If you’re planning for your daughter’s future, Sukanya Samriddhi Yojana (SSY) can be a smart move. By investing just ₹12,500 every month, you can secure around ₹69 lakh by the time she turns 21. This scheme, backed by the Indian government, ensures safe and tax-free returns, specially designed for a girl’s higher education or marriage in the future.
SSY Interest Rate and Investment Term
The current interest rate on SSY is 8.2% per annum, compounded annually. The maturity period is 21 years from the date of account opening, but deposits are required only for 15 years. This makes it a long-term investment plan with solid growth. You can open an account any time after the girl child’s birth till she turns 10 years old.
Account Rules, Deposit Limits, and Eligibility
Only one account can be opened per girl child and up to two accounts for two daughters per family. The minimum yearly deposit is ₹250, while the maximum annual deposit limit is ₹1.5 lakh. In this case, depositing ₹12,500 monthly means ₹1.5 lakh yearly — the maximum cap. The account can be opened in any post office or authorised bank. The parent or legal guardian operates the account.
How ₹69 Lakh is Achieved
If you invest ₹12,500 every month for 15 years, the total invested amount becomes ₹22.5 lakh. With the 8.2% compound interest, the maturity value after 21 years reaches close to ₹69 lakh. This maturity amount is completely tax-free under Section 80C and EEE (Exempt-Exempt-Exempt) category, which means the investment, interest earned, and maturity amount — all are tax-free.