One of the most well-liked and secure investment fields is the Sukanya Samriddhi Yojana, which the Indian government introduced. which parents must administer to their daughters. The government-sponsored little savings program will assist parents in setting aside funds for their daughter’s future need for a significant quantity.
Sukanya Samriddhi Yojana – Until their daughter becomes 14 years old
investors can still make investments in this plan. When the girl child turns 18 years old, he or she may withdraw 50% of the maturity amount, and 100% when the girl child is 21.
Calculator for the Sukanya Samriddhi Yojana
If a person opens an SSY account as soon as his or her daughter is born, the investment can last for 15 years because the investor is allowed to fund the account until the beneficiary girl is not yet 14 years old. Additionally, you might reduce your income tax by investing in it.
Under section 80C of the Income Tax Act
investors in this program will receive income tax advantages. Consider a monthly investment of Rs. 10,000. After that, he will make 12 equal annual investments of Rs. 1.20 lakh.
If the investor chooses not to withdraw 50% of
the maturity amount once his girl child gets 18, he will be eligible to earn the whole Rs 52,74,457 maturity amount once the child turns 21. Its interest rate at the moment is 7.6 percent. Please let it be known that this interest is waning.
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