Kolkata: 

One significant point about SSY is that one can invest at any time after the birth of a girl child. But there is a condition — one must invest in one before the girl turns 10. The maturity term of Sukanya Samriddhi Yojana is 21 years from the date of opening of the account. There is another important point to remember — one needs to invest in this scheme for the first 15 years only. Subsequently, the investment will stop though it will continue to earn interest for the rest six years. The rate of interest payable in SSY is 8.2%. It has been at that level for a few years though the government is supposed to be reviewing it once every quarter.

 The Sukanya Samriddhi Yojana (SSY) instrument is for all those who are averse to risks and, therefore, fights shy of market instruments which generates significantly higher returns albeit in lieu of significantly higher risk. The point to note is that one can invest in this instrument only if one has a girl child.

How much to invest for Rs 50 lakh final corpus

However, as a matter of abundant caution one should remember it always helps to consult a qualified personal finance advisor before investing in any security — market-linked or guaranteed-return — before putting one’s hard earned money in them.

Now assume a person opened a Sukanya Samriddhi Yojana account when his daughter turned five. The girl was born in 2021. Therefore, the maturity amount will become payable in 2042. Now the SSY calculator will tell you that if a parent continues to invest Rs 1,10,000 every year in the SSY account, the final corpus that will be created in account in 2042 will be Rs 50,80,224, or Rs 50.80 lakh. During this time, he would have invested a total of Rs 16.50 lakh and the total interest he would have earned is Rs 34,30,224.

What is Sukanya 1,000 per month

Now let’s see what will be the corpus if one invests Rs 1,000 per month, or to maket matters simple, Rs 12,000 a year. In that case the amount that will be amassed by 2042 is Rs 5,54,206 — comprising a principal (out of pocket investment) of Rs 1,80,000 and an interest component of Rs 3,74,206. The point to note is that one can invest a maximum of Rs 1.5 lakh a year in a SSY account.

However, as a matter of abundant caution one should remember it always helps to consult a qualified personal finance advisor before investing in any security — market-linked or guaranteed-return — before putting one’s hard earned money in them.

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