Sukanya Samriddi Yojna

Sukanya Samriddi Yojna, How does it work? Benefits, Interest Rate

Sukanya Samriddi Yojna: Sukanya Samriddhi Yojana is a savings scheme of the Government of India, aimed at the betterment of the girl child in India. It has been launched to help parents build a corpus for their girl child’s higher education and other expenses. Sukanya Samriddhi Yojana, also known as SSY, is a deposit scheme specially designed for the girl child. This scheme was launched to ensure a financially secure future for the girl child. Through regular deposits, as the year’s roll by, you can build up a substantial corpus, which can later be used to meet your child’s life goals.

It is one of the many schemes launched by Prime Minister Narendra Modi under the Beti Bachao Beti Padhao scheme launched in the year 2015. ‘Dhanalakshmi Yojna’, and ‘Ladli Yojna’ are some other schemes launched.


In Hindi:

सुकन्या समृद्धि योजना भारत सरकार की एक बचत योजना है, जिसका उद्देश्य भारत में बालिकाओं की बेहतरी है। माता-पिता को अपनी बेटी की उच्च शिक्षा और अन्य खर्चों के लिए कोष बनाने में मदद करने के लिए इसे लॉन्च किया गया है। सुकन्या समृद्धि योजना, जिसे SSY के नाम से भी जाना जाता है, विशेष रूप से बालिकाओं के लिए बनाई गई एक जमा योजना है। यह योजना बालिकाओं के लिए आर्थिक रूप से सुरक्षित भविष्य सुनिश्चित करने के लिए शुरू की गई थी। नियमित डिपॉजिट के माध्यम से, जैसे-जैसे साल बीतता जाएगा, आप एक पर्याप्त कॉर्पस बना सकते हैं, जिसका उपयोग बाद में आपके बच्चे के जीवन के लक्ष्यों को पूरा करने के लिए किया जा सकता है।

यह वर्ष 2015 में शुरू की गई बेटी बचाओ बेटी पढाओ योजना के तहत प्रधान मंत्री नरेंद्र मोदी द्वारा शुरू की गई कई योजनाओं में से एक है। ‘धनलक्ष्मी योजना’, और ‘लाडली योजना’ कुछ अन्य योजनाएं शुरू की गई हैं।

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Sukanya Samriddhi Yojana- Interest Rates

The rate of interest you will get in your Sukanya Samriddhi Yojana account is currently 7.6% p.a. This interest rate is applicable from 1 April 2020. This is lower than the previous rate which was 8.4%. However, if you have deposited between 12th December 2019 to 31st March 2020 then you will earn 8.4% p.a.

  • Interest is payable to you annually
  • Interest is credited only at the end of each financial year
  • The interest rate is decided by the government and changes every quarter
  • No interest will be given if the girl child becomes NRI
Sukanya Samriddi Yojna

Here is a table that shows the interest rates offered by the SSY scheme since its inception:

April 2020 – Present7.6% p.a.
1 January 2019 – 31 March 20198.5% p.a.
1 October 2018 – 31 December 20188.5% p.a.
1 July 2018 – 30 September 20188.1% p.a.
1 April 2018 – 30 June 20188.1% p.a.
1 January 2018 – 31 March 20188.1% p.a.
1 July 2017 – 31 December 20178.3% p.a.
1 October 2016 – 31 December 20168.5% p.a.
1 July 2016 – 30 September 20168.6% p.a.
1 April 2016 – 30 June 20168.6% p.a.
1 April 2015 – March 31 20169.2% p.a.
3 December 2014 – March 31 20159.1% p.a.
Sukanya Samriddi Yojna

How does Sukanya Samriddhi Yojana account work?

As a parent, you can invest a minimum of Rs 1,000 and up to Rs 1.5 lakh every year in your daughter’s account under the Sukanya Samriddhi Yojana. These deposits can made only for the first 15 years after account opening, after which the amount in the account will grow with accumulated compound interest. The accumulated amount can help your daughter achieve her dreams of higher education, start a new venture or achieve other major goals in life.

Eligibility Criteria for Sukanya Samriddhi Yojana

The Government of India has made Sukanya Samriddhi Yojana accessible to all, and hence, you can open an account in any post office.

  • Only the parents or legal guardians of the girl child.
  • The age of the girl child should be less than 10 years at the time of opening the account. The account can open till the girl child turns 21.
  • The initial investment can start from ₹250 and can go up to a limit of ₹1,50,000 annually with current deposits in ₹100 products.
  • An individual girl child cannot have multiple Sukanya Samriddhi accounts.
  • Only two Sukanya Samriddhi Yojana accounts permit per family, i.e. one each.

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