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Empower Your Daughter’s Tomorrow with Sukanya Samriddhi Yojana Today – Times Bull

Empower Your Daughter’s Tomorrow with Sukanya Samriddhi Yojana Today

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The Sukanya Samriddhi Yojana (SSY), launched by the Government of India, is a visionary scheme designed to provide financial security for girls.

By investing in this scheme, you can ensure a bright future for your daughter, funding her education and other life goals.

A Lucrative Investment

SSY offers a combination of high returns and tax benefits. The scheme provides a compound interest rate of 8.2% per annum for the current quarter (July 1, 2024, to September 30, 2024), making it an attractive investment option.

How Much Can You Earn

If you have a 5-year-old daughter and invest ₹10,000 per month (₹1.2 lakh annually) in SSY, with an interest rate of 8.2%, the estimated maturity amount after 21 years will be around ₹55.61 lakh.

Out of this, ₹17.93 lakh will be your investment, and ₹37.68 lakh will be the interest earned.

Key Features of SSY

Tax Benefits- Investments in the Sukanya yojna are eligible for tax cutting under Section 80C of the government Income Tax Act.

Lock-in Period- The scheme has a lock-in period of 21 years, ensuring long-term financial discipline.

Early Withdrawal- In case of exceptional circumstances, partial withdrawal can be made after the completion of 5 years.

How to Open an SSY Account

To open an SSY account, you can visit your nearest post office or authorized bank. The account of beneficiary can be opened for a girl child up to 10 years of age.

A minimum deposit of ₹250 is required per month, with a maximum annual investment of ₹1.5 lakh.

Enjoy Tax Benefits and High Returns

SSY offers a host of benefits, including-

Tax Exemption- Investments made under SSY are eligible for tax deductions under Section 80C of the Income Tax Act.

High Interest Rates- The government sets quarterly interest rates for SSY accounts. Currently, the interest rate stands at 8.2% per annum (from July 1, 2024 to September 30, 2024).

Long-Term Maturity- The scheme has a lock-in period of 21 years, ensuring a disciplined approach to savings.

Sukanya Samriddhi Yojana is a valuable tool for securing your daughter’s future. By investing in this scheme, you can provide her with the financial resources she needs to achieve her dreams.

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