In India, banks and post offices offer a variety of amazing investment opportunities that guarantee the best saving options for girls. But in order to evaluate them and choose the best investments for their child, parents must have a complete understanding of these possibilities.
Sukanya Samriddhi Yojana (SSY)
The girl child’s name must be used while opening the account. The minimum and maximum annual investments range from Rs 250 to Rs 150,000. The parents can afford the annual cost. The parent or legal guardian of a girl child between the ages of zero and ten may open an account in the child’s name under the Sukanya Samriddhi Yojana (SSY).
National Savings Certificate (NSC)
A low-risk government-sponsored scheme called the National Savings Certificate (NSC) is available at post offices all over India. With a tonne of options, this investment plan is perfect for Indian girls.
Post-Office Term Deposit (POTD)
Another alluring investment plan for girls is the Post-Office Term Deposit (POTD), which is similar to a bank FD or fixed deposit. The rates for the post office 1-year, 2-year, 3-year, and 5-year time deposits have been increased to 6.6%, 6.8%, 6.9%, and 7%, from 5.5%, 5.7%, 5.8%, and 6.7% respectively.
Read More: Why is NPS the best retirement planning & tax saving tool in 2023?
Unit Link Insurance Plan
The Unit Link Insurance Plan, or ULIP, is one of the best plans for a female child in the nation and is another financial option that Amit Gupta suggests you consider for your daughter.
