The government has not changed the interest rates on Sukanya Samriddhi Yojana and other small savings schemes for the third quarter (October-December) of the current financial year 2024-25.
In this way, the government has not changed the interest rates for three consecutive quarters. The last time the rates of some schemes were changed was for the fourth quarter of the financial year 2023-24.
According to the notification, the deposit amount under Sukanya Samriddhi Yojana will get interest at the rate of 8.2 percent as before. The government issues notification of interest rates every quarter for these schemes run by post offices and banks.
What is Sukanya Samriddhi Yojana
Any citizen of India can open a Sukanya Samriddhi Yojana saving account in the name of his or her daughter. To be eligible for this scheme, the daughter should be between 0 to 10 years of age. Saving Scheme pays interest at the rate of 8.2 percent in this scheme.
In this, a minimum of ₹ 250 and a maximum of ₹ 1.5 lakh can be deposited annually. Investment can be made for a total of 15 years, after which the entire amount will be available on maturity after completion of 21 years.
Tax exemption is available on investment, interest, and principal made in Sukanya Samriddhi Yojana.
Make such a big fund by investing Rs 10,000 every month
Suppose your daughter is 5 years old and you invest Rs 10,000 in Sukanya Samriddhi Yojana every month. According to this situation, you need to invest Rs 1.2 lakh yearly.
At present an interest rate of 8.2 percent per year, a large amount of fund of Rs 55.61 lakh will be deposited after the 21 years. The amount invested in this SSY scheme will be Rs 17.93 lakh, while the total interest will be Rs 37.68 lakh given.
Advantages of Sukanya Samriddhi Yojana
High interest rate: The interest rate available in this scheme is quite good compared to other savings schemes.
Tax Benefits: Tax exemption is available on investment, interest, and amount received on maturity.
Safe investment for girls’ future: This scheme is a safe investment option for the future of girls.
Government scheme: This is a government scheme, so investment in it is considered safe.
If you want to secure your daughter’s future, then Sukanya Samriddhi Yojana is a good option.