Sukanya Samriddhi Account Yojana Interest Rate 2017

Sukanya Samriddhi Account Yojana Interest Rate 2017
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Prime Minister Shree Modi know if he want to move nation forward, he must push girls who fall behind because of weak social thinking. To do this he do lots one of them is “Suknya Samriddhi Account Yojana. While Launching Sukanya Samriddhi Account Yojana his mantra is “Beti Bachoo, Betti Paddo”. The Scheme features attracts lots of girl child parent to save money in daughter early age. Higher Sukanya Samriddhi Account Yojana interest rate than other small saving scheme and tax saving benefit (EEE) that is Exempt-Exempt-Exempt(interest earn and maturity amount all are exempted from tax) made SSA scheme more attractive than other social schemes.

When you compare Sukanya Samriddhi Yojana with Public Provident Fund (PPF)you find maturity value is comparatively more because of Sukanya Samriddhi Account Yojana Interest Rate.

The Sukanya Samriddhi Yojana Account was lauched with initial interest of 9.1 % p.a compounded annually now today the interest rate is just 9.4 % p.a.

Suknya Samriddhi Account Yojna Interest Rate

Complete Revision of Sukanya Samriddhi Account Yojana Interest rate

 

Fiscal Year Interest Rate
1 2014-15 9.1
2 2015-16 9.2
3 Q1 of 2016-17 8.6
4 Q2 of 2016-17 8.6
5 Q3 of 2016-17 8.5
6 Q4 of 2016-17 till now 8.4

How Your investment is effected because of changing Interest rate of Sukanya Samriddhi Account Yojana ? For This we take same example one person having beautiful daughter open account SSA in post office and start investing in Rs 1,000. Below we show table for all 5 interest rate and show how maturity changes.

Case 1. If Sukanya Samriddhi Account Yojana Interest Rate Interest Rate is 9.1

Year Rate Of Interest Opening Balance Investment Interest Earn Closing Balance
1 9.1% 0 1000 91 1091
2 9.1% 1091 1000 190.28 2281.28
3 9.1% 2281.28 1000 298.6 3579.88
4 9.1% 3579.88 1000 416.77 4996.65
5 9.1% 4996.65 1000 545.69 6542.34
6 9.1% 6542.34 1000 686.35 8228.69
7 9.1% 8228.69 1000 839.81 10068.51
8 9.1% 10068.51 1000 1007.23 12075.74
9 9.1% 12075.74 1000 1189.89 14265.63
10 9.1% 14265.63 1000 1389.17 16654.8
11 9.1% 16654.8 1000 1606.59 19261.39
12 9.1% 19261.39 1000 1843.79 22105.18
13 9.1% 22105.18 1000 2102.57 25207.75
14 9.1% 25207.75 1000 2384.91 28592.65
15 9.1% 28592.65 1000 2692.93 32285.59
16 9.1% 32285.59 0 2937.99 35223.57
17 9.1% 35223.57 0 3205.35 38428.92
18 9.1% 38428.92 0 3497.03 41925.95
19 9.1% 41925.95 0 3815.26 45741.21
20 9.1% 45741.21 0 4162.45 49903.66
21 9.1% 49903.66 0 4541.23 54444.9

Case 2. If Sukanya Samriddhi Account Yojana Interest Rate Interest Rate is 9.2

Year Rate Of Interest Opening Balance Investment Interest Earn Closing Balance
1 9.2% 0 1000 92 1092
2 9.2% 1092 1000 192.46 2284.46
3 9.2% 2284.46 1000 302.17 3586.63
4 9.2% 3586.63 1000 421.97 5008.61
5 9.2% 5008.61 1000 552.79 6561.4
6 9.2% 6561.4 1000 695.65 8257.05
7 9.2% 8257.05 1000 851.65 10108.69
8 9.2% 10108.69 1000 1022 12130.69
9 9.2% 12130.69 1000 1208.02 14338.72
10 9.2% 14338.72 1000 1411.16 16749.88
11 9.2% 16749.88 1000 1632.99 19382.87
12 9.2% 19382.87 1000 1875.22 22258.09
13 9.2% 22258.09 1000 2139.74 25397.84
14 9.2% 25397.84 1000 2428.6 28826.44
15 9.2% 28826.44 1000 2744.03 32570.47
16 9.2% 32570.47 0 2996.48 35566.95
17 9.2% 35566.95 0 3272.16 38839.11
18 9.2% 38839.11 0 3573.2 42412.31
19 9.2% 42412.31 0 3901.93 46314.24
20 9.2% 46314.24 0 4260.91 50575.15
21 9.2% 50575.15 0 4652.91 55228.07

Case 3. Sukanya Samriddhi Account Yojana Interest Rate is 8.6

Year Rate Of Interest Opening Balance Investment Interest Earn Closing Balance
1 8.6% 0 1000 86 1086
2 8.6% 1086 1000 179.4 2265.4
3 8.6% 2265.4 1000 280.82 3546.22
4 8.6% 3546.22 1000 390.97 4937.19
5 8.6% 4937.19 1000 510.6 6447.79
6 8.6% 6447.79 1000 640.51 8088.3
7 8.6% 8088.3 1000 781.59 9869.9
8 8.6% 9869.9 1000 934.81 11804.71
9 8.6% 11804.71 1000 1101.21 13905.91
10 8.6% 13905.91 1000 1281.91 16187.82
11 8.6% 16187.82 1000 1478.15 18665.98
12 8.6% 18665.98 1000 1691.27 21357.25
13 8.6% 21357.25 1000 1922.72 24279.97
14 8.6% 24279.97 1000 2174.08 27454.05
15 8.6% 27454.05 1000 2447.05 30901.1
16 8.6% 30901.1 0 2657.49 33558.59
17 8.6% 33558.59 0 2886.04 36444.63
18 8.6% 36444.63 0 3134.24 39578.87
19 8.6% 39578.87 0 3403.78 42982.65
20 8.6% 42982.65 0 3696.51 46679.16
21 8.6% 46679.16 0 4014.41 50693.57

Case 4. Sukanya Samriddhi Account Yojana Interest Rate is 8.5

Year Rate Of Interest Opening Balance Investment Interest Earn Closing Balance
1 8.5% 0 1000 85 1085
2 8.5% 1085 1000 177.23 2262.23
3 8.5% 2262.23 1000 277.29 3539.51
4 8.5% 3539.51 1000 385.86 4925.37
5 8.5% 4925.37 1000 503.66 6429.03
6 8.5% 6429.03 1000 631.47 8060.5
7 8.5% 8060.5 1000 770.14 9830.64
8 8.5% 9830.64 1000 920.6 11751.24
9 8.5% 11751.24 1000 1083.86 13835.1
10 8.5% 13835.1 1000 1260.98 16096.08
11 8.5% 16096.08 1000 1453.17 18549.25
12 8.5% 18549.25 1000 1661.69 21210.94
13 8.5% 21210.94 1000 1887.93 24098.87
14 8.5% 24098.87 1000 2133.4 27232.27
15 8.5% 27232.27 1000 2399.74 30632.01
16 8.5% 30632.01 0 2603.72 33235.73
17 8.5% 33235.73 0 2825.04 36060.77
18 8.5% 36060.77 0 3065.17 39125.94
19 8.5% 39125.94 0 3325.7 42451.64
20 8.5% 42451.64 0 3608.39 46060.03
21 8.5% 46060.03 0 3915.1 49975.13

Case 5. If Sukanya Samriddhi Account Yojana Interest Rate is same as now that is 8.4

Year Rate Of Interest Opening Balance Investment Interest Earn Closing Balance
1 8.4% 0 1000 84 1084
2 8.4% 1084 1000 175.06 2259.06
3 8.4% 2259.06 1000 273.76 3532.82
4 8.4% 3532.82 1000 380.76 4913.57
5 8.4% 4913.57 1000 496.74 6410.31
6 8.4% 6410.31 1000 622.47 8032.78
7 8.4% 8032.78 1000 758.75 9791.53
8 8.4% 9791.53 1000 906.49 11698.02
9 8.4% 11698.02 1000 1066.63 13764.66
10 8.4% 13764.66 1000 1240.23 16004.89
11 8.4% 16004.89 1000 1428.41 18433.3
12 8.4% 18433.3 1000 1632.4 21065.69
13 8.4% 21065.69 1000 1853.52 23919.21
14 8.4% 23919.21 1000 2093.21 27012.43
15 8.4% 27012.43 1000 2353.04 30365.47
16 8.4% 30365.47 0 2550.7 32916.17
17 8.4% 32916.17 0 2764.96 35681.13
18 8.4% 35681.13 0 2997.21 38678.34
19 8.4% 38678.34 0 3248.98 41927.32
20 8.4% 41927.32 0 3521.9 45449.22
21 8.4% 45449.22 0 3817.73 49266.95

When Maturity Value decrease because rate of interest in sukanya samriddhi yojana account is decreasing. In future it may decrease more. This is only drawback of Sukanya Samriddhi Yojana.

 

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