The Finance Ministry has revised the interest rates of post office savings schemes for the September quarter. Most of the investors investing in Sukanya Yojana were waiting for the interest to increase, but this time the ministry did not make any change in the interest rate on Sukanya Yojana.
The Finance Ministry has revised the interest rates of post office savings schemes for the September quarter. Most of the investors investing in Sukanya Yojana were waiting for interest to increase, but this time the ministry has not made any change in the interest rate of Sukanya Yojana. Now the interest rate given in the June quarter on Sukanya Yojana is going to be applicable in this quarter as well.
What is Sukanya Samriddhi Yojana?
Under the Beti Bachao-Beti Padhao mission, the central government started the Sukanya Samriddhi Yojana in the year 2015. In this scheme, the amount can be deposited for 15 years by opening an account in the name of the daughter. For Sukanya Yojana, the account of a girl child below the age of 10 years can be opened. Parents can open Sukanya account for their girl child in the nearest bank or post office.
Government increased interest on 3 savings schemes
- The Finance Ministry has increased the interest rates on only 3 small savings schemes for the July-September quarter on June 30, 2023.
- Interest rate on Post Office Time Deposit Scheme has been increased from 6.8 per cent to 6.9 per cent for 1 year.
- Interest rate on 2-year post office time deposit has been increased from 6.9 per cent to 7 per cent.
- The interest rate on the 5-year recurring deposit scheme has been increased from 6.2 per cent to 6.5 per cent.
Interest Rates on Sukanya Yojana
The Central Government has not made any change in the interest rates of Small Savings Schemes and Post Office Savings Scheme for the July-September quarter. The investors of the scheme will get 8 percent interest rate as before. The government last increased the interest rate from 7.6 per cent to 8 per cent in June.
It is necessary to link Sukanya account with Aadhaar
According to the Ministry of Finance, the investor of Sukanya Samriddhi Yojana who has opened the account before March 31, 2023 and has not linked his Aadhaar number in the office, then do so. If Sukanya account is open in post office or bank, link it by depositing Aadhaar there too. The last date for submission of Aadhaar is 30 September 2023. Failure to do so may result in account freeze.
