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Sukanya Samriddhi Yojana Interest Rate: Overview & Calculation Process

What Is Sukanya Samriddhi Yojana?

What Are the Documents Required While Applying to Sukanya Samriddhi Yojana?

What Is the Interest Rate of Sukanya Samriddhi Yojana?

Launched in 2014, Sukanya Samriddhi Yojana is a supporting scheme for the girl children of India. For better financial help, the interest rate of Sukanya Samriddhi Yojana gets revised after every quarter. The girls get a compounded interest yearly. The following table will show the interest rates for different years from the start to the last financial year.

Year

Interest Rate

From 1 April 2014

9.10%

From 1 April 2015

9.20%

1 April 2016 – 30 June 2016

8.60%

1 July 2016 – 30 September 2016

8.60%

1 October 2016 – 31 December 2016

8.50%

1 January 2017 – 31 March 2017

8.50%

1 April 2017 – 30 June 2017

8.40%

1 July 2017 – 31 September 2017

8.30%

1 October 2017- 31 December 2017

8.30%

1 January 2018 – 31 March 2018

8.50%

1 April 2018 – 30 June 2018

8.10%

1 July 2018 – 30 September 2018

8.10%

1 October 2018 – 31 December 2018

8.50%

1 January 2019 – 31 March 2019

8.50%

1 April 2019 – 30 June 2019

8.50%

1 January 2020 – 31 March 2020

8.4%

1 April 2020 – 31 December 2023

7.6%

1 January 2024 - 31 March 2024

8.2%

The interest rates of Sukanya Samriddhi Yojana are the most attractive among other saving schemes. This is because the government wants to encourage the parents to save money for the girl child. Therefore, this scheme is one of the most advantageous and secured accounts for the girl child.

Sukanya Samriddhi Yojana Interest Rate Calculator

Deposit Each Year for 21 Years Interest Earned (as Per the Current Rate @8.2%) (Approx.) Year-end Balance (Approx.)
₹ 50,000 ₹ 4,100 ₹ 54,100
₹ 50,000 ₹ 8,536 ₹ 1,12,636
₹ 50,000 ₹ 13,336 ₹ 1,75,972
₹ 50,000 ₹ 18,530 ₹ 2,44,502
₹ 50,000 ₹ 24,149 ₹ 3,18,651
₹ 50,000 ₹ 30,229 ₹ 3,98,881
₹ 50,000 ₹ 36,808 ₹ 4,85,689
₹ 50,000 ₹ 43,926 ₹ 5,79,615
₹ 50,000 ₹ 51,628 ₹ 6,81,244
₹ 50,000 ₹ 59,962 ₹ 7,91,206
₹ 50,000 ₹ 68,979 ₹ 9,10,185
₹ 50,000 ₹ 78,735 ₹ 10,38,920
₹ 50,000 ₹ 89,291 ₹ 11,78,211
₹ 50,000 ₹ 1,00,713 ₹ 13,28,925
₹ 50,000 ₹ 1,13,072 ₹ 14,91,996
₹ 0 ₹ 1,22,344 ₹ 16,14,340
₹ 0 ₹ 1,32,376 ₹ 17,46,716
₹ 0 ₹ 1,43,231 ₹ 18,89,947
₹ 0 ₹ 1,54,976 ₹ 20,44,922
₹ 0 ₹ 1,67,684 ₹ 22,12,606
₹ 0 ₹ 1,81,434 ₹ 23,94,040

Therefore, if you are thinking of opening an account and wondering about the calculation, then you can take help from Sukanya Samriddhi Yojana Calculator. The calculator effectively counts the interest with SSY's current interest rate within seconds. It gives an estimated total amount per financial year based on your deposit.

Thus, you can understand how much you can save for your girl child or how much is needed for her. Lastly, it is very convenient for everyone.

Parents need to give special attention to their daughter’s higher education and health to help them succeed. In addition, there is also the matter of marriage to consider. Therefore, to manage all these expenses, parents need to plan and save money beforehand.

In this regard, Sukanya Samriddhi Yojana’s interest rate can add up more on top of these savings and give a lump sum at the end of a certain period of time. Therefore, choosing the scheme can be an effective decision for the future of the girl child.

FAQs About Sukanya Samriddhi Yojana Interest Rate