सुकन्या समृद्धि योजना से 75 लाख? - बिना किसी टैक्स के? - YouTube

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Namaskar, my name is Mukul, and welcome to Asset Yogi.

In this video, we are going to talk about Sukanya Samriddhi Account.

Many of you have requested me to make a detailed video on this.

We'll talk about all the features in this video.

What are the benefits and what are its limitations?

The biggest benefit is that you get tax benefits under section 80 C.

And 2nd, you get high interest rates

You get interest more than all your Debt Saving Schemes like PPF, EPF.

Now definitely only those people can invest here who have a girl child.

If if you have a girl child and you want to invest in the debt instrument

Then this can be a very good option for you.

Now if you can take risks and invest in the stock market

As we discussed in our last video about ELSS schemes

So watch that video also because you can get better returns in that

But if you want to allocate some portion where you want to save tax and get good interest rates also

This can be a really good scheme for you.

So we'll try to answer all the questions related to Sukanya Samriddhi Scheme.

Like who can invest in this?

What can be the minimum and maximum investment in a year?

How can you withdraw from this and whether you can do it or not?

How closure is done? When does maturity occur?

So stay tuned in this video.

First of all, let's talk about account opening.

For whom this account can be opened?

So this account can be opened for any Indian resident girl child.

You can't open it if you are an NRI.

The age of your girl child should be between 0-10 years.

If more than that, then you cannot open an account in that case.

You can open this account in any post office or authorized bank

It's can be opened in all the popular banks like SBI, ICICI, AXIS BANK.

So you can open in any of those.

And if you shift from your location in India

Let's say from Delhi to Bombay, then you can transfer this account

If you opened an account in any post office and want to transfer it to a bank

then that is also possible.

Secondly, keep in mind that you can open only one account per one girl child

And maximum of 2 accounts can be opened in a family for 2 girl children.

There are some exceptions in this,

Accounts can be opened for 3 girl children also but only in case if

you had twins in the second birth or triplets in the first birth.

In these cases, 3 accounts can be opened.

And this account can be opened with Rs. 250. Earlier it used to be Rs. 1000 but not anymore.

For opening an account, you need normal documents like

the birth certificate of your daughter, address and id proof,

You need to fill a form and some photographs.

So this was the account opening part, now let's talk about investments.

The minimum amount which you have to deposit per year is Rs. 250 and the maximum can be Rs. 1.5 lakhs.

The question arises that should we deposit the same amount every month

or can we deposit a single amount in a year.

No! There's no such limit and you can deposit Rs. 1.5 lakhs anytime in any number of portions.

Now let's discuss deposit and maturity periods.

So the deposit period is 14 years from the date of opening of the account.

That means, if you opened an account in 2019, then you can deposit money till 2033.

You can invest up to Rs. 1.5 lakhs each year.

I'll show you how this calculation can be done

And will provide a calculator to you. You can download it.

And second, its maturity occurs 21 years from the date of opening of the account.

So many people get confused between maturity and deposit period.

People think that they can invest till their daughter reaches the age of 14 years old

And they have to withdraw when she reaches the age of 21 years old.

It's not like that.

If your daughter's age is 5, then from here you have to count 14 years.

So 5+14, that means you can invest till she's 19 years old

And 5+21, That means you'll get that amount when she's 26 years old.

Now let's talk about interest.

Here, you get interest more than PPF.

PPF means Public Provident Funds.

In today's date, the interest rate in PPF is 8% whereas, in Sukanya Samriddhi Scheme, it's 8.5%.

So you can assume that you'll get 0.5% more interest than PPF.

And since it changes quarterly,

So in each quarter, the government decides the interest rates for all schemes.

And the compounding of interest rate happens annually and you don't get any interest after its maturity

So as it reaches maturity, you should withdraw your money after 21 years

And then you can invest that money somewhere else for your daughter.

Now let's talk about tax benefits.

It comes under the Exempt Exempt Exempt (EEE) category.

So that means you get a rebate on the invested amount under section 80C.

Secondly, there's no tax on the interest you earned.

So no tax on the interest of investment during the time.

And no tax on the final withdrawn corpus amount as well.

Now because there are tax benefits and good interest rates here,

I would say that this will give the best returns among all the debt instruments.

Now let's talk about the withdrawal of money.

You can withdraw money only in 2 cases.

1. Higher education of your girl child.

That means when she's going to college and she reached the age of 18 years.

The minimum age should be 18 years then only you can withdraw money.

So we discussed about higher education

Now 2nd case is Marriage.

Now if you want to withdraw from higher education,

so you can withdraw up to 50% of the total corpus formed

Let's say you want to withdraw at the age of 18 years,

So the total amount in the previous financial year

Let's say Rs. 10 lakhs, so you can withdraw 50% of it, that means Rs. 5 lakhs

But in the case of marriage, you have to close this account.

If the maturity of 21 years is not completed and your daughter is married before that,

Then you need to close the account and you'll get all the money.

So ultimately this is the purpose of this account.

It promotes the higher education of girl child and helps at the time of marriage.

And that's why this scheme was created.

Now many people ask that if they want to close this account in between then is it possible?

See, generally it's not possible.

You can only close this account in 2-3 cases.

1. In the unfortunate case of death of the girl child.

2. Emergency in the family such as life-threatening disease to girl child

3. If the status of the girl child changes to NRI or her citizenship changes to another country.

But in reality, these cases are rare so you can assume that you cannot withdraw this amount.

Many people say that we cannot afford this much and cannot deposit this much amount

So in that case, you can stop your investments

and you can deposit the minimum amount which is Rs. 250

It's not much amount so you can deposit that

At least you'll get the benefit of interest otherwise you get interest of only a savings account.

So keep depositing the minimum amount every year.

And if by chance, you didn't deposit money for a few years,

In that case, your account will be deactivated and you'll only get interest of the savings account.

But if you want to revive it, it can be done by paying Rs. 50 as the penalty

Plus all your arrears

Whatever were your years of default. Let's say 5

So 5×250 + 50 penalty is what you need to pay and revive this account.

Besides this, the question arises that if the age of the daughter is

above 10 years then can we invest in this scheme?

See you cannot invest in this scheme but this is not the only scheme for investment

You have many other instruments like you can invest in equity, we discussed ELSS.

There also you get tax benefits with good returns.

You can invest in PPF, National Saving Certificate, FD's.

There are many options for investing so analyze what will be suitable for you.

Let's quickly see the calculations that how much money can we get with how much investment?

And how to use the calculator which I'll also give you for download.

So I created this calculator for Sukanya Samriddhi Scheme.

Let's see how to use and interpret it.

You can change inputs in all these yellow cells

First of all, you have to change the interest rate whatever it's for now

Currently, it is 8.5% so I took that.

After that, you can type how much will you invest each year.

Not monthly, here you need to type annual investment.

So let's say if you want to invest Rs. 1000 every month in this

So you'll invest Rs. 12000 each year and since you're going to invest it for 14 years

so I took Rs. 12000 as the investment for the next 14 years.

So your total investment in 21 years will be Rs. 1,80,000.

And the total amount you'll get at the end of 21 years will be around Rs. 6 lakhs.

Now you can also change it

If you want to invest maximum each year that means Rs. 1.5 lakhs per year

Then you can change that too.

Now if I type Rs. 1.5 lakhs investment for 14 years

Then the total investment is Rs. 22.5 lakhs and

the total corpus formed at the end of 21 years will be Rs. 75 lakhs.

So you can use this amount for your daughter's studies or her marriage.

Now I only took 2 examples here

Rs. 1000 per month and Rs. 1.5 lakhs per year

You can change it if you want.

Let's say you invested Rs. 50,000 in any year,

next year you invested Rs. 1,00,000 and Rs. 10,000 only in some other year

So you can change every year's amount according to you.

So we also saw the calculations that how much amount

can we get on how much investment at the time of maturity.

Now as I told yo before, this is not the only way of investing.

So you can also invest in the stock market,

there are other options in equity such as mutual funds, ELSS.

In debt instruments, you can invest in PPF, NSC, FD there are many options.

And if you want, you can directly invest in the stock market.

We made many videos on that.

How to open a D-mat account, how to operate it?

You'll get the links to these videos in the description.

You'll also get many resources in the description.

So that's it for this video

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with your friends and family members

Maybe they also have a girl child and they can also take benefit of the information in this video.

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So we'll meet in another financial informative video.

Till then keep learning, keep earning, and as always, stay happy.