Banks and post offices in India provide the best savings options for girls with a wide range of amazing investment opportunities. However, parents must fully comprehend these options in order to evaluate them and select the best investments for their child.
Sukanya Samriddhi Yojana (SSY)
The girl child’s name must be used to open the Sukanya Samriddhi Yojana (SSY) account. The annual investment minimum and maximum range from Rs 250 to Rs 150,000. The annual cost is within the parents’ means. Under the Sukanya Samriddhi Yojana (SSY), a parent or legal guardian of a girl child between the ages of zero and ten can open an account in the child’s name.
National Savings Certificate (NSC)
The National Savings Certificate (NSC) is a low-risk government-sponsored program that is available at post offices all over India. This investment strategy is ideal for Indian girls because it offers so many options.
Post-Office Term Deposit (POTD):
The Post-Office Term Deposit (POTD) is a similar investment option for women to a bank FD or fixed deposit. From 5.5%, 5.7%, and 6.7%, the rates for the 1-year, 2-year, 3-year, and 5-year time deposits at the post office have been raised to 6.6%, 6.8%, and 7%, respectively.
Unit Link Insurance Plan
The Unit Link Insurance Plan, or ULIP, is another financial option that Amit Gupta suggests you consider for your daughter. It is one of the nation’s best plans for a female child.
