8.2 percent interest, government guarantee, which scheme is giving this much interest?

Chandigarh Recently, the government has announced no change in the interest rates on Sukanya Samriddhi Yojana and other small savings schemes for the third quarter (October-December) of the current financial year 2024-25. Thus, the government has not made any changes in interest rates for three quarters. Last time the rates of some schemes were changed for the fourth quarter of the financial year 2023-24.

According to the notification, interest on the amount deposited under Sukanya Samriddhi Yojana will be available at the rate of 8.2 percent as before. The government notifies interest rates every quarter for these schemes operated by post offices and banks.

Sukanya Samriddhi Yojana
Any Indian citizen can open Sukanya Samriddhi Yojana account in the name of his/her daughter. To be eligible for this scheme the age of the daughter should be between 0 to 10 years. Interest is given at the rate of 8.2 percent. In this, Rs 250 can be deposited annually and a maximum of Rs 1.5 lakh can be deposited annually. You can invest for a total of 15 years, after which the entire amount will be paid on maturity after completion of 21 years. Tax exemption is available on investment, interest and principal amount in Sukanya Samriddhi Yojana.

By investing Rs 10,000 every month, you will accumulate this much amount.
Suppose your daughter is 5 years old and you invest Rs 10,000 every month in Sukanya Samriddhi Yojana. Accordingly, we invest Rs 1.2 lakh annually. At 8.2 percent annual interest rate, a huge fund of Rs 55.61 lakh will be accumulated after 21 years. The amount invested in this will be Rs 17.93 lakh, while the interest will be Rs 37.68 lakh.