If I Invest in Post Office Sukanya Samriddhi Yojana Monthly 1000 Rupees, How Much I Will Get in Return ?

Investing in Post Office Sukanya Samriddhi Yojana Monthly 1000 may give you decent return but it depends how early you start the investment.

In this artilce we will know in deep with real life example of Sukanya Samriddhi Yojana investment of Monthly 1000 Rupees.

First Understand What is Sukanya Samriddhi Yojana ?

In my word Sukanya Samriddhi Yojana (SSY) is the government supported investment that can be only done on the name of girl child.

Anyone who has girl child can start investment form her birth date till 21 years. The investment in Sukanya Samriddhi Yojana (SSY) is totaly risk free and it insure fixed return.

Investing in Post Office Sukanya Samriddhi Yojana Monthly 1000 Rupees

Sukanya Samriddhi Yojana (SSY) investment can be done in the any bank or near by post office.

Since Post office has better reach in the remote areas and cities, so it will be great idea to invest throgh Post Office.

Once you are ready to invest in Sukanya Samriddhi Yojana (SSY) then remeber return will be calculated on the basis of year.

Here year means that how long you have investment that will affact your return.

If you are going to invest in Post Office Sukanya Samriddhi Yojana Monthly 1000 Rupees then to know the return you need to child age from when you start saving.

Calculation on child age is about 1 year

Assume that your girl child age is about 1 year and you started investment of 1000 rupees in the post office.

By this you will have Maturity Value Approximately ₹5,74,547 and total intrest earned Approximately ₹3,94,547 aginst the total investment of ₹1,80,000.

You can use our  Sukanya Samriddhi Yojana Calculator for doing such calculation.

Calculation on child age is about 5 year for SSY

Since you started investing late as 5 years of girl child then the rertun will be not same as above. Using  Sukanya Samriddhi Yojana Calculator we can do calculation.

If you invest ₹1000 per month for 10 years, your maturity amount after 21 years will be approximately ₹417612.35.

If you invest ₹1000 per month for 15 years, your maturity amount after 21 years will be approximately ₹531025.45.

Calculation on child age is about 8 year for SSY

If you invest ₹1000 per month for 7 years, your maturity amount after 21 years will be approximately ₹324731.04.

Calculation on child age is about 10 year for SSY

If you invest ₹1000 per month for 5 years, your maturity amount after 21 years will be approximately ₹249422.61.

Things to know before invest in Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme aimed at promoting the welfare of girl children in India. Here are key details to know:

Eligibility: Parents or legal guardians can open an SSY account for a girl child aged 10 years or younger. Each family can open up to two accounts for two girls; a third is permitted in the case of twins or triplets.

Deposit Requirements: A minimum initial deposit of ₹250 is required, with subsequent contributions in multiples of ₹100. The maximum annual deposit limit is ₹1,50,000.

Interest Rate: The scheme offers an interest rate of 8.2% per annum (as of January 1, 2024), compounded annually.

Deposit Duration: Deposits can be made for 15 years from the account’s opening date.

Maturity Period: The account matures 21 years from the date of opening.

Partial Withdrawals: Up to 50% of the account balance can be withdrawn when the account holder reaches 18 years of age, typically for educational expenses.

Tax Benefits: Deposits qualify for tax deductions under Section 80C of the Income Tax Act, up to ₹1,50,000 per annum. Additionally, the interest earned and the maturity amount are tax-free.

Conclusion

Investing ₹1,000 monthly in the Sukanya Samriddhi Yojana is a prudent decision to ensure your daughter’s financial security. The scheme’s attractive interest rates, coupled with tax benefits, make it an excellent choice for long-term savings.