Post Office Scheme: In this scheme of post office, you will get ₹ 70 lakh by depositing only 400 rupees, know how
Post Office Scheme: Numerous government programs administered by the post office have the potential to provide substantial profits without posing any maturity risk. However, it’s crucial to save well before investing. People often begin investing in Post Office savings plans with very little money, which prevents them from receiving a sizable sum. They may, however, make a healthy profit in the future if they begin investing with the appropriate sum.
We’re going to inform you about a post office program that may provide a significant amount of money for you and your family. Sukanya Samriddhi is the post office’s scheme. 8.2 percent interest is paid under this arrangement, which is also tax-free.
What is the annual maximum deposit amount?
You may start this plan in your daughter’s name and cover all of her costs, from school to marriage. In Sukanya Samriddhi, you may invest between Rs 250 and Rs 1.50 lakh every year. If your daughter is less than ten, you may establish this account for her. This allows up to two daughters from a single household to register. However, three girls’ accounts may be registered if there are twins.
Deposits may be put into it for a maximum of 15 years after the account was first opened. The account will fail and may only be reopened within 15 years if at least Rs 250 is not placed into it during any given fiscal year.
When is it possible to withdraw funds?
The account may be operated by the parents before the daughter reaches 18; however, funds can be taken out after the 18th year has passed or after the 10th. Both lump sum and installment withdrawals up to one per year are possible.
When will the completion of maturity occur?
Although contributions must be made for just 15 years, this account will mature 21 years from the date of inception. In addition, it may reach full maturity when the girl marries after turning 18.
Between Rs 400 and Rs 70 lakh!
You must initially save around Rs 400 each day, which equates to Rs 12500 per month, or Rs 1.5 lakh will be deposited in a year if you start this account in your daughter’s name and desire Rs 70 lakh when it matures. Now, when your daughter is five years old, begin putting Rs 1.5 lakh a year in it.
A total of Rs 69,27,578 will be placed in the daughter’s name at maturity, or after 21 years. Remember that you only need to contribute for a period of 15 years. In this case, the whole investment would be Rs 22,50,000, of which Rs 46,77,578 will be received from interest alone.