Sukanya Interest Rate for September Quarter: The Finance Ministry has revised the interest rates for post office savings schemes for the September quarter. For Sukanya Yojana, the account of a girl child below 10 years of age can be opened.
New Delhi: The Finance Ministry has revised the interest rates for post office savings schemes for the September quarter. In such a situation, the investors of Sukanya Yojana were also waiting to get the benefit of increased interest, but this time the ministry has not changed the interest rate on Sukanya Yojana. In such a situation, the interest rate given in the June quarter is going to be applicable in this quarter also.
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 10 years of age can be opened. Parents can open Sukanya account for their daughter in the nearest bank or post office.
Interest rate has increased on 3 savings schemes
The Finance Ministry has increased the interest rates only for the July-September quarter on 30 June 2023 on only 3 small savings schemes.
- For 1 year, the interest rate on Post Office Time Deposit Scheme has been increased from 6.8 percent to 6.9 percent.
- 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.
Current Interest Rate on Sukanya Yojana
The Central Government has not made any change in the interest rate on Small Savings Scheme and Post Office Savings Schemes for the July-September quarter. The investors of the scheme will get 8 percent interest rate as before. The government had 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 Sukanya Samriddhi Yojana investor who has opened the account before March 31, 2023 and has not submitted his Aadhaar number to the accounts office, should submit the Aadhaar to the concerned office within six months from April 1, 2023. Whereas, post office or bank where Sukanya account has been opened can also be linked by depositing Aadhaar. The last date for submission of Aadhaar is 30 September 2023. Failure to do so may result in account freeze.
