What is the interest rate for Sukanya Samriddhi Yojana for 2019? How and when does the interest rates change? How the interest rate for SSY account has changed historically? This post answers all the above questions.
Sukanya Samriddhi Yojana is a very popular small deposit scheme for girl child guaranteed by Government of India to encourage savings for girl child for their education and marriage.
Starting April 2016, Government of India announces interest rate on small saving schemes including Sukanya Samriddhi Account, PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits every quarter. This is done to keep these interest rates in sync with the market rates.
The table below shows the interest reset schedule:
Sukanya Samriddhi Yojana was launched in January 2015 and at that time the interest rate was 9.1%. It went up to 9.2% for FY 2015-16 and presently at 8.4%. The table below lists the interest rates:
Based on Financial Year:
Financial year | Apr – Jun | Jul – Sep | Oct – Dec | Jan – Mar |
2019 – 20 | 8.50% | 8.40% | ||
2018 – 19 | 8.10% | 8.10% | 8.50% | 8.50% |
2017 – 18 | 8.40% | 8.30% | 8.30% | 8.10% |
2016 – 17 | 8.60% | 8.60% | 8.50% | 8.50% |
2015 – 16 | 9.20% | 9.20% | 9.20% | 9.20% |
2014 – 15 | x | x | x | 9.10% |
Based on Calendar Year:
Year | Jan – Mar | Apr – Jun | Jul – Sep | Oct – Dec |
2019 | 8.50% | 8.50% | 8.40% | |
2018 | 8.10% | 8.10% | 8.10% | 8.50% |
2017 | 8.50% | 8.40% | 8.30% | 8.30% |
2016 | 9.20% | 8.60% | 8.60% | 8.50% |
2015 | 9.10% | 9.20% | 9.20% | 9.20% |
Below are some basic rules for SSY Account:
Also Read: Everything you wanted to know about PPF
Everyone hates paying taxes and always are on lookout for Options to Save Tax. However…
Are you worried and confused about Lien amount in SBI? Well you are not alone.…
Get details of latest Sovereign Gold Bond Price, Issue details, taxation and how to invest.…
Download the Excel based Income Tax Calculator India for FY 2020-21 (AY 2021-22). This compares…
Piramal Capital & Housing Finance, has come out with Piramal Capital & Housing Finance Ltd…
IIFL Home Loan, the Housing Finance company from IIFL Group has come out with IIFL…
View Comments
My grand daughter 3 months old , can I sponsor her for Sukanya samridhi?
Will the 8.4% interest rate for the entire 21 years?
Appreciate your kind response.