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Wealth Generation For Daughter: As soon as the little angel comes to your house as a guest, you start dreaming about her future. From his education to his marriage, the picture starts forming in front of your eyes at the time of birth. To give wings to these dreams of the daughter’s parents, the Government of India had come up with Sukanya Samriddhi Yojana 10 years ago. Times have changed a lot in 10 years. Now instead of gifting a little money, the daughter has started feeling the need of gifting good money for her education. Sukanya Samriddhi Yojana definitely gives an emotional connect with the daughter, but to become a wealth generator for the daughter, you need an investment connector instrument more than an emotional one. Therefore, it is important for you to know what can give better returns to your daughter than Sukanya Samriddhi Yojana.
These are the benefits of Sukanya Samriddhi Yojana
Even after completion of 10 years of Sukanya Samriddhi Yojana on 22nd January, there is no dearth of people who like it. Its first advantage is that its 8.2 percent interest rate gives better returns than other savings schemes. An account can be opened under this scheme in the post office for girls below 10 years of age. Parents can operate it until the child turns 18 years old. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited in this account every year. Money can be deposited in the account till 15 years after opening. This account will mature and be closed after 21 years of account opening. After the daughter turns 18, part or all of the money can be withdrawn from this account at any time. According to experts, it not only gives tax benefits but also gives better returns.
What could be better than Sukanya Samriddhi
According to financial experts, Sukanya Samriddhi Yojana gives good returns, but since its maturity period is after 21 years, it is not a good option for the higher education of the girl child. Withdrawal of money just after the child turns 18 does not give better returns. At the same time, by investing money in equity mutual funds, you can get better returns and there is no problem in withdrawing money in between. The cost of education has increased a lot in the last 10 years. Therefore, it is not right to limit the maximum deposit to only Rs 1.5 lakh per year. This should be increased.
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