Sukanya Samriddhi Yojana Calculator – The government of India has announced new interest rates for Small Savings Schemes for the first quarter of the financial year 2023-24. Basically, the government announced the interest rates for these small savings schemes, with the most significant increase in the interest rate being Sukanya Samriddhi Yojana. The interest rate on this Sukanya Samriddhi Yojana has increased from 7.60% to 8% for the first quarter of the financial year 2023-24. However, this interest rate changes quarterly. But if you start investing money in this SSY account after the birth of your daughter, you can expect an 8% annual interest return at the time of maturity.
Sukanya Samriddhi Yojana Overview
| Scheme Name | Sukanya Samriddhi Yojana (Under Beti Bachao, Beti Padao, 2015) |
| Founder Of The Scheme | Government Of India |
| Minimum & Maximum Deposit | Minimum 250/- & Maximum 1,50,000/- Per Year |
| Interest | 8% (1st Quarter Of 2023) |
| Interest Calculator | Sukanya Samriddhi Yojana Calculator Link |
If a parent starts investing money in this Sukanya Samriddhi Yojana account after the birth of his daughter, then the money has to be invested till the age of 14 years of the daughter. After the girl reaches 18, you can withdraw 50% of the deposited money if you want. You can use that 50% money for your daughter’s higher education or professional work. After that, when the daughter turns 21, you can withdraw the entire amount with interest.
Sukanya Samriddhi Yojana Maturity
If a person invests Rs 12,500 per month for his daughter, then that parent or investor can get maximum income tax benefits of up to Rs 1.5 lakh annually under section 80C of the income tax act. If you invest Rs 12,500 per month in an SSY account, your daughter will get a maturity amount of ₹63,79,634 at an annual interest rate of 7.6% at the age of 21.
See Sukanya Samriddhi Yojana Calculator below
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