Sukanya Samriddhi Yojana (SSY) was launched, as a part of the "Beti Bachao Beti Padhao" campaign, with an objective to promote welfare of Girl Child. Sukanya Samriddhi Yojana is also a very good Tax Saving option for those who are eligible to open accounts under this scheme.
The SSY interest rate is notified by Central Government from time to time for all authorised banks and post offices. The current rate is 8.50% p.a. w.e.f. 01.10.2018. The SSY interest rates since launch of the scheme have been as under:
|Financial Year||Interest Rate||Financial Year||Interest Rate|
|Up to 31.03.2015||9.1% p.a.||01.04.2015 to 31.03.2016||9.2% p.a.|
|01.04.2016 to 30.09.2016||8.6% p.a.||01.10.2016 to 31.03.2017||8.5% p.a.|
|01.04.2017 to 30.06.2017||8.4% p.a.||01.07.2017 to 31.12.2017||8.3% p.a.|
|01.01.2018 to 30.09.2018||8.1% p.a.||01.10.2018 onwards||8.5 %|
The interest is payable on minimum balance available in the account from 10th to last day of month. The interest is applied on last day of the financial year and is compounded at yearly rests.
The investments under SSY upto prescribed limits are eligible for tax rebate under section 80C of Income Tax Act. The interest earned in SSY accounts is exempt from Income Tax.
SSY (Sukanya Samriddhi Yojana) is a No Risk investment scheme.
Use SSY (Sukanya Samriddhi Yojana) Calculators for all SSY calculations viz. calculation of estimated / actual Interest, Maturity Amount and Return on Investment for accounts opened since launch of the scheme in any authorised bank or Post Office. The calculators have updated interest rates upto 1st October 2018.
|Chart : Year-wise Growth in SSY Account|
|Presumptions made in calculations : View|
This calculator does not make any presumptions regarding date and month of opening of account and date and / or month of making investment. Therefore, the calculations are exact and accurate. Use this calculator to check and verify calculation of Interest and Yearly Balance of your SSY account for any year since 2014-15 on year to year basis. A click or tap on "Calculate for Next Year" button will automatically carry over the Closing Balance of this year as Opening Balance for the next year, change Financial Year and applicable Interest Rate(s).