Sukanya Samriddhi Yojana Features, Benefits and Interest Calculation Explained

Sukanya Samriddhi Yojana (SSY) is a savings scheme launched back in 2015 as a part of Government initiative Beti Bachao, Beti Padhao campaign.

This scheme enables guardians to open a savings account for their girl child with an authorized commercial bank or India Post branch.

Current Interest Rate is 7.6% annually (as of Jan 2023), and is reviewed every quarter.

You get Income Tax Benefits under Section 80C while saving in this scheme.

Deposits in an account can be made till completion of 14 years, from the date of opening of the account.

The account shall mature on completion of 21 years from the date of opening of the account.

Partial Withdrawals are allowed for the purpose of higher education and marriage of the girl child.

You can open a maximum of 2 accounts in a family.

Monthly interest is calculated and compounding frequency is annual

Interest Calculation in SSY:

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