The Finance Ministry has announced the revised interest rates on various Post Office Small Savings Schemes. These interest rates are applicable for Financial Year 2015-2016 and are effective from 1st April, 2015.

The savings schemes that are available at Post Office branches are as below;

*Sukanya Samriddhi Deposit Scheme*- Public Provident Fund
- Senior Citizen Savings Scheme
*(SCSS)* - Monthly Income Scheme
*(MIS)* - Term / Time Deposits
- Recurring Deposits
- National Savings Certificates
*(NSC – 5 year / 10 year)* *New Kisan Vikas Patra**(KVP)*- Savings Account

**Post Office Small Savings Schemes : Interest rates for Financial Year (FY) 2015-2016**

- The interest rate on
*Sukanya Samriddhi Account*has been increased to 9.2% from 9.1%. This account can be opened at*authorized banks*or at post office branches. - The interest rate on a 5 year Senior Citizen Savings Scheme (SCSS) has been revised to 9.3%, an increase of .10%.
- The rate of interest on Public Provident Fund (PPF) for Financial Year 2015-2016 has not been changed. Interest rate on PPF for FY 2015-16 would be 8.7%.
- The interest rates on Public Provident Fund (PPF), Term Deposits, Recurring Deposits, MIS & KVP have been kept unchanged for Financial Year 2015-2016.

In the last one year or so, the yields on Government Bonds have been decreasing. This normally leads to a decrease in interest rates of Small Savings Schemes / Bank Deposits. However, the Government is going against the tide and has chosen to keep the interest rates unchanged on various savings schemes. The increase of .10% interest rate on *Sukanya Samriddhi A/c* (SSA) is seen as a political move and it may encourage more and more investors to join the scheme.

Before you decide to invest in SSA Scheme *(or any Small Savings Scheme)*, kindly use the calculator which is available in one of my posts – “*Calculate how much you need to invest for your Kid’s education or marriage..”*. Download the calculator and you may find out the required savings amount. If the required savings amount is high, and the target year (kids education / marriage goals) is far off, do not hesitate to take investment risk. It is prudent to invest a major portion of your savings in equity oriented products *(like mutual funds)* than to invest in the above savings schemes.

**Latest News on EPF : ***(16-Feb-2016)*

**Rate of Interest rate on EPF (Employees Provident Fund) for the Financial Year 2016-2016 has been increased to 8.8% from the current 8.75%. This new rate is applicable for the fiscal year 2015-16.**

**Latest News**

*(18-March-2016)*:

**The Govt has cut rate of interest of Sukanya Samriddhi Scheme. The interest rate on Sukanya Samriddhi Account (SSA) for 1st Quarter of Financial Year (FY) 2016-17 would be 8.6%**. For complete details on revised interest rates,

*click here..*)

You may read other Related Articles :

*Sukanya Samriddhi Account (SSA) – Features, Benefits & Review**Sukanya Samriddhi Yojana – Income Tax Benefits – Budget 2015/2016**Sukanya Samriddhi Account / Khatha – List of Authorized Banks**Comparison of Sukanya Samriddhi Deposit Scheme with Public Provident Fund (SSA Vs PPF)**New Interest Rates on PPF & SSA 2016-17*

Dear sir .

I have a 6 month doughter

Mujhe aapni beti ke liye every month iss scheme me invest karna hai so mujhe every month kitna pay karna hoga and mujhe after 14 kitna milega or after 21 kitna milega can you please batane ka kast karra

Dear gagan,

The minimum amount per year is Rs 1,000. Kindly use this calculator. The maturity amount depends on the contribution amounts.

Read: SSA new rules 2016.

kindly send me excel sheet or SSA calculator to calculate the maturity amount.

Dear Pappu..You may download it from this link..click here..

my daughter age 3 i have single invest 1 lakh in post office scheme my idea 1 lakh deposit saving a/c every months 1000 amt auto debit go to SSA account in ECS my 2 benefit saving a/c interest 4 % and SSA amount

pls suggest me ,if i paid par month 1000/- after 21 year what is my maturity amount.aand tell me how to calculate

Dear Feroz,

Suggest you to kindly go through below articles;

My review on SSA

SSA Calculator

Kid’s education goal planning

DEAR MR REDDY

I WOULD LIKE TO INFORM YOU THAT DURING THE PAST 5 MONTH. I HAVE DEPOSIT TO POST OFFICE SUKANYA SAMRIDDHI DEPOSIT SCHEME RS 2000 PER MONTH. BUT TO MEET THE REQUIRED AMOUNT WHICH IS 150,000 PER YEAR. I NEED TO PAY 12,500 PER MONTH AND COVER THE DIFFRENCE OF PAST 5 MONTH WHICH IS 52,500 AS WELL.

PLS BE ADVISE SHALL I DO THE SAME…?

Dear RAJESH..Yes, you can do so.

I have a two years old daughter & want to open an account in sukanya samridhi yojana @ Rs12000/- per month.I want to know that after 21 years what is my maturity amount.calculate the amount .

Dear Raj,

Kindly use the calculator available in this article..click here..

Dear Sreekanth, I have 1 daughters , DOB 25.05.2013 . Will you please send me the maturity calculator of SSA after 14 & 21 year

Dear Suneet, kindly download the SSA calculator – Click here.

Dear Mr. Sreekanth,

kindly send me excel sheet to calculate the maturity amount.

Thanks,

suchi

Dear Suchi..sent, kindly check your inbox.

Dear Sreekanth, I have 2 daughters , DOB 26.11.2009 and 11.12.2012. Can I open two SSA? Will you please send me the maturity calculator of SSA

Dear Archana,

You can open two SSA accounts. Do note that you can only claim tax benefits of upto Rs 1.5 Lakh .

Dear Sreekanth , The monthly remittance in the SSA scheme is flexible or fixed. For example can I remit Rs 1000 in the first month and increase the remittance to Rs 5000 in the second month

Dear Archana..yes, you may do so.

Can I avail loan against the amount deposited at any point of time

Dear Archana,

No loan facility is available on SSA.

Hi Sreekanth,

This is Srujan, i am looking for a financial advisor for my investment, can you pass me your contact number to get in touch with you regairding suggestions of my investments.

Please email me your contact number.

awaiting for your reply

Srujan.

Dear Srujan,

Request you to contact me @ sreekanth [at] relakhs.com

I really want to start SSA account for my baby. I am waiting for bank to start account for easy transaction.

Hope banks are not interested to start SSA, because no gain for them like housing loan and personal loan.

Any update?

Dear jjjjeeve,

Suggest you to open the account in nearest post office and can transfer the account to a bank at a later point of time.

hi shree,

i have daughter she was born on 18th july,2014, if i will pay every year 12,000 in this scheme, so can you let me know how much we will get on maturity time .. please explain me with calculation in excell sheet.

thanks in advance. waiting for your promt reply.

regards,

vishal jain

Dear Visal,

The maturity amount can be around Rs 6.3 Lakh.

HI,

I have Open SSA in Post for my both Daughter. I want to know Interest rate Fix for all term 21 year which Interest during Account Opening. or it will change every year ?

Because some one tell me Interest rate will be same as available during account opening interest rate.

Kindly revert.

Dear Babu,

Rate of Interest may vary every year.

I have two daughter’s and my second child was born on 03-Sep-2006. Are we eligible to apply for Sukanya Samriddhi Account/Yogna.

Dear Hemant,

What is the Date of Birth of your first child?

will BANK start SSA? i am waiting for that to start SSA in bank.

Banks may soon start offering SSA. (List of authorized banks )

Dear Mr. Sreekanth,

kindly send me excel sheet to calculate the maturity amount.

Thanks,

shoma

Dear Shoma…sent..kindly check your email..

Hi Shree,

When Banks are reducing the interest rate of fixed deposits, FM is only interested to hike the interest rate of SSA and Sr. citizen scheme. Although this will definitely help this scheme to take off as it is giving the max interest rate, but do you smell some kind of political influence as well behind this? I hope they will keep the interest rate of Sukanya scheme in higher bracket always in coming years as well.

Dear Santanu,

My point is, given the current micro conditions the interest rates across all the small savings schemes should actually fall. So, even keeping the rates unchanged may also lead to imbalances right? Banks may decrease interest rates on FD deposits this FY. Where is the level playing field then?

Regarding SSA interest rate hike , i don’t sense any scam kind of thing..:)

But, the current govt is trying to push SSA scheme aggressively. What is your opinion?

Dear Sir

pls suggest me ,if i paid par month 2000/- after 21 year what is my maturity amount.aand tell me how to calculate .

thank u sir

Dear Smruti,

You may receive around Rs 12 Lakh.