What Is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a government-backed savings scheme introduced by the Government of India as a part of the Beti Bachao Beti Padhao campaign. It is specifically designed to promote the welfare and financial security of the girl child. The scheme provides a long-term savings opportunity for parents or legal guardians to accumulate funds for the future education and marriage expenses of their girl child. Under this scheme, an account can be opened in the name of a girl child below the age of 10 years. The account remains operative for a period of 21 years from the date of opening or until the girl gets married after the age of 18 years. The account can be opened with a minimum deposit amount, and subsequent contributions can be made on a regular basis.

Sukanya Samriddhi Yojana offers attractive interest rates, which are compounded annually and credited to the account. The scheme provides tax benefits under Section 80C of the Income Tax Act, allowing individuals to claim deductions on the amount deposited. The accumulated amount, including interest, is payable to the girl child upon maturity and can be utilized for her higher education or marriage expenses. This scheme aims to empower parents and guardians to plan for the future financial needs of their girl child, ensuring a secure and bright future. It promotes financial inclusion, equality, and women’s empowerment by encouraging savings and investment in the girl child’s education and well-being.

Can I Track Savings Growth for Education and Marriage Expenses?

Yes, the Sukanya Samriddhi Yojana Calculator allows you to track the growth of savings specifically for education and marriage expenses of your girl child. By inputting the initial deposit and subsequent contributions made towards the scheme, along with the applicable interest rate, the calculator provides an estimate of the maturity amount. The estimated maturity amount represents the accumulated savings over the investment period, which can be used to fund your child’s education and marriage expenses. It gives you a sense of the potential growth of savings and helps you plan accordingly.

Tracking the savings growth is crucial as it allows you to assess whether your investment is on track to meet your financial goals. It helps you monitor the progress and make any necessary adjustments to ensure that you are adequately saving for your child’s future expenses. By using the Sukanya Samriddhi Yojana Calculator, you can have a clear understanding of the savings growth trajectory and make informed decisions about the investment amount and duration. It empowers parents and guardians to plan effectively for their child’s education and marriage needs, providing financial security and stability.