Are you looking for a scheme to secure your child’s future? A plan where investing can ease worries about your child’s education and marriage.
Every parent’s priority is securing their child’s future. The right investment plans can help achieve their dreams and goals.
There are several options available, each offering different benefits and advantages.
Here is some information about key schemes that can help secure your child’s future.
1. Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana (SSY) was launched by Prime Minister Narendra Modi in 2015 as part of the ‘Beti Bachao, Beti Padhao’ campaign, which aims to reduce the costs of daughters’ education and marriage.
Under this scheme, parents or guardians can open an account in the girl’s name, offering high interest rates and tax benefits on investments.
2. Public Provident Fund (PPF)
Parents can open a PPF account in their own name or in their children’s name.
PPF is a long-term investment option with a maximum annual investment limit of ₹1.5 lakh, and it also provides tax benefits.
3. Balika Samriddhi Yojana
Launched in 1993, this scheme targets daughters from families living below the poverty line (BPL).
It provides financial assistance of ₹500 at the birth of a girl child, and the government covers her education costs.
4. National Savings Certificate (NSC)
National Savings Certificate (NSC) is a fixed-term income scheme that can be easily opened at the post office.
Its key feature is that the minimum investment starts at ₹1,000, with no maximum limit.
An account can be opened in the child’s name when they are 10 years or older. This scheme offers safe returns along with tax benefits.
5. Kisan Vikas Patra (KVP)
Kisan Vikas Patra (KVP), launched in 1988, is a long-term savings scheme where the invested amount doubles in 115 months.
There is no upper limit on investment, and the minimum investment starts at ₹1,000. Parents can also invest in the name of their minor children.
