Sukanya Samriddhi Yojana: Every parent wants to see their daughter’s future bright and secure. But dreams like higher education, professional courses, or marriage often demand money and lots of it. That’s where Sukanya Samriddhi Yojana (SSY) steps in. More than just a savings plan, it feels like a promise from parents to their little girl that tomorrow will be better.
From 1st October, the government has continued the scheme with an attractive interest rate of 8.2% per annum, compounded yearly. And here’s the real surprise: by depositing ₹30,000 every year, you can create a maturity fund of nearly ₹13,85,516. Let’s see how this works.
How Sukanya Yojana Builds Wealth for Your Daughter
The account can be opened in your daughter’s name before she turns 10 years old. Deposits are allowed for 15 years, while the scheme matures after 21 years. That means your money continues to earn interest even when you stop depositing after 15 years. The biggest relief is that both the interest and maturity amount are completely tax-free. For families who don’t want to take risks in the stock market, SSY is one of the safest long-term investments.
Read more: Deposit ₹40k in Post Office and Get ₹10.84 Lakh New Rate Effective 1 Oct – Post Office PPF Scheme
Real Calculation of ₹30,000 in Sukanya Samriddhi
Here’s how ₹30,000 saved every year grows into more than ₹13 lakh under this scheme:
| Yearly Deposit | Interest Rate | Deposit Period | Maturity Period | Total Deposit | Maturity Value |
|---|---|---|---|---|---|
| ₹30,000 | 8.2% (Oct 2024 Rate) | 15 Years | 21 Years | ₹4,50,000 | ₹13,85,516 |
So while you actually save just ₹4.5 lakh, the final amount turns into nearly ₹13.85 lakh. That’s almost three times your investment, all thanks to compounding and government backing.
Why Parents Choose This Scheme
For most families, SSY is not just about returns it’s about peace of mind. Parents know that when their daughter grows up, this fund will be there waiting for her. Whether it’s college admission, professional training, or wedding expenses, SSY ensures she won’t have to compromise. Think of it like planting a seed when your daughter is born. For years you water it patiently, and when she’s ready to take flight, the tree is full of shade and fruits.
Conclusion
Sukanya Samriddhi Yojana is one of the most beautiful gifts parents can give their daughters. By depositing just ₹30,000 a year, you can build a safe, tax-free, and guaranteed fund of over ₹13.85 lakh. With the October interest rate of 8.2%, this scheme continues to be one of the strongest pillars for securing a girl child’s future.
Disclaimer
This article is only for educational and general knowledge purposes. Interest rates in Sukanya Samriddhi Yojana are revised by the government from time to time. Please verify the latest details from official India Post or bank sources, or consult a financial advisor before investing.
