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With the birth of a daughter, one starts feeling a great responsibility. Parents start thinking about everything from the education of the child to her marriage and accordingly do all the planning for the future of their daughters. If you are also the father of a daughter and your daughter is less than 10 years old, then start investing in Sukanya Samriddhi Yojana (SSY) in her name.

In this scheme, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually. Currently, 8.2 percent interest is being given on the scheme. In this scheme, one has to invest for a maximum of 15 years, and after 21 years, one gets the money after maturity. If you start investing at the birth of your daughter, then at the age of 21, your daughter can become the owner of lakhs. Then, whether it is her higher education or marriage, both tasks can be handled easily.

This is how you can save Rs 69,27,578 for your daughter.

If you deposit Rs 1.5 lakh every year in Sukanya Samriddhi Account in your daughter's name, then you will have to save Rs 12,500 every month for investment. In 15 years, you will invest a total of Rs 22,50,000. Currently, this scheme is getting an interest of 8.2 percent. At the time of maturity in 21 years, you will get a total of Rs 46,77,578 as interest. In such a situation, on maturity, the daughter will get a total of Rs 22,50,000 + 46,77,578 = Rs 69,27,578 (about Rs 70 lakh).

You can open an account for only two daughters.
The interest rate in the Sukanya Samriddhi Yojana is reviewed every quarter. It also provides tax exemption under Section 80C of the Income Tax Act. You can claim tax exemption on a maximum of Rs 1.50 lakh. Under this scheme, you can open an account for only two daughters. If you have more than two daughters, you will not get the benefit of this scheme for the third or fourth daughter. However, if your second daughter, twins, or triplets are born, then a Sukanya Samriddhi account can be opened for her. If you start investing in Sukanya Samriddhi Yojana in the name of your daughter in the year 2025, then this scheme will mature in 2046.

How to open an account

Go to the website of the bank or post office and download the form for the Sukanya Samriddhi Yojana. Print it out and fill it and attach all the required information, photographs, and other documents like the girl's birth certificate, photograph, guardian's identity card etc. After this, go to the nearest bank branch or post office branch with the filled form and documents. Take the original copy of all the documents with you. After this, the employees of the bank or post office where you are opening the account will check the form and match the attached documents with the original. After this, the account will be opened in your daughter's name. After opening the account, you can do many things online. You can do work online.

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