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If you are also the father of a daughter and want to make a safe and secure investment for your daughter’s future, then you can invest in Sukanya Samriddhi Yojana. The Central Government had started this scheme (SSY) for daughters. Under this scheme, you can easily make your daughter a millionaire at the age of 21 by making a small investment along with the birth of your daughter. Let us know about this scheme in detail.

What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana will take care of your daughter’s education till marriage. If your daughter is below 10 years then you can open her account in your name. After the daughter turns 18, you can withdraw half the amount under this scheme. And on completion of 21 years, you can withdraw the entire amount. That is, you can use it for your daughter’s higher education.

How to open an account?
Under Sukanya Samriddhi Yojana, you can open an account at the post office. In this scheme, you can deposit from Rs 250 to Rs 1.50 lakh. To open this account, you must have the birth certificate and Aadhaar card of the girl child. Along with this, the address proof of the parents of the girl child such as an Aadhaar, passport, or PAN card is necessary.

Interest rate
The government revises the interest of these small schemes every three months. The government has increased the interest rate for the April-June quarter. For the first quarter of FY 2024, the interest has increased by 40 bps. Earlier it was getting interest at the rate of 7.60 percent whereas now it is getting interest at the rate of 8 percent. That is, now by investing in this scheme, you will get more profit than before.