Big news on the SSY account! Create a government account in the daughter's name to get benefits totaling Rs. 26 lakhs

 Big news on the SSY account! Create a government account in the daughter's name to get benefits totaling Rs. 26 lakhs

SSY Account: The national and state governments periodically operate a number of programs for the women and girls of the nation. The government attempts to instill self-reliance among women via these programs.

In a similar vein, the Central Government is running the Sukanya Samriddhi Yojana (SSY) for these girls. The Modi administration has introduced the program at the Center to help exceptional girls become independent. You may use this system to progressively deposit modest sums of money, building up to a large total. Sukanya Samriddhi Yojana interest rates are now 8% annually.

Investing in SSY carries no risk. By contributing to this plan, you may enhance your daughters' future. In this case, the maturity amount is given to the daughter at her 21st birthday. This is the modest savings plan with the greatest interest rate. Every quarter, the Small Savings Scheme's interest rates are examined.

What kind of return can you expect on a Rs 5,000 monthly investment?

Sukanya Samriddhi Yojana requires monthly deposits of Rs 5,000, therefore to make a total of Rs 60,000 in a year, deposits are required. You will invest a total of Rs 9,00,000 in this manner during a 15-year period. If you are under 21 years old, do not make a deposit. However, you will still be charged 8 percent interest on the amount you have. You will now get interest of Rs 17,93,814 on your whole investment of Rs 9 lakh. This will almost double the amount invested overall. In this case, the total amount you would get at maturity, or about Rs 27 lakh, is Rs 26,93,814 in total. By making a yearly investment of at least Rs 250, you may begin this project. A maximum of Rs 1,50,000 may be invested every year.