Interest Rates in Sukanya Samriddhi Account (SSA)

 

Interest Rates in Sukanya Samriddhi Yojana (SSA) FY 2018-19 AY 2019-20 is 8.1% (Updated on 4th April 2018)

Are you planning to secure your girl child’s future?  Are you thinking over investing in PPF or fixed deposits to make sure the money saved for your daughter grows securely over a period of time and matured when she is ready for either marriage or higher education?  Well, if the financial future of your girl child is a concern for you, Sukanya Samriddhi Scheme would be best suited for you and your girl child

Interest Rates in Sukanya Samriddhi Account Yojana

Interest rates in Sukanya Samriddhi Yojana

The government has made rate of interest in this scheme lucrative enough for parents and guardians to pour in more and more money for the security of their girl child.  The interest rate for SSA for the current year 2017-18 is set to be 8.1% compounded yearly.  This happens to be the best interest rates among other saving schemes including PPF. Please read this for SSA Vs PPF

When a guardian or parent is getting such a decent interest rate on Sukanya Samriddhi account and EEE tax exemption under 80C, they are more likely to invest more money into the account.

No other investment or deposit scheme in India offers such a high rate of interest along with tax exemption and security for the girl child.

This rate of interest is however not permanent and would keep changing every fiscal year based on the economic factors.  However, considering the noble intent of the scheme, we are sure that it would continue to fetch higher interest rates than other saving schemes.

SSA Interest Rate change Chart

Sno FY AY Interest Rate Min Amount Rs Limit Max Amount Rs Limit
1 2018-19 (Q1) 2019-20 (Q1) 8.1 Rs 1000 Rs 1.5 Lakhs
1 2017-18 (Q4) 2018-19 (Q4) 8.1 Rs 1000 Rs 1.5 Lakhs
1 2017-18 (Q3) 2018-19 (Q3) 8.3 Rs 1000 Rs 1.5 Lakhs
1 2017-18 (Q2) 2018-19 (Q2) 8.3 Rs 1000 Rs 1.5 Lakhs
2 2017-18 (Q1) 2018-18 (Q1) 8.4 Rs 1000 Rs 1.5 Lakhs
3 2016-17 (Q4) 2017-18 (Q4) 8.5 Rs 1000 Rs 1.5 Lakhs
4 2016-17 (Q2) 2017-18 (Q2) 8.6 Rs 1000 Rs 1.5 Lakhs
5 2016-17 (Q1) 2017-18 (Q1) 8.6 Rs 1000 Rs 1.5 Lakhs
6 2015-16 2016-17 9.2 Rs 1000 Rs 1.5 Lakhs
7 2014-15 2015-16 9.1 Rs 1000 Rs 1.5 Lakhs

Comparison with PPF with Sukanya Samriddhi Account

The higher rate of interest being offered in SSA makes it a preferred choice while comparing it with PPF.  The interest rate under the scheme is moreover linked with government bond yield.  The SSA would give 50 basis points greater than the yield for 10 year government bonds.

Other benefits along with higher interest rates in Sukanya Samriddhi Account

  • Complete EEE tax benefits under 80C
  • Account is transferrable anywhere in India
  • The minimum amount to be deposited every year quite low, i.e. Rs 1,000 per year
  • The girl child can operate the account after 10 years
  • The girl child to get the proceeds on maturity of the account

Till now, there has been no other scheme which offers the dual benefits of growth as well as financial security along with creating an awareness wherein the girl child is no more a burden on parents and guardians.  The Sukanya Samriddhi Yojana, we hope will go a long way in creating better life for the girl child in India.

Other Important Articles to Read

  1. Advantages of Sukanya Samriddhi Yojana
  2. Withdrawl Rules of Sukanya Samriddhi Yojana

  14 Responses to “Interest Rates in Sukanya Samriddhi Account (SSA)”

  1. Dears,

    The rate of interest is year by year going down. when govt propose the SSY plan , Rate of interest is 9.1.now it is 8.1.

    we havent seen additional benefits compared to other financial plans. Might be coming years, the rate of interest might be 6, 5 ,4….etc. Requesting to mr’ PM sir, please focus on thease plans and support the baby girls in future.

    If continue the same, people will loose the interest these type of plans.

    Regards,
    sathish

    • Am also depositing 1.5 lakh every year, but nowdays felt as GREAT CHEATING by our PM as interest rate is GOING DOWN quarter by quarter eventhough they can say many reason, but now just as cheating

  2. ya.. correct. the importance of girl child is decreasing day by day

  3. I agree with the above mentioned point. Government starts a plan with flying colours and we people fall in for the promises given then the Govt. loses its focus on the plan and the interest rate is going down and down.

    May in few years it will become like a savings account without withdrawal facility during lock in period.

    Then what is the point of investing in Govt. schemes.

    Even the bank employees do not encourage customers to put bulk amount the this scheme.

    If Govt. and authorities pay attention it may improve.

    Thank you,
    Siva Dhanam

  4. Mr PM Sir you are playing with middle class girls and families.You proposed this plan for child benefit but what us going on now.please look into it we are loosing interest to deposit more in this plan.

  5. Whether interest rate varied on existing account

  6. Respected P.M. Sir

    Please Increase the rate of Interest for the betterment of Girl child.

  7. Yes, you are correct. It is going down and down and down…..please help the middle class.

  8. The girls will be the future for our any nations, need to support them. Government should understand and
    and give more considerations for them

  9. Dear PM Sir,

    Requesting to focus on interest rate. When SSY started , the interest rate was 9.1 and now in 2018 , the interest is reduced to 8.1. May be in future ,there is a chance to reduce further. Please don’t reduce the interest rate due to lot of peoples are investing money for their daughters. Please consider this point

  10. It is better that invest money in other private bank account with 8% interest rate for long term period
    so goverment will wake up to increase rate of interest of SSA.cause govmt is going to reduce year by year and will be equal to FD rate

  11. this is very ridiculous. people are kept in disguise. the rate of interest of SSA has substantially decreased. please keep your word and increase the interest for SSA

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