Indian banks and post offices offer some of the most reliable and profitable Government schemes for a girl child to help parents or guardians secure their child’s future wealth. These plans can be purchased for a girl’s marriage, a wealthy future, higher education, large savings, etc. However, with all these perks usually, parents or guardians forget to compare the best available government schemes in the market for girls. It’s a healthy and intelligent practice to analyze all aspects of an investment scheme before opting for it.
Here are the 5 Most Profitable Government Schemes for Girl Child of 2023:
Sukanya Samriddhi Yojana or SSY
Under the SSY Government scheme, parents or guardians of a girl child, aged between 0-10 can open an investment account in the child’s name. From the date of account opening to 15 years the contributions will have to be made either monthly or annually. Currently, SSY offers an interest rate of 7.6 percent. Furthermore, the minimum investment amount to open a Sukanya Samriddhi Yojana account has been reduced to ₹250 from ₹1,000 and the maximum contribution amount in a financial year is ₹1.5 Lakh.
Children Gift Mutual Fund
Children Gift Mutual Fund investment plan offered by the Government is another excellent savings option for your Girl Child. This scheme limits your liabilities and increases returns with the power equity investment.
National Savings Certificate (NSC)
The National Savings Certificate or NSC is a long-term savings scheme backed by the Government itself. In the case of a girl child, the perks and advantages of these schemes are the most ideal ones to save her financial future.
Post-Office Term Deposit
Post-Office Term Deposit or POTD, comparable to a bank For fixed deposit, is another attractive investing strategy for girls. The rates for the post office 1-year, 2-year, 3-year, and 5-year time deposits have been hiked to 6.6%, 6.8%, 6.9%, and 7%, from 5.5%, 5.7%, 5.8%, and 6.7% respectively. The rates for 5-year recurring deposits and savings deposits have remained unchanged at 5.8% and 4% respectively,” mentioned livemint.
Also read:EPF vs PPF: Where to Invest?
CBSE Udaan scheme
“The Central Board of Secondary Education (CBSE) has initiated and managed the CBSE Udaan scheme for females in collaboration with the Human Resource Development (HRD) Ministry of the Government of India.”
Shankar kumar very nice