Sukanya Samriddhi Yojana: Your Girl Child Will Get Rs 65 Lakh Return - Check Calculator Here

Sukanya Samriddhi Yojana was introduced by the Indian government, enabling parents to register savings accounts for their daughters and earn interest on the money put. The funds can be utilised for the daughter's education and wedding costs, at an interest rate of 8.5 percent per year.

One of the better programmes, Sukanya Samriddhi Yojana (SSY), allows you to contribute as little as Rs 250 per month to the future financial security of your daughter.

Sukanya Samriddhi Yojana Accounts can be opened by investors at 25 recognised banks and Indian post offices. Opening an account is a simple process that only needs a few documents. You can start this account with a minimum deposit of Rs 250.

The account opening form, the beneficiary's birth certificate (which can be acquired from the hospital, a government-notified residence, or the child's school principal), a valid address proof for the guardian or parents, and identity proof for the guardian or parents are required documents to open an account.

Sukanya Samriddhi Yojana has a 21-year maturity window starting on the day the account is opened.

For the account balance with the lowest value between the fifth day's closing and the end of the month, the interest will be calculated for the entire calendar month. At the conclusion of each fiscal year, interest is to be credited to the account.

The SSY calculator estimates that a maturity value of Rs 65,93,071 will be reached after 21 years with an annual deposit of Rs 1.5 lakh for 15 years at an expected average rate of 7.6 percent. The deposit will be Rs 43,43,071 and the interest on investments would be Rs 22,50,000 of this total.