Under the scheme, the minimum investment is ₹250 per financial year, while the maximum investment allowed is ₹1.5 lakh. It is designed to help parents build a corpus for major expenses such as their daughter’s education and marriage.
A daily investment of ₹50 translates to around ₹1,500 per month or ₹18,000 annually. If this amount is invested for 15 years, the total contribution will be ₹2.7 lakh.
Based on the current interest rate of 8.2%, if the daughter is 10 years old and ₹1,500 is deposited every month, the investment could earn around ₹5,61,309 in interest by maturity. This would take the total corpus to approximately ₹8,31,309. However, the maturity amount may vary if the government revises the interest rate.
The scheme offers complete safety as it is backed by the government. It also provides a higher interest rate than other post office savings schemes, ensuring that both small and large investments remain secure.
In the event of the account holder’s death, the account is closed after the submission of the death certificate and Form 2. The entire balance, along with interest accrued up to the date of death, is paid to the guardian. For the period between the account holder’s death and the closure of the account, interest is paid at the rate applicable to a Post Office Savings Account.
Premature closure of a Sukanya Samriddhi Yojana account is not permitted under normal circumstances. However, the account may be closed before maturity under certain special conditions after it has completed at least five years from the date of opening.
