SSY aka Sukanya Samriddhi Yojana was started on 22nd Jan 2015 as a part of “Beti Padhao, Beti Bachao” campaign. SSY is a savings scheme started by GOI to provide financial security to a girl child.
This scheme encourages parents to build a fund for a girl child to meet their educational and marriage expenses etc.
List of Topic Covered
- The government has increased the interest rates on small savings schemes by up to 70 basis points for the April-June 2023 quarter. (1 percentage point = 100 basis points).
- Therefor Sukanya Samriddhi Yojana (SSY) interest rate has increased to 8.0 % for April 1 2023 till June 2023.
Sukanya Samriddhi Yojana (SSY) Interest Rate Historical Data
|Financial Year||Date||Interest Rate||Minimum Investment||Maximum Investment|
|2023-24||01-Apr-2023 to 30-June-2023||8.0%||₹ 250||₹ 1,50,000|
|2022-23||01-Apr-2022 to 31-Mar-2023||7.6%||₹ 250||₹ 1,50,000|
|2021-22||01-Apr-2022 to 31-Mar-2022||7.6%||₹ 250||₹ 1,50,000|
|2020-21||01-Apr-2020 to 31-Mar-2021||7.6%||₹ 250||₹ 1,50,000|
|2019-20||01-Jul-2019 to 31-Mar-2020||8.4%||₹ 250||₹ 1,50,000|
|2019-20||01-Apr-2019 to 30-Jun-2019||8.5%||₹ 250||₹ 1,50,000|
|2018-19||01-Oct-2018 to 31-Mar-2019||8.5%||₹ 250||₹ 1,50,000|
|2018-19||01-Apr-2018 to 30-Sep-2018||8.1%||₹ 250||₹ 1,50,000|
|2017-18||01-Jan-2018 to 31-Mar-2018||8.1%||₹ 1,000||₹ 1,50,000|
|2017-18||01-Jul-2017 to 31-Dec-2017||8.3%||₹ 1,000||₹ 1,50,000|
|2017-18||01-Apr-2017 to 30-Jun-2017||8.4%||₹ 1,000||₹ 1,50,000|
|2016-17||01-Oct-2016 to 31-Mar-2017||8.5%||₹ 1,000||₹ 1,50,000|
|2016-17||01-Apr-2016 to 30-Sep-2016||8.6%||₹ 1,000||₹ 1,50,000|
|2015-16||01-Apr-2015 to 31-Mar-2016||9.2%||₹ 1,000||₹ 1,50,000|
|2014-15||01-Apr-2014 to 31-Mar-2015||9.1%||₹ 1,000||₹ 1,50,000|
- The government has increased the interest rates for small savings schemes by up to 70 basis points for the April-June 2023 quarter. (1 percentage point = 100 basis points). Therefor Sukanya Samriddhi Yojana interest rate has increased to 8.0 % for April 1, 2023 till June 30, 2023.
- Sukanya Samriddhi Yojana (SSY) will continue to yield 7.6 % interest rate in April to June 2022 quarter.
- SSY will yield an annual return of 7.6% for March quarter (Dec 30, 2022)
Read Sukanya Samriddhi Yojana Review in Detail.
SSY Interest Rate FAQs
Sukanya Samriddhi Yojana is a savings scheme specifically designed to provide financial security to a girl child. This scheme was launched under the campaign called Beti Padhao Beti Bachao.
SSY interest rate is calculated on a monthly basis but deposited to your account at the end of the financial year.
Interest is calculated between the 5th and last day of a month. Therefore it is always advisable to invest in Sukanya Samriddhi Yojana on or before 5th day of every month to get maximum returns.
Parents or legal guardians can open a SSY account on behalf of their girl child.
Only one account per girl child is allowed.
Investments made in the SSY scheme are eligible for the tax benefits under section 80 C (Max 1.5 Lakhs). Accumulated interest is also tax free under section 10 of Income Tax. Maturity Amount is also tax free.
You have to pay premiums for 15 years under SSY.
The maturity period of SSY is 21 years.
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