All it took for inspiration to develop a painless injection was a mosquito bite. Yes, a mosquito uses a unique method to deliver a painless bite and researchers at IIT Kharagpur wondered if they could make an injection that mimicked the mechanical action involved. While most of us think that a mosquito bite hurts, in reality, the irritation is due to chemicals in its saliva. After three years of research, IIT-Kgp, along with the Tokai University of Japan, has invented this novel injection that uses a microneedle to extract blood or deliver drug painlessly by using the same suction-based pressure that a female mosquito uses to suck blood. The diameter of the needle is just 30 micro metre. Besides others, this injection will especially benefit diabetes mellitus patients as blood tests are critical for its diagnosis and management. These patients have to check their blood gl...
What is Sukanya Samriddhi Yojana Account?
Sukanya Samriddhi Yojana account is a government backed savings scheme for the benefit of the girl children's.
Who can open Sukanya Samriddhi Account?
It can be opened by the parents/guardian of a girl child below the age of 10.
How many account can be open under Sukanya Samriddhi Yojana?
Parents/guardian can open up to two such accounts for girl children's. If they have more than two girl children's, third account is not allowed.
What is the Lock-in period for Sukanya Samriddhi Account?
These accounts have Lock-in period of 21 years or until the girl child marries after the age of 18.
What is the return expected in Sukanya Samriddhi Account?
8.5% (Q4 FY 2018-19)
About Sukanya Samriddhi Account
| Criteria | Value |
|---|---|
| Interest | 8-9% (Guaranteed) |
| Rate of Return (Appx) | 8.5% |
| Lock-in period | 18(Girl Age Upto) / 21 (Years) |
| Account Holder | Girl Child only. |
| Account Opening Restriction | Parents or legal guardian of a girl child is allowed to open two accounts for maximum two girls. One can open a third account in the name of a girl child in a scenario birth of twin girls, as a second birth, or if the first birth itself results into three girl children. |
| Maximum Account Opening Age | 10 |
| Risk Percentage | Zero |
| Place of Purchase | Bank / Post Office |
| Tax On Return | Tax Free |
| Investment Mode | One Time Investment / Installments |
| Loan Against | Not Available |
| Minimum Investment (PA) | ₹ 1000 |
| Maximum Investment (PA) | ₹ 1.5 lakhs |
| Tax Exemption (PA) | ₹ 1.5 lakhs |
| Premature Withdrawal | Partial withdrawal up to 50% of account balance can be claimed, once the account holder turns 18. In case of higher education and marriage. |
Pros of Sukanya Samriddhi Account:
- Minimum contribution of ₹ 1000 per year.
- Contributions up to ₹ 1.5 lakh per annum are tax free.
- Returns are guaranteed and more as compared to other investments like FD, PPF and Life Insurance.
- 50% withdrawal is allowed when the account holder turns 18.
Cons of Sukanya Samriddhi Account:
- The lock-in period is very high (21 years).
- Returns lower as compared to market linked schemes like ELSS.
- If the girls age is above 10 years can't open the account.
- Up to 2 accounts allowed for the girl children's, third account is not allowed.
Sukanya Samriddhi Account Return
Invest ₹ 1000 Per Month. 8.5% Interest.
| Years | Invested Amount | Maturity Amount |
|---|---|---|
| 1 Years | 12000 | 12559 |
| 3 Years | 36000 | 41010 |
| 5 Years | 60000 | 74565 |
| 10 Years | 120000 | 187203 |
| 14 Years | 168000 | 317491 |
| 21 Years | 168000 | 565640 |
Invest ₹ 12500 Per Month. 8.5% Interest.
In 21 Years guaranteed returns will be more than ₹ 70.7 lakhs. Under 80C tax saving options, third highest returns possible after PPF will be Sukanya Samriddhi.
| Years | Invested Amount | Maturity Amount |
|---|---|---|
| 1 Years | 150000 | 156987 |
| 3 Years | 450000 | 512626 |
| 5 Years | 750000 | 932065 |
| 10 Years | 1500000 | 2340042 |
| 14 Years | 2100000 | 3968640 |
| 21 Years | 2100000 | 7070506 |
Returns on ₹ 1000 and ₹ 12500 Per Month
| Years | ₹ 1000 Invested | ₹ 1000 Maturity | ₹ 12500 Invested | ₹ 12500 Maturity |
|---|---|---|---|---|
| 1 Years | 12000 | 12559 | 150000 | 156987 |
| 3 Years | 36000 | 41010 | 450000 | 512626 |
| 5 Years | 60000 | 74565 | 750000 | 932065 |
| 10 Years | 120000 | 187203 | 1500000 | 2340042 |
| 14 Years | 168000 | 317491 | 2100000 | 3968640 |
| 21 Years | 168000 | 565640 | 2100000 | 7070506 |
Conclusion
Now you have the understanding of Sukanya Samriddhi Account. You can choose the best range of investment which will fit for you. You can leave the comments if you have any queries. Thank you so much for reading and have a great day.
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