I have recently opened Sukanya Account for my daughter at 8.6% interest rate. The interest of Sukanya Samriddhi Yojana would be revised every quarter according to govt guidelines. I would like to know how the interest of SS account would be calculated? According to first installment interest rate(8.6%) through out 21 years?? or every year/quarter the interest would be calculated according to revised rates for that particular year/quarter??
And the same rule apply for PPF account also??
Yes, for Sukanya Samriddhi Yojana and PPF accounts, interest will not be constant, but changes as per quarterly interest rate. This quarterly interest rate will be notified by Govt time to time.
is this interest , govt can make it as below as 5% also , please correct , if i am wrong , because previously it is 9.1% and now it is 8.6% , if they are reducing like this , is their any use to put money in this scheme ? and our gr8 FM jaitely said once , that saving schemes interest rates are toooooo high , so he will make this scheme like hell , so can you please suggest on this , please
None can guarantee you. It may or may not go below 5%. Read my earlier post of how interest rate arrived on every quarter “Post Office Savings Schemes -Changes effective from 1st, April 2016“.