Hello, Guys. Today We will discuss Sukanya Samriddhi Scheme Details,  it's benefits & withdrawal rules. What is Sukanya Samriddhi Yojana, and what is a better tax saving option? You must have seen about Sukanya SamriddhiYojana on your TV or newspapers. Our Prime Minister also mentions the scheme often on many platforms., so let us tell you today about this scheme. 

Let's find out about Sukanya Samriddhi Yojana. Sukanya Samriddhi Yojana was launched by PrimeMinister Narendra Modi in the year 2015, this scheme is intended to encourage the parents to Invest for their girl child and safeguard their future. So that during their future expenses such as higher education a financial problem does not arise.

Let us know how you can secure your daughters future through this scheme, how is this scheme, what are its rules? This is a simple savings scheme in which you invest for your daughter every year for 15 years. Parents or legal guardians can open an account in the name of their daughter from Newborn to the age of 10 years. Let's talk about the features of this scheme. Investment limit - In this scheme, every year you have to invest a minimum of Rs. 250 and the maximum you can invest is 1.5 lakh rupees every year. One thing you have to keep in mind is that after starting the investment, up to 15 years, you have to invest the minimum amount of Rs. 250 every year. But to stay invested after the 15 years till the maturity duration i.e 21 years is optional. 

This scheme has a return guaranteed and the government decides its interest rate in every quarter like the interest rate in this quarter is 8.5% If you invest a maximum limit of Rs 1.5 lakh every year, after 21 years, your investment value will be Rs 73.90 lakhs. This amount can be a major expense in your daughter's life, such as for education or marriage. Taxation- This is a great tax saving scheme as it comes with EEE -Exempt-Exempt-Exempt- a tag which means that you can save tax by investing up to 1. 5 lakhs every year by availing deduction under section 80c. There will be no tax on the interest amount which you will earn, and you will not have to pay any tax even on the final corpus. Lock-in Period- The lock-in period of the SukanyaSamriddhi Yojana account is 21 years. For example, if you open an account in the name of your daughter at the age of 4 years, then you can withdraw this amount when she is 25 years old.

However, in some special circumstances, you can withdraw up to 50 percent of the amount. Let's know what are those circumstances? 1-Higher education- You can withdraw the amount for the higher education of the daughter after the age of 18 years, at that time you can get 50% of the amount of money in your account till the last financial year. 2-For marriage purpose- If you are planning for your daughter's wedding, you can still do a partial withdrawal in this scheme. Now that you know about Sukanya SamriddhiYojana, let's talk about whether this is the best investment option for you. As you save tax by investing in this scheme, its comparison would be other tax saving options like PPF, 5-year FD, and ELSS Mutual Funds. Most of us invest in fixed deposits or PPF. In fixed deposits, you get returns of 5.5%to 7.5% but you have to pay tax on the returns. PPF is still getting 7.9% returns. Although in PPF returns, there is no tax like this scheme.

Also, ELSS Mutual Fund which means EquityLink Saving Scheme Mutual Fund is also an option. In this, you invest in the stock market and due to this, you can get higher returns, although the risk of ELSS Mutual Fund is slightly higher compared to Sukanya Samriddhi Scheme. So, as you saw, this scheme is a good plan for your daughter's future. However, the returns we get from this scheme may be less. For example, the fees of course like MBA and MBS today is around 20-30 lakhs. And this in the next 15-20 years can increase and reach between 80 lakh to 1.5 crore. Other than this, if your daughter wants to do a course abroad, the fees would be even higher. Even if you invest a maximum of 1.5 lakhs in the scheme every year, you will have around 73 lakhs rupees. If you want to avoid this situation, then you invest 50-50% in both ELSS Mutual Fund and Sukanya Samriddhi Yojana. ELSS Funds will give your money the growth potential of the stock market. 

The same investment in Sukanya Samriddhi Yojana will reduce your overall risk and bring stability in returns. Let's see how much difference will occur in your final corpus by investing 50-50%. If you invest Rs. 1.5 Lakh in Sukanya SmriddhiScheme every year for the next 15 years, then after 21 years you will get Rs. 73 lakhs. But if you invest 1.5 Lakh in 50-50 proportion in Sukanya Smriddhi Scheme and ELSS Mutual fund then your final investment value will be around Rs. 92 Lakhs. That is Rs. 20 Lakhs extra. Not only this, but the lock-in period of ELSS is also only 3 years, so you get a little more flexibility in withdrawing your money. 

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