How to save money for your daughter's future? | Sukanya Samriddhi Yojana

We have told you many investment options to secure your future, but today we will tell you about the beauty of your home i.e. securing the future of your daughter. Daughters contribute to the upbringing of not one but two homes, for which they need to be safe. The government had started the Beti Bachao Beti Padhao campaign to educate every daughter of the country.

Sukanya Samriddhi Yojana:

Along with this scheme, to make the future of daughters more bright, the Modi government had also started a small savings scheme i.e. Sukanya Samriddhi Yojana. Today we are going to give you all the necessary information related to this scheme, which you hardly know about. Sukanya Samriddhi Yojana helps parents in raising funds for their daughters from higher education to their marriage. Sukanya Samriddhi Account can be opened in any post office or bank branch. 

The account opened under this scheme can be operated for twenty-one years, so let us tell you what are the rules of this account. How much interest is available on this and also for how many years you can deposit money in this account. If your daughter's age is less than 10 years, then only you can open his account in this scheme. The account can be opened in Sukanya Samriddhi Yojana with an initial amount of only ₹ 250. 

After this, you can deposit a maximum amount of ₹ 1.5 lakh i.e. up to one and a half lakh rupees every year in this account and you have to deposit at least ₹ 250 every year to keep the account running. This account can be run for a total of twenty-one years, out of which you can deposit money in this account for 15 years. After this, you will get interest in it for the remaining six years. At the same time, after the daughter turns 18, you can also withdraw up to 50% of the amount from Sukanya Samriddhi's account for her higher education. 

Under this scheme, you currently get an interest of up to 7.6%. Under Sukanya Yojana, the daughter's parents or legal guardian can open an account in her name. A Sukanya Samriddhi Account can be opened for only one girl child. That is, there cannot be two accounts in the name of a girl child. The interest earned on the Sukanya Samriddhi account is fixed every quarter based on the yield of government bonds. 

The interest rate on the Sukanya Samriddhi account is up to 0.75% higher than that of government bonds, so let us also give you another example according to the 7.6% interest rate. If your daughter is of five years of age, you open an account in Sukanya Samriddhi Yojana and make an investment of ₹ 2,000 in this account every month. That is, if you invest ₹ 24,000 a year in this account, then for 15 years you can save ₹ 3,60,000 in this account. On which you will get an interest of about ₹ 6 lakh. 

If you get it, that is, when your daughter turns 26 years old, then you will be an amount of about ₹ 10.25 lakh in that account. We have calculated this based on the interest rate of 7.6% that we are getting now. On the other hand, if you deposit an amount of ₹ 5,000 every month in the Sukanya Samriddhi Yojana account. That is, if you deposit ₹ 60,000 in the account in a year, then for 15 years you would have deposited an amount of about ₹ 9 lakh in this account.

On which you will get an interest of about ₹ 16.46 lakh at the rate of 7.6 %. After which, when your daughter is 26 years old, you will have an amount of about ₹ 25.46 lakh in that account. When to open this account is up to you. If you want this amount quickly, then you can open your daughter's account early. Let us tell you that by opening an account in this scheme, not only your daughter's future is secure, but you also get tax benefits.

Apart from this, the returns received under this scheme are also tax-free. Investment in Sukanya Samriddhi Yojana is also exempted from tax under Section 80C of the Income Tax Act. This means that you can take advantage of tax exemption by investing ₹ 1.5 lakh every year. On the other hand, if you start investing in the Sukanya scheme by March 31, 2023. If you come, you can also take advantage of tax exemption for this area. 

Important things for Sukanya Samriddhi Yojana account opening:

Now let us tell you what documents you will need to open Sukanya Samriddhi Account. For this, you will have to deposit the daughter's birth certificate at the post office or the bank where you want to open your account. Along with this, the ID proof of the daughter and parents will also have to be given. Let us tell you the one more important thing. If the minimum amount is not deposited in the Sukanya Samriddhi account, it becomes irregular. 

After which it can be regularized by paying a penalty of ₹ 50 per annum. Along with this, you will also have to deposit the minimum amount deposited i.e. ₹ 250 in the account for every year. On the other hand, if the penalty is not paid, then the amount deposited in the account will get the same interest as the savings account of the post office, which is about 3.5% at present. If excess interest has been deposited under this account, then it can also be revised.

You can deposit money in this account through a cash check or demand draft. For this the one who is depositing the money and in whose name the account is there. Both names must be written. Apart from this, you can deposit money in this account by electronic mode transfer. That is, you can also do online transfers, but for this, it is necessary to have a core banking system with that bank or post office.

If you are depositing money in this account by check or demand draft, then after the check is cleared, interest will be started on it, whereas interest is calculated from the same day on depositing online. Now you must be thinking that what will happen if you have to shift somewhere during one's years. For this also you do not need to panic because Sukanya Samriddhi Account can be transferred anywhere in the country and this transfer is free. However, for this, it is necessary to shift the account in whose name is there.

For this, if the Sukanya Samriddhi account holder has to show proof of the shift of her parents or guardian, then through this scheme you can make your daughter's future golden as well as save tax. So these are some special things that you need to keep in mind while opening this account. Now let us also tell you how this account can be opened. For this, you can open your account by going to the post office or bank, as well as this account can be opened online by visiting the website of these banks or post offices. 

We hope you enjoyed our article "How to save money for your daughter's future?" And if you need information about investing in any immovable scheme, then you can tell us by writing in the comment on our website www.tradeipohub.co.in. Thanks for reading.