The Sukanya Samriddhi Yojana (SSY) is a savings scheme in India that allows any Indian to start investing for their daughter’s future when she is less than 10 years old. Currently, the scheme offers an attractive interest rate of 7.6%. You can invest a minimum of 250 rupees annually and a maximum of 1.50 lakh rupees, making it a flexible and accessible savings option. You can contribute to the scheme for your daughter for up to 15 years, meaning it matures when she turns 21. The younger your daughter is when you start investing, the sooner you’ll have a substantial amount for her use.
If you begin investing in the Sukanya Samriddhi Yojana when your daughter is born, by the time she reaches 21 years old, you will have accumulated a substantial amount for her. Let’s now explore how much return you can expect on investments of 1000, 2000, 3000, or 5000 rupees.
If you invest 1000 rupees monthly, you will accumulate 12,000 rupees annually. According to the SSY calculator, with a total investment of 1,80,000 rupees over 15 years, you will earn 3,29,212 rupees in interest alone. This means you will have a total of 5,09,212 rupees available at maturity.
For those who invest 2000 rupees monthly, your annual investment will be 24,000 rupees. With a total investment of 3,60,000 rupees, you will earn 6,58,425 rupees in interest. This will result in a total of 10,18,425 rupees available at maturity.
Now, let’s consider a monthly investment of 3000 rupees. Your annual investment will be 36,000 rupees, and over 15 years, your total investment will amount to 5,40,000 rupees. With an interest earnings of 9,87,637 rupees, the total available at maturity will be 15,27,637 rupees.
For those who can invest 4000 rupees monthly, your annual investment will be 48,000 rupees. Over 15 years, you will have invested a total of 7,20,000 rupees. With an interest earnings of 13,16,850 rupees, the total available for your daughter’s future will be 20,36,850 rupees.
Lastly, if you invest 5000 rupees monthly, your annual investment will reach 60,000 rupees. Over 15 years, you will have invested a total of 9,00,000 rupees. With interest earnings of 16,46,062 rupees, you will have a substantial fund of 25,46,062 rupees at maturity.
The Sukanya Samriddhi Yojana provides an excellent opportunity to secure your daughter’s future financially. By choosing the right investment amount, you can ensure a substantial corpus for her higher education, marriage, or any other significant life events.
