Sukanya Samriddhi Yojana: Check Latest Interest Rate From January 1 For Scheme

The Ministry of Finance revises SSY interest rates quarterly. At its launch, the scheme offered an interest rate of 9.1%, which increased to 9.2% in FY 2015-16. However, the rate dropped to 7.6% for three years in later years. Since January 2024, it has been set at 8.2%. Over the last decade, the scheme has provided an average annual return of 8% or higher in 7 out of 10 years, making it a reliable option for long-term savings.

"The rate of interest on various Small Savings Schemes for the fourth quarter of FY 2024-25 starting from 1st January, 2025 and ending on 31st March, 2025 shall remain unchanged from those notified for the third quarter (1st October, 2024 to 31st December, 2024) of FY 2024-25," said the Department of Economic Affairs, Finance Ministry in a press release dated December 31, 2024.

SSY: Details 

The Sukanya Samriddhi Yojana (SSY), launched on January 22, 2015, by Prime Minister Narendra Modi, has completed 10 years. This scheme has empowered families to invest in their daughters' futures, with over 4.2 crore subscribers as of November 2024, according to the Ministry of Finance. Families can invest between Rs 250 and Rs 1.5 lakh annually in the name of a girl child.

According to the India Post website, “If minimum deposit Rs. 250 is not deposited in an account in a FY , the account shall be treated as a defaulted account. Defaulted account can be revived before completion of 15 years from the date of opening of account by paying minimum Rs. 250 + Rs. 50 default for each defaulted year. You can make deposits into an account up to 14 years from the account's opening date.”

SSY: Tax Benefits

SSY offers significant tax benefits under the exempt-exempt-exempt (EEE) framework. Contributions qualify for tax deductions under Section 80C of the Income Tax Act, and both interest earned and maturity benefits are tax-free. The maximum annual investment limit is Rs 1.5 lakh, making it a tax-efficient way to save for a girl child's future.

SSY continues to stand out as a secure investment choice, combining stable returns, tax advantages, and a commitment to empowering families in securing their daughters' futures.