SSY: ₹1.5 Lakh Investment to ₹72 Lakh Return?
A mother and daughter at a government institution, depositing funds for a savings scheme.
Key Highlights
Explore Sukanya Samriddhi Yojana (SSY): Invest ₹1.5 lakh annually from age 10 and potentially receive ₹72 lakh at maturity. Understand the SSY maturity rules and interest benefits.
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed for the welfare of girl children in India. It allows parents to build a corpus for their daughters’ future education and marriage expenses.
The minimum investment in the SSY scheme is ₹250 per year, while the maximum ceiling is capped at ₹1.5 lakh annually. The SSY rate of interest is currently 8.2% per annum.
If an individual starts investing ₹1.5 lakh annually in the Sukanya Samriddhi Yojana (SSY) at the age of 10, the maturity calculation to reach approximately ₹72 lakh depends on several factors, including the prevailing interest rates and the investment tenure.
Given the current interest rate of 8.2% per annum, the investment would mature 21 years after the account opening date, i.e., when the girl child turns 31 years old, assuming consistent annual investments of ₹1.5 lakh are maintained.
The SSY account matures after 21 years from the date of opening, provided the girl child is still unmarried. The accumulated amount, including the interest earned, is then payable to the account holder.