Sukanya Samriddhi Yojana SSY): After increased interest rate, your Rs 5K investment will become around Rs 28 lakh; know how ssy calculator ssy interest rate 2024 ssy new interest rates

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme aimed at promoting the education and financial security of young girls in India. Under this scheme, eligible parents or guardians can invest a fixed amount of Rs 5,000 per month for a period of 14 years into a low-risk investment instrument that offers guaranteed returns. The scheme is designed to encourage long-term savings and investment in the education and future prospects of young girls.

The interest rate on SSY has been increased from 8.0% to 8.2% by the central government, making it one of the highest interest rates offered by any post office scheme in India. This increase in interest rate is expected to make the SSY scheme more attractive to investors and encourage them to invest in their daughter's future.

At an interest rate of 8.2%, an investment of Rs 5,000 per month for 14 years can grow to nearly Rs 28 lakh on maturity. This can provide a significant financial boost to the girl and her family, helping them to achieve their financial goals and secure a better future.

It's important to note that the SSY scheme has certain eligibility criteria and rules that must be followed in order to invest. Eligible parents or guardians must have a daughter who is below the age of 10 years at the time of investment, and the investment must be made within a specific time frame. Additionally, there are restrictions on withdrawals from the scheme before maturity.

Overall, the SSY scheme offers a unique opportunity for parents and guardians to invest in their daughter's future and provide her with a guaranteed return on investment. With the increased interest rate, this scheme is now even more attractive to investors looking for a low-risk investment option that can help them achieve their financial goals.