Sukanya Samriddhi Yojana Interest Rate 2021

Sukanya Samriddhi Yojana is one of the most successful and beneficial schemes introduced by the Modi Government. The reason behind such a big success of this Scheme is the interest rate offered on the savings account. Sukanya Samriddhi Yojana Interest Rate 2019 was 8.5% p.a which is one of the highest interests that is offered by any type of account or scheme. This scheme is introduced to provide the benefit to the female section of the society by empowering the future generation with opportunity.

UPDATE: Government recently announced that the interest rates for the quarter Jan – Mar 2021 will remain unchanged for Sukanya Sukanya Yojana which is 7.6% for now.

Another aim of this scheme is to help the parents accomplish the goal of their daughter by providing funding at two major events like Education and Marriage. When the Sukanya Samriddhi Yojana Scheme was introduced back in 2015 the interest rate was around 9.1% p.a. Interest offered by for the Sukanya Samriddhi Yojana Scheme is changed every quarter. Below is the table which shows the historic interest rate offered on the Sukanya Samriddhi Yojana Account (yearly)-

Year Interest Rate
2014-15 9.1%
2015-16 9.2%
2016-17 8.6%
2017-18 8.4%
2018-19 8.1%
2019-20 7.6%
2020-21 7.6%

Related ArticleList of Bank Offering Sukanya Samriddhi Yojana Account

How Interest For Sukanya Samriddhi Yojana Is Calculated?

The Interest rate of Sukanya Samriddhi Yojana is calculated on the compound bases which is why this account can offer a high Return on Investment. The Interest earned is exempt of any taxed meaning the amount that you will receive will not be charged with any taxes and a full absolute amount will be paid. You can use the Sukanya Samriddhi Yojana Calculator to for any amount. To understand it further let’s take an example-

Example for Sukanya Samriddhi Yojana Interest Earned-

Before the calculation of the Interest earned and the maturity amount, we need to assume some factor that is deciding factor of the interest earned-

  • The amount of Rs.10,000/- will be deposited on annual bases
  • The interest rate of the scheme will be the same throughout the year although it changes every year.
  • No partial withdrawal will be done throughout the 21 years of the maturity period
Year Yearly Deposite Total Deposite at Year End Balance at  Year End
1 10000 10000    10,810
2 10000 20000    22,496
3 10000 30000    35,128
4 10000 40000    48,783
5 10000 50000    63,545
6 10000 60000    79,502
7 10000 70000    96,751
8 10000 80000 115,398
9 10000 90000 135,555
10 10000 100000 157,345
11 10000 110000 180,900
12 10000 120000 206,363
13 10000 130000 233,889
14 10000 140000 263,644
15     284,999
16     308,084
17     333,038
18     360,015
19     389,176
20     420,699
21     454,776


The above table clearly indicates that the Return on Investment is very attractive. As per the assumption, the total investment made throughout the initial 14 years is Rs. 1,40,000/- and the final maturity amount earned after 21 years is Rs. 4,54.776 which is almost 3-4 times the investment made. Therefore, this scheme is very beneficial for the daughter’s education and marriage.  

Was this post helpful?