After the birth of a child, parents often begin to worry about their financial future, from education expenses to marriage costs. If you share these concerns, there’s no need to panic. The government has introduced several small savings schemes that allow citizens to earn attractive returns while planning for their children’s future. Among these, the Sukanya Samriddhi Yojana stands out as a highly popular and secure scheme. Particularly beneficial for a girl child’s future, it helps parents accumulate a significant corpus over time by investing small amounts annually, ensuring financial stability for education and marriage.
The Sukanya Samriddhi Yojana is open to girls under the age of 10, and their parents or legal guardians can start investing on their behalf. The scheme’s primary goal is to build a large fund for the girl’s higher education and marriage. Annual contributions range from a minimum of ₹250 to a maximum of ₹1.5 lakh, earning an attractive 8.2% interest rate. Investments must continue for 15 years, with the account maturing when the girl turns 21. A monthly investment of ₹5,000 over 15 years can yield impressive returns, as shown below:
| Detail | Amount |
|---|---|
| Monthly Investment | ₹5,000 |
| Annual Investment | ₹60,000 |
| Total Investment Duration | 15 years |
| Total Investment Over 15 Years | ₹9,00,000 (₹60,000 x 15) |
| Total Interest Earned (8.2% p.a.) | ₹18,71,031 |
| Total Fund After 21 Years | ₹27,71,031 |
This example demonstrates that by investing just ₹9 lakh, parents can earn a net profit of around ₹18.71 lakh, resulting in a substantial corpus exceeding ₹27 lakh. To start investing in the Sukanya Samriddhi Yojana, one can visit any post office or authorized bank branch and submit the required documents, including the girl’s birth certificate and the parent’s identity and address proof.