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Your daughter could get ₹69L, tax free!

There is a government investment scheme that currently gives 8.2% guaranteed, plus a tax deduction, and is totally tax free on maturity.

It's the Sukanya Samriddhi Yojana (SSY).

If you have a girl child, you can't miss this 👇🏽

1. The current INTEREST RATE is 8.2% per year. In comparison HDFC is currently offering just 6.6% for a 1 year FD.
2. The amount you invest in SSY qualifies for a TAX DEDUCTION under section 80C. If you maximise this at 1.5L per year, that could save you up to ₹46.8k per year of income tax.
3. The interest you earn is totally TAX FREE. In an FD, the interest earned is taxed at your income tax slab rate.
4. The amount you invest is FLEXIBLE. You can start with just ₹250, or you can maximize it with ₹1.5L.
5. You can open the account anytime before the child turns 10, and can save money in it for a maximum of 15 years.

As a father of two girls, I love this. And what's not to love, I think the more financial power that girls get, the better it is for all of us 🙂

EXAMPLE
Girl's age: 1 year
Yearly investment: ₹1.5L
Current interest rate: 8.2%
Start year: 2024
Maturity year: 2045
Maturity value: ₹69.27L (read caveat below)

Totally tax free!!!

#investing #investingindia #personalfinance #personalfinanceindia 