Sukanya Samriddhi Yojana Interest Rate 2024:- The Central Government had launched a new scheme Sukanya Samriddhi Yojana (SSY) for girls in 2015. This scheme was run under the ‘Beti Bachao Beti Padhao’ campaign. The objective of this scheme is to secure the future of girls. The government has increased the interest rate of Sukanya Samriddhi Yojana (SSY) by 20 points, which means the current rate of interest in SSY 2024 is 8.20% and the previous interest rate was 8%.
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About Of Sukanya Samriddhi Yojana Interest Rate
Sukanya Samriddhi Yojana (SSY) is a long-term savings scheme that aims to encourage parents to save for the financial future of their girl children by investing in this scheme. Under this SSY scheme, the government was giving an 8% interest rate to the beneficiaries in 2023 but now the central government has increased the interest rate to 8.20%, and the interest rate received from Sukanya Samriddhi Yojana is considered tax-free by the central government. Today in the article we will tell you how to apply for this scheme, how to log in, the eligibility criteria, benefits, required documents, and other important information for applying for this scheme.
Sukanya Samriddhi Yojana Interest Rate 2024 Key Highlights
| Name of the Scheme | Sukanya Samriddhi Yojana |
| Name Of the Article | Sukanya Samriddhi Yojana Interest Rate 2024 |
| Launched by | Finance Ministry |
| Introduced by | Central Government |
| Beneficiary | Account Holder of Sukanya Samriddhi Yojana |
| Start date | 22 January 2015 |
| objectives | Increase in the interest rate of Sukanya Samriddhi Yojana |
| Years | 2024 |
| State | All India |
| Application Mode | Offline |
| Maturity Period | until the girl turns 21. |
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Objective of Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana has been launched by the Finance Ministry to help single girl children in India. Sukanya Samriddhi Yojana was launched by the Honorable Prime Minister Shri Narendra Modi of India on 22 January 2015 as a part of the Beti Bachao Beti Padhao campaign. This scheme has been launched to help girls meet their education and marriage expenses. Any eligible citizen of India can apply for Sukanya Samriddhi Yojana (SSY) in the branches of public sector banks and private sector banks i.e. HDFC Bank, Axis Bank, and ICICI Bank. The minimum investment under Sukanya Samriddhi Yojana is Rs 250 per year and the maximum investment is Rs 1,50,000 per year. If you want to take benefit of this SSY Scheme then read this article carefully.
Benefits of Sukanya Samriddhi Yojana Interest Rate
Through this Sukanya Samriddhi Yojana will provide various benefits to the teachers and students.
- The interest rate of Sukanya Samriddhi Yojana (SSY) will increase from time to time, in 2023 the interest rate was 8% and now in 2024 the interest rate will increase to 8.20%.
- No tax will have to be paid on the interest received on this Sukanya Samriddhi Yojana.
- Through this scheme, girls can get benefits in their education and marriage.
- Sukanya Samriddhi Yojana is a government-authorized scheme so we will get guaranteed returns.
- The interest of this scheme will be transferred directly to the beneficiary bank account.
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Eligibility Criteria
The Sukanya Samriddhi Yojana has certain eligibility criteria. Below we have told you about the eligibility criteria for the Sukanya Samriddhi Yojana -––
- The Sukanya Samriddhi Yojana account should be opened by the parents or legal guardian of the girl child.
- The age of the girl child should be less than 10 years at the time of opening the account.
- You can make a minimum investment of Rs 250 per year in this scheme.
- You can make a maximum investment of Rs 1,50,000 per year in this scheme.
- Under this scheme, the account holder should not have more than one account.
- In SSY, accounts of one girl child will be opened and accounts of only two girls per family will be opened (except twins and triplets).
Required Document
- SSY account opening form
- Birth Certificate of eligible girl child
- Passport-size Photo of the girl’s parents/legal guardian
- KYC Documents
- Address Proof of the parent/guardian
Previous vs Current Year Interest Rate
| Previous Year Interest Rate | Current Year Interest Rate |
| 8% | 8.20% |
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Sukanya Samriddhi Yojana Application Process
If you also want to Apply Sukanya Samriddhi Yojana 2024, then follow the steps given below carefully.
- First of all the applicant has to go to the bank or post office where he wants to open his Sukanya Samriddhi account.
- Now, Fill out the application form and attach all the required documents.
- Now the applicant i.e. you will have to deposit the first amount whether you deposit in the form of a cash check or a demand draft, you will have to deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh.
- The bank or post office from where you have applied will now start processing your application and payment.
- Now, Your Sukanya Samriddhi account will be activated as soon as your application process is completed.
- After completion of the process, the post office or bank branch will give you a passbook to mark the opening of the account.
Contact Details
| Contact Number | 18002666868 |
FAQs
The Honorable Prime Minister Shri Narendra Modi launched the Sukanya Samriddhi Yojana on 22 January 2015.
The new Sukanya Samriddhi Yojana Interest rate is 8.20% in 2024.
The minimum amount to be deposited under Sukanya Samriddhi Yojana is Rs 250 and the maximum amount is Rs 1,50,000.