New great scheme: 50 lakh rupees will be available for saving 300 rupees every day, know full details
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New Government Scheme: You can earn up to Rs 50 lakh by saving Rs 300 in a government scheme. In this, the interest rate is 8 percent and the benefit of tax exemption is also available.
With the help of the central government scheme Sukanya Samriddhi Yojana, you can accumulate a huge corpus to meet the future financial needs of your daughter. The scheme allows parents to open a maximum of two accounts per family in the name of two girls aged one year to less than 10 years. Whereas, in case of twins, investments can be made for more than three children.
Currently, under the Sukanya Samriddhi Yojana, the account is getting 8 percent interest and a maximum of Rs 1.5 lakh can be invested in an account in a year. Interest is given on the basis of annual compounding on the amount deposited in Sukanya Samriddhi account. It matures after 21 years from the date of opening the account. Investment can be made till the completion of 15 years after opening the account.
How much money can be saved from SSY account?
The Sukanya Samriddhi Yojana calculator shows that by depositing a maximum of Rs 1.5 lakh every year in the SSY account, parents can save up to Rs 67.3 lakh. It can be withdrawn at maturity assuming 8% interest. Suppose if you open SSY in 2023 and invest Rs 1.5 lakh every year at 8% interest till the completion of 15 years, you will get Rs 67.3 lakh on maturity.
Significantly, if the amount of interest increases, then the amount will increase, but if the amount of interest decreases, then its effect can be seen on the amount.
How much should be saved for Rs 50 lakh?
Under Sukanya Samriddhi Yojana, if you deposit Rs 1,11,370 every year, you will get Rs 50 lakh on maturity. This means you will have to save Rs 305.1 per day. However, the interest rate under this scheme should be only 8 percent.
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