If you are worried about your daughter’s future, then you don’t have to worry now. Ladli’s education and marriage expenses can be easily met. You just have to deposit Rs 250 every month and you can get rid of all these worries. Keeping in mind the future of the daughter, you have to plan from today itself. You can open a daughter’s account under Sukanya Samriddhi Yojana. Along with earning great returns in this government scheme, you can also save tax.
Know what is Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana (SSY) is a deposit scheme launched for daughters. Under this scheme, the guardian or parents of a girl child of 10 years of age or less can open the account. In this scheme, you can deposit a minimum of Rs 250 annually and a maximum of Rs 1.5 lakh.
By opening this account, you will get relief from future expenses on daughter’s education etc. This plan matures at 21. Under this scheme, money has to be deposited for 15 years from the date of opening the account. Interest continues to accrue for the rest of the year. At present, the scheme is getting interest at the rate of 7.6 per cent per annum.
How to get benefit
As per the rules of Sukanya Samriddhi Yojana, interest is payable only on the minimum balance available between the 5th and the last date of every month. This means that if you do not invest in it before or before 5th of the month, you will not get interest for that month. The interest on this is calculated on a monthly basis, but the entire interest is credited on the last day of the financial year i.e. 31st March. The interest in both these schemes is compounded on an annual basis. This is the reason why depositing money before 5th of every month can be beneficial.
