maximum yearly deposit is capped at ₹1.5 lakh.

• Only one account can be opened per girl child, and a family can open accounts for up to two daughters.

A Smart Step Toward Your Daughter’s Future

Sukanya Samriddhi Yojana is not just about saving money; it is about securing a brighter future for your daughter without the fear of financial burden. With disciplined yearly contributions, even a modest savings amount like ₹35,000 can grow into a life-changing fund of over ₹16 lakh.

For parents looking to combine safety, high returns, and tax benefits, SSY remains one of the most reliable investment options available today. Starting early ensures that by the time your daughter needs financial support for education or marriage, you already have a substantial, tax-free fund ready.