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An investment of Rs.4 thousand will grow to Rs.22 lakh at maturity; Do you know this scheme?

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An investment of Rs.4 thousand will grow to Rs.22 lakh at maturity; Do you know this scheme?


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TezzBuzz Staff by TezzBuzz Staff
July 20, 2024
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An investment of Rs.4 thousand will grow to Rs.22 lakh at maturity; Do you know this scheme?

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Investing in Sukanya Samriti Yojana can earn you a return of 8.2% interest rate. The specialty of this scheme is that due to long term investment, a good fund can be generated. In this scheme girl child can open account only before 10 years of age.
Saving Rs.4 thousand every month in this plan will give you a good return. Suppose you start investing in 2024 and your daughter turns 5 years old.
The maturity of the account is 21 years, which means if you start investing in 2024, you can get strong returns in 2045.

If you save Rs.4,000 every month, you can invest Rs.48,000 in a year. Money should be deposited in the account for 15 years. As per calculation, this investment has to be done by 2042. By doing this you will have invested Rs.7 lakh 20 thousand in Sukanya Samriti Yojana.
Let's say that after 21 years i.e. 2045, at the time of maturity, you can get only 15 lakhs 14 thousand as interest. That means you can get ₹ 15.14 lakh interest on an investment of ₹ 7.20 lakh. It is to be noted that at the time of maturity, a total of 22 lakh 34 thousand rupees will be available including the investment amount and the interest amount.

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