Post Office SSY Scheme: The Post Office’s Sukanya Samriddhi Yojana (SSY) celebrated its tenth anniversary on January 22, 2025. This initiative was introduced on January 22, 2015, during the first term of the Narendra Modi administration, with the goal of ensuring a secure future for daughters.
Over the years, the Sukanya Samriddhi Yojana has emerged as a highly trusted and lucrative investment choice for countless families. It serves as a vital financial resource for supporting daughters’ education, marriage, and other essential needs. Not only does this scheme offer the highest interest rates, but it is also entirely tax-exempt. Investors can contribute for a period of 15 years, and upon maturity, they can expect a guaranteed return of three times their investment.
Calculation on maximum investment
Each year, individuals can invest up to Rs 1,50,000 in the Sukanya Samriddhi Yojana. If you begin investing with an annual interest rate of 8.2%, your total contribution over 15 years will amount to Rs 22,50,000. By the time the account matures after 21 years, this sum is projected to grow to approximately Rs 69,27,578, with Rs 46,77,578 of that total coming solely from interest. Additionally, investments up to Rs 1.50 lakh qualify for exemption under Section 80C of the Income Tax Act.
Total tenure of 21 years
The scheme spans a total of 21 years, requiring regular contributions for the first 15 years, after which the account continues to accrue interest for an additional 6 years. If the account is opened for a newborn daughter, it becomes particularly beneficial when she reaches 21, providing financial support for her marriage or higher education. Once she turns 18, she gains the ability to manage the account independently.