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Securing the life and future of your daughter with the best investment plan for girl child in India is as important as securing the future of your son. In fact, giving the girl child proper education to build a prosperous career is necessary so that she can be financially independent and stand on her own.
So, if you are a parent of a girl child, you must look for the best investment options available in India to secure her future. The best saving plan for girl children should encompass features that help the child in availing greater opportunities in higher education and fulfilling their aspirations.
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In India there are many good investment options offered by banks and post offices that ensures better future for a girl child. But it is important for parents to know about such plans in detail so that they can evaluate them and can gain maximum benefit from them as per their requirement.
SSY or Sukanya Samriddhi Yojana is the best investment plan for girl child. This is a saving plan crafted especially for girl children in India. This scheme target parents of girls and support them to financially secure the future of their daughter’s by opening an account in either a commercial bank or a post office. The SSY scheme was initiated by the Indian Government under the campaign named; ‘Beti Bachao Beti Padhao’ and is available at 7.6% current interest rate.
Since the interest rate of SSY keeps changing, it is better to ensure the same while planning to open an SSY account. As per government rule, a single family can benefit by opening maximum two accounts for 2 girls of the family. The maturity of SSY account takes place in 21 years.
Documents Required to Open a Sukanya Samriddhi Yojana (SSY) Account
Benefits of Sukanya Samriddhi Yojana (SSY)
Another best scheme for girl child in India suitable for your daughter is the Children Gift Mutual Fund. This scheme offers a blend of debt limits and equity. This scheme doesn’t allow premature withdrawal and is available with a restriction period of 18 years. However, the lock-in period helps in creating high returns on the plan.
Eligibility Criteria for Children Gift Mutual Fund
This investment plan can be created in the name of your minor daughter/girl child by parents/guardians on her behalf.
Benefits of Children Gift Mutual Fund
This is a low-risk scheme initiated by the government and is available with the post-offices across India. This investment schemes for girl child is loaded with features and suits aptly for girl child in India. It facilitates a fixed income and definite returns to generate best revenues. Similar to SSY, this plan is currently available at 6.8% rate of interest per annum.
Features of National Savings Certificate (NSC)
Benefits of National Savings Certificate (NSC)
This is another good investment scheme for girl child which is similar to a bank FDs or fixed deposit. Here, you save money for a particular period of time to earn definite returns. The maturity amount under this plan includes the amount deposited along with interest earned on it.
Features of Post-Office Term Deposit (POTD)
Benefits of Post-Office Term Deposit (POTD)
The Unit Link Insurance Plan or ULIP as they are normally called is another recommended investment option and the best saving plan for girl child in the country that you can adopt for your daughter. This plan presents high returns on investment and is available in the form of a combination plan – life insurance + investment options – to offer multiple benefits.
Benefits of Unit Linked Insurance Plan (ULIP)
There are numerous insurance companies, banks and post offices offering various plans to secure your girl child’s future. These plans help parents generate enough income to use for the higher education and bright future of your daughter. However, they should evaluate the schemes well to obtain the best plan for girl child suiting their needs and the higher education aspirations of their daughter.
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