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New Delhi. Recently, the government has announced no change in 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 quarters. Last time the rates of some schemes were changed for the fourth quarter of the financial year 2023-24.
According to the notification, interest on deposits under Sukanya Samriddhi Yojana will continue to be 8.2 percent as before. The government notifies interest rates every quarter for these schemes run by post offices and banks.
Sukanya Samriddhi Yojana
Any Indian citizen can open a Sukanya Samriddhi Yojana account in the name of his daughter. To be eligible for this scheme, the daughter's age should be between 0 to 10 years. It pays interest at the rate of 8.2 percent. In this, an annual deposit of ₹ 250 and a maximum of ₹ 1.5 lakh per year can be made. You can invest for a total of 15 years, after which the entire amount will be given on maturity after completion of 21 years. Investment, interest, and principal amount made in Sukanya Samriddhi Yojana are tax exempt.
You can accumulate this much funds by investing Rs 10,000 every month.
Suppose your daughter is 5 years old and you invest Rs 10,000 every month in Sukanya Samriddhi Yojana. According to this, you invest Rs 1.2 lakh annually. At an interest rate of 8.2 percent per annum, a huge fund of Rs 55.61 lakh will be accumulated after 21 years. The amount invested in this will be Rs 17.93 lakh, while the interest will be Rs 37.68 lakh.
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