Under Sukanya Samriddhi Yojana, interest rate of 8.2 percent is being given on the deposited amount. The government has not changed the interest rate for the April to June quarter. Let us tell you that the government takes a decision on the interest rate of this scheme every quarter.
Sukanya Samriddhi Yojana: If you invest in Sukanya Samriddhi Yojana (SSY) account for the secure future of your daughter, then this news is useful for you. Actually, for higher interest under this scheme, it is necessary to invest till Friday i.e. 5th April. If money is deposited in the account on or before April 5, the account holder will get higher returns on investment for the current financial year 2024-25. According to the rules of Sukanya Yojana, investments made before this date can bring more income to the SSY account holder. This will lead to more savings for the girl child in future.
How is the calculation done?
As per the rules of Sukanya Samriddhi Yojana, interest is calculated on the basis of the lowest balance in the SSY account between the 5th of every month and the end of the month. That’s why Sukanya Samriddhi investors making lump sum payment for the current financial year will have to do it before April 5 to maximize interest income. If you default, you will lose monthly interest on the annual deposit. If the date of deposit in SSY account is after 5th of every month then such deposit amount is not considered for interest calculation in that month.
Understand with example
Suppose an SSY account holder deposits Rs 1.5 lakh in the account on 20th April. The lowest balance between April 5 and April 30 will be considered for monthly interest calculations. Since the lowest balance will be what was in the account before deposit on April 20, that balance will be used for interest calculation. No interest will be given for April on the amount deposited on April 20. On the other hand, suppose the deposit in SSY account is made on or before April 5, then interest for the month of April will be given.
What is the interest rate
Under Sukanya Samriddhi Yojana, interest rate of 8.2 percent is being given on the deposited amount. The government has not changed the interest rate for the April to June quarter. Let us tell you that the government takes a decision on the interest rate of this scheme every quarter. Under this scheme, a parent can open accounts for maximum 2 daughters. Under the scheme, an account can be opened even with a nominal investment of Rs 250. This is a tax benefit scheme.
