sukanya samriddhi yojana monthly 1000 scheme – best plan for daughter

What will you get if you deposit in sukanya samriddhi yojana monthly 1000? This question arises when you plan for the future of our daughter. How much money will be obtained by depositing ₹ 250 for 14 years in Sukanya Yojana? How much will be received in 18 years?

These questions were asked by me many times; I used to ignore them earlier, considering their math questions. But later, I realized that it is not a math question but a father’s question who is looking for a bright future for his daughter.

People who believe that, by calculating compound interest, they can figure out the amount of money they will receive on the maturity date of Sukanya Yojana are also proven wrong. Because its interest rate will change many times in the next 14 years, and many other factors will hinder your correct assessment.

You will get information about all these and we will try our best to give you correct and clear answer.

post office sukanya samriddhi yojana monthly 1000

Sukanya Samriddhi Yojana is a scheme promoted by the Government of India that provides high protection for your investments. This means that your deposit is safe, and no stock market risk is involved.

Although you can open it from a specific public sector bank, some people believe it is easier to open it from a post office. I leave it to you where you prefer to open this account for your daughter.

sukanya samriddhi yojana monthly 1000 plan

The interest rate of Sukanya Samriddhi Yojana is 8 per cent from april 2023; if you deposit Rs 250 per month in your account, then Rs 3000 thousand will be deposited in your account in a year. And if you deposit in sukanya samriddhi yojana monthly 1000, then 12 thousand rupees will be deposited in a year.

sukanya samriddhi yojana monthly 1000

Now the question arises whether you will get the interest quarterly or annually. The answer is that interest will be provided to you annually.

You can deposit money in this account anytime throughout the year; it is mandatory to deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh per year. And even if you want to, you can only deposit up to 1.5 lahks in the account in a year.

If you deposit ₹ 1000 in Sukanya Yojana for 14 years, you will get approximately 4 lakh 7 thousand rupees after 18 years. Similarly, if you deposit ₹ 500 will get about two lakh rupees on maturity.

Learn more: How to prepare a huge pension fund for old age pension plan

Now you are given the basic information about Sukanya Samriddhi Yojana Monthly 1000 Scheme so that you can easily plan for your daughter’s future.

sukanya samriddhi yojana monthly 1000 plan features

  • The guardian/father can open an account between when a girl child is born and ten years old.
  • A parent can open this account for a maximum of two of his girls. If the girl is a twin, then a change in the rule is possible.
  • This account will be opened in the post office. Apart from this, some banks have been allowed by the government to open an account. This account can be transferred to any city.
  • When the girl child turns 10, she gets the right to manage her account.
  • When the girl child turns 18, she can withdraw 50% of the deposit if she needs money for further studies.
  • Income tax exemption is available under section 80C in this plan.
  • Money received on maturity will also be tax-free. That is, you will not have to pay any hidden tax on the amount received on maturity.

The birth certificate of the girl child is necessary while opening the ‘sukanya samriddhi yojana monthly 1000 scheme’ account; this is necessary to prove age. In addition to this, a parent’s identity card and proof of address need to be provided.

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