When your daughter turns 21, she will get Rs71.82 lakh with the help of SSA, know the complete process
When your daughter turns 21, she will get Rs 71.82 lakh, with the help of SSA, understand from the chart Sukanya Samriddhi Account or SSA is one of the highest interest paying government schemes of the Indian Postal Department, whose account holders At present, interest is given at the rate of 8.2 percent every year.
After continuously investing in Sukanya Samriddhi Account for 15 years, an amount of Rs 71,82,119 will be seen deposited in the daughter’s account as soon as she completes 21 years of age…
A few years ago, the Central Government had given the slogan ‘Beti Bachao, Beti Padhao’, which had a wide impact. In fact, for decades, there have been some people in our society who have considered daughters a cause for concern, but many daughters have also continuously performed feats that bring glory to the country and their parents. Well, today our daughters are bringing glory to the family in every field, and there has been a change in the thinking, but many families still exist, where everything from the education and upbringing of the daughters to their marriage Parents are seen getting lost in the worries of… To help such parents, there is a scheme of the Central Government, if you save continuously for a few years, your daughter will get a tax deduction of about Rs 72,00,000 as soon as she turns 21. She can become the owner of free white money, which will be useful in shaping her future.
What is Sukanya Samriddhi Account…?
The name of this scheme, started by the Narendra Modi government at the Center in its first term, is Sukanya Samriddhi Account (SSA), under which any Indian citizen can register for a post office or post office as soon as a daughter is born in her house. SSA account can be opened in the bank. After continuously investing in the SSA account for 15 years, one will have to wait for six more years, and as soon as the daughter completes 21 years of age, an amount of Rs 71,82,119 will be seen deposited in her account.
Rules related to Sukanya Samriddhi Account
Under Sukanya Samriddhi Yojana, an account, Sukanya Samriddhi Account, can be opened only by the father or guardian whose daughter is 10 years of age or less. Like PPF or Public Provident Fund, a maximum of Rs1,50,000 can be deposited every year in this account, but the minimum amount that can be deposited every year in an SSA account is only Rs 250. The biggest feature of Sukanya Samriddhi Yojana is that among the government schemes issued across the country today, it is one of the highest interest giving schemes, whose account holders are given interest at the rate of 8.2 percent every year, whereas in PPF currently the interest rate is 7.1 percent. Interest is being given at the rate of percentage.
How to get maximum benefits…?
Now note, if you open an account under this scheme as soon as your daughter is born, then you will have to deposit the amount every year till the daughter turns 15, which can be a maximum of Rs 1,50,000. There will be a chance to earn maximum interest in SSA only if you deposit this amount in the account before 5th April of every financial year. By depositing this amount every year for 15 years, you will accumulate a total of Rs 22,50,000 in 15 years, and when the account matures when your daughter turns 21, she will get a total of Rs 71,82,119, provided the current interest rate remains unchanged.
Maturity amount will be completely tax free
Remember, you had deposited a total of Rs 22,50,000 in your daughter’s account in 15 years, and the interest share in the total amount received by the daughter will be Rs 49,32,119. The most important aspect of this amount is that your daughter will not have to pay any tax on this entire amount (Rs 71,82,119). Yes, one thing must be kept in mind, the government revises the interest rate every quarter, hence, due to change in the interest rate, the amount received by the daughter at the time of maturity of the account may increase or decrease.
Understand the benefits of SSA.
Now you should understand through a chart that when and how much amount should you deposit in the SSA account opened in your daughter’s name, so that the daughter can get maximum amount. If you open a Sukanya Samriddhi account in any post office or bank branch as soon as your daughter is born, and deposit the initial amount of Rs 1,50,000 in it, then after completion of one year, it will get interest at the rate of 8.2 percent. You will get Rs12,300 as capital gain, which will make the total original investment at the beginning of April next year Rs 1,62,300. Now, as soon as Rs 1,50,000 of next year’s investment is deposited in this account, the amount on which you will get interest at the end of the second year will be ₹ 3,12,300, and the interest received on it will be Rs 25,609.
Now, keeping these dates in mind, keep depositing Rs 1,50,000 in your daughter’s Sukanya Samriddhi account for 15 consecutive years, and in this way you will deposit a total of Rs 22,50,000, and then after the daughter turns 21 Will wait for this to happen, that is, nothing will be invested in this account for the next six years. But interest will be continuously added to the daughter’s account every year, and when the daughter’s SSA account matures, she will get a total of Rs 71,82,119, which will be completely white money, and also completely tax free.
Also remember this…
Well, there is one more thing which is important for you to know. As soon as your daughter turns 18, the SSA account will be in her name, and after that she will be able to operate the account. Another thing to remember is that this account can be opened after the birth of the daughter, but before she turns 10, so, in such a case, the maturity of the account will be on completion of 21 years. Not when it happens. But even in this situation, the account will be in the name of the daughter only when she becomes an adult, 18 years of age.
The government revises the interest paid on SSA account every quarter, so in case of increase or decrease in the interest rate, the total amount received by your daughter may also increase or decrease.
The amount invested in the SSA account should be deposited every year before the 5th of April, so that the daughter can get maximum interest.
Remember, if your daughter’s age is more than 0 years at the time of opening the account, then your daughter will get the maturity amount when the account completes 21 years, not when the daughter turns 21.
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