Sukanya Samriddhi Yojana (SSY), operated under the ‘Beti Bachao, Beti Padhao’ initiative of the Central Government, is one of the most popular and highest interest paying small savings schemes of the country for the secure future, higher education and marriage of girls. Currently the government is providing 8.2% annual interest (compounded annually) on this scheme. If you deposit the maximum prescribed limit i.e. ₹ 1,50,000 per year (₹ 12,500 per month) at the birth or initial years of your daughter, then on completion of the maturity period of 21 years, a huge guaranteed fund of about ₹ 71.82 lakh is created in the name of the daughter.
It is very important to understand the structure of Sukanya Samriddhi Yojana:
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Deposit Period: From the date of account opening only 15 years Money has to be deposited only till.
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Maturity Period: Total from date of account opening 21 years After this the scheme becomes completely mature.
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Benefits from 16th to 21st year: In the last 6 years (from 16th to 21st year) you do not have to deposit any new amount from your pocket, but the compound interest fixed by the government keeps getting added on the entire capital deposited in the account. These 6 years play the biggest role in wealth creation.
The complete financial ledger of 21 years based on the current 8.2% annual interest rate is as follows:
| Description | calculation/figure |
| annual deposit amount | ₹1,50,000 (maximum legal limit) |
| deposit period | 15 years |
| The total principal amount invested by you | ₹22,50,000 (₹1.5 lakh × 15) |
| current interest rate | 8.20% per annum (compounded) |
| Total interest earned (in 21 years) | ₹49,32,119 |
| Total maturity fund after 21 years | ₹71,82,119 (approximately ₹71.82 lakh) |
The biggest feature of this scheme is that the net interest you get on the principal amount of ₹ 22.50 lakh deposited by you (₹49.32 lakh) is more than double your total investment.
| Milestone | total principal amount | Total balance in the account (Principal + Interest) |
| At the end of 5th year | ₹7,50,000 | ₹9,55,954 |
| At the end of 10th year | ₹15,00,000 | ₹23,73,618 |
| At the end of the 15th year (last installment) | ₹22,50,000 | ₹44,75,989 |
| At the end of the 18th year (without new deposit) | ₹22,50,000 | ₹56,69,840 |
| At the end of the 21st year (full maturity) | ₹22,50,000 | ₹71,82,119 |
Sukanya Samriddhi Yojana under Income Tax Act EEE (Exempt-Exempt-Exempt) Category status:
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Rebate on deposits: Income tax section on investments up to ₹1.5 lakh deposited per financial year 80C Under this, the benefit of tax deduction is available.
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Zero tax on interest earned: There is no tax on the interest added to the account every year.
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Maturity completely tax-free: Not even ₹ 1 income tax or capital gains tax is deducted on the entire amount of ₹ 71.82 lakh received after 21 years.
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Partial Withdrawal at 18 years of age: When the daughter completes 18 years of age or passes 10th class, the balance of the previous financial year can be used for her higher education (college/university fees). up to 50 Can be taken out.
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Premature closure of marriage: If the marriage of the daughter is fixed after she completes 18 years of age, then the account can be completely closed even before the age of 21 years by presenting the necessary marriage proof for the marriage expenses.
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Eligibility to open account: From the birth of the daughter to her age 10 years Before completion, this account can be opened in any post office or authorized government/private bank. This account is allowed to be opened only for a maximum of two daughters in a family.