Sukanya Samriddhi Yojana 2024 (SSY) – Interest Rate, Documents, Benefits

Sukanya Samriddhi Yojana 2024 General Information

Under Sukanya Samriddhi Yojana 2024, parents or legal guardians can open an account in the name of their daughter. Under this scheme, the age limit for the daughter to open an account has been kept from birth to 10 years. Under Sukanya Samriddhi Yojana 2024, the account can be opened in any government bank or post office.

At present the interest rate in Sukanya Samriddhi Yojana is 8.0 percent. The interest rates for Sukanya Samriddhi Yojana have been set at 8% per annum for April to June (financial year 2023-24). Sukanya Samriddhi Yojana can be opened by paying a minimum of Rs 250. You can deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh annually in Sukanya Samriddhi Yojana. In this scheme, you have to deposit money for your daughter for 15 years and this scheme gets matched further in 21 years.

Name of the Scheme	Sukanya Samriddhi Yojana
Start By	Centrel Govt
Beneficiary	Girls under 1 to 10 Year
Objective	To improve the future of daughters
Investment amount	Minimum Rs 250, Maximum Rs 1.5 lakh
Investment period	up to 15 years
Interest rate	8% per annum
Year	2023

Banks offering Sukanya Samriddhi Yojana

You can get the application form for a new account in Sukanya Samriddhi Yojana from the post office or the private sector bank involved in it. Apart from this, you can also download the new account application form for Sukanya Samriddhi Yojana from the website of RBI and banks. . The list of banks offering Sukanya Samriddhi Yojana is given below.

State Bank of India	Canara Bank	Syndicate Bank
United Bank of India	Bank of India	Punjab & Sind Bank
UCO Bank	Axis Bank	Indian Overseas Bank
Punjab National Bank	Allahabad Bank	IDBI Bank
Oriental Bank of Commerce	Vijaya Bank	Dena Bank
Indian Bank	Union Bank of India	Central Bank of India
Corporation Bank	ICICI Bank

Sukanya Samriddhi Yojana 2024 Eligibility

• Under Sukanya Samriddhi Yojana 2024, the account can be opened from the birth of the girl till the age of 10 years. That means the age of the girl should be less than 10 years.
• Only one Sukanya Samriddhi account can be opened in the name of a girl child. Jani cannot open more than one account in the name of a girl.
• Sukanya Samriddhi Yojana account can be opened in the name of only two girls in a family. Sukanya Samriddhi Account can be opened for more than 2 girls only in some special cases (twins).
• Sukanya Samriddhi Yojana account is opened by parents or legal guardians in the name of the girl child only.

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Sukanya Samriddhi Yojana 2024 Benefit

• Guaranteed Returns: There is no risk of any kind in Sukanya Samriddhi Yojana. Because this is the government’s plan. Therefore it provides guaranteed returns.
• Maximum interest rate: The interest rate on the Sukanya Samriddhi Yojana account has been kept high. At present the interest rate of Sukanya Samriddhi Yojana is 8%.
• Tax Benefit: Sukanya Samriddhi Yojana provides income tax exemption under Section 80C.
• The benefit of compounding: Compound interest is available in Sukanya Samriddhi Yojana. Due to this, you get great returns after a long time.
• Transfer Benefit: Sukanya Samriddhi’s account can be transferred from one bank to another or another post office.
• Convenience in investment: In this scheme, a person can deposit a minimum of Rs 250 and a maximum of Rs 1.50 lakh per year in 1 year. You can invest in the scheme according to your time and financial condition.

Sukanya Samriddhi Yojana 2024 Other Features Other Key Features

• You can deposit a minimum ₹ 250 and a maximum ₹ 1.50 lakh annually in Sukanya Samriddhi Yojana. This amount has to be deposited for 15 years. This account matures in 21 years.
• Under Sukanya Samriddhi Yojana, the amount is given to the girl when the account matures. If the account is not closed after maturity, interest continues to accrue on the balance amount.
• If the girl gets married before completing 21 years, the account will be automatically closed.
• Money has to be deposited for 15 years from the date of opening of the Sukanya Samriddhi Yojana account, after which interest continues to be received on the deposited amount.
• The girl can withdraw the amount on completion of a maturity period of 21 years. But at that time he must have been 18 years old. In this situation, she can withdraw 50% of the total amount.
• If the girl is above 18 years of age or after she completes the 10th class, up to 50% of the money can be withdrawn for further studies, and the money can be received in a lump sum or instalments.
• Sukanya Samriddhi Yojana comes under EEE investment. This means that the amount invested and interest as well as the maturity amount will not be taxed.

Sukanya Samriddhi Yojana 2024 Required Documents

To open an account under Sukanya Samriddhi Yojana 2024, the candidate must have the following documents.

1. Birth certificate of the girl.
2. Aadhaar card, domicile certificate, voter ID card, ration card, driving license, electricity or telephone bill etc. of the girl’s parents or legal guardian.
3. PAN card.

How to apply under Sukanya Samriddhi Yojana 2024?

• To open an account under Sukanya Samriddhi Yojana, first of all, you have to go to your nearest post office or any bank branch.
• By going there you will have to get the application form for investing under Sukanya Samriddhi Yojana.
• After this, you will have to enter the information of the parents/guardians who will open the account and invest on behalf of the girl child.
• After entering all the information, you will have to attach the form with copies of the required documents.
• After completing the process, you will have to submit this application form along with the premium amount to the post office or bank.
• In this way, you can apply under Sukanya Samriddhi Yojana.

MY Bharat Portal 2024 | mybharat.gov.in Portal Registration | Youth Registration

Sukanya Samriddhi Yojana Interest Rate

As of right now, the annual compound interest rate under the Sukanya Samriddhi Yojana plan is 8.0% p.a. instead of 7.6%. After the plan’s period is up, or if the girl becomes a non-resident Indian (NRI) or non-citizen, interest is not due. The government determines the interest rate, which is updated quarterly.

The following table lists the interest rate that the plan has offered:

Duration	Rate of interest (%)
April 2023 – June 2023	8.0%
April 2020 onwards	7.6
1 January 2019 – 31 March 2019	8.5
1 October 2018 – 31 December 2018	8.5
1 July 2018 – 30 September 2018	8.1
1 April 2018 – 30 June 2018	8.1
1 January 2018 – 31 March 2018	8.1
1 July 2017 – 31 December 2017	8.3
1 October 2016 – 31 December 2016	8.5
1 July 2016 – 30 September 2016	8.6
1 April 2016 – 30 June 2016	8.6
From 1 April 2015	9.2
From 1 April 2014	9.1

Sukanya Samriddhi Yojana 2024 Calculator

If you deposit Rs 1000 per month in Sukanya Samriddhi Yojana. So you deposit Rs 12,000 in 1 year. In this way, you will invest a total of Rs 1,80,000 in 15 years and you will get interest of Rs 3,59,449. In this way, you will get a total of Rs 5,39,449 on maturity.

If you deposit Rs 5000 per month in Sukanya Samriddhi Yojana. So you will invest Rs 60,000 in 1 year. In this way, you will invest a total of Rs 9,00,000 lakh in 15 years. If we look at the interest rate of 8% then on maturity you will get Rs 26,97,246.

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FAQ: Sukanya Samriddhi Yojana 2024

Q: What is the minimum amount of rupees one can invest under Sukanya Samriddhi Yojana?

Ans: A minimum investment of Rs 250 can be made under Sukanya Samriddhi Yojana.

Q: Can a loan be taken against the remaining amount in Sukanya Samriddhi Yojana?

And: No, the loan facility is not available against the remaining amount of Sukanya Samriddhi Yojana. You can withdraw 50% of the amount under this scheme only when you turn 18 years of age.