Sukanya Samriddhi Yojana: Invest Rs 10,000 for your girl child, get Rs 52 lakh on maturity, check calculation

Sukanya Samriddhi Yojana (SSY) is an investment scheme that not only allows individuals to save taxes but also secures the financial future of their girl child. The SSY scheme is fully risk-free as the government is backing it, and it offers better returns than the majority of other small savings schemes.

Under this scheme, an investor can invest till their girl child is 14 years old. They will be able to withdraw a 50 percent maturity amount once the girl child becomes 18 years old and a full maturity amount when the girl turns 21. 

If an investor starts to invest in the SSY account right after the birth of their girl child, the investment could be done for 15 years as one is only allowed to invest in the scheme till the beneficiary child turns 14. 

Investing under Sukanya Samriddhi Yojana, SSY also allows an investor to claim income tax benefits under Section 80C of the income tax act.

Let us take an example: If an investor invests Rs 10,000 per month, they would be able to invest Rs 1.20 lakh per annum in 12 equal installments.

Bank Bazaar Sukanya Samriddhi Yojana Calculator

If the investor doesn't apply for a withdrawal of 50 percent of the maturity amount after their girl child turns 18, then, once the child turns 21, she would be able to get the complete maturity amount of Rs 52,74,457.

In this calculation, the interest rate is assumed to be 7.6 percent. The rate keeps changing.