10 Best Saving Scheme for Girl Child – Overview of Top Investment Plans for Girl Child in India


11 min read

Updated on Dec 18, 2023

Are you willing to secure the future of your daughter with an investment policy? If yes, here are the 10 best scheme for girl child in 2023 India, you can choose as an investment or saving plan for your girl child.

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 girl child investment plans or other 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.

In India, there are many good girl child investment plans and options offered by banks and post offices that ensure the best saving scheme for girl child. But it is important for parents to know about such plans in detail so that they can evaluate them and can choose the best investment policy for girl child to gain maximum benefit from them as per their requirement.

In this post, we will read about some of these best saving scheme for girl child in detail. But before that let’s discuss the benefits of these investment plans in brief.

Benefits of Investment Plans and Policy for a Girl Child

  • Child investment plans allow higher interest rates as compared to many other schemes
  • These plans help is saving tax as they allow tax exemption
  • These plans come with easy terms and conditions to support a child’s future

Here is a list of the 10 Best Policy for Girl Child in 2023 Offering High Returns:

  1. Sukanya Samriddhi Yojana (SSY)
  2. Children Gift Mutual Fund
  3. Post-Office Term Deposit (POTD)
  4. Unit Linked Insurance Plan (ULIP)
  5. National Savings Certificate (NSC)
  6. CBSE Udaan Scheme
  7. National Scheme of Incentive for the Girls of Secondary Education
  8. Balika Samridhi Yojana
  9. Post-Office Recurring Deposit
  10. Fixed deposit (FD)

1. Sukanya Samriddhi Yojana (SSY)

SSY or Sukanya Samriddhi Yojana is the best investment policy for the girl child. This is a savings plan crafted especially for girl children in India. This scheme targets 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.

Sukanya Samriddhi Yojana (SSY) plan eligibility, benefits, documents required, and other details:

Eligibility Documents Required Benefits
Girl child should be 10 years or below

The SSY account can be opened for a girl child only by her natural or legal guardian

Photo of applicant

Aadhaar number of parents/guardian

PAN of parents/guardian

Account holder’s (girl child) birth certificate

KYC documents (ID proof/ Address proof)

SSY accounts allow the highest return on tax deduction, and it comes with the EEE status

The contributions per year in this account (Rs. 1.5 lakh/year) is qualified for tax deduction under Section 80C of Income Tax Act

The sum received after the account matures is non-taxable

It presents incredible Tax Benefits

It requires a small amount (Rs. 250) to open a SSY account

The scheme help parents to save for their daughter’s higher education costs

You can deposit for 15 years, while the account matures in 21 years and allow you to earn continued interest on the amount you deposited

The account allows premature withdrawal in case of special needs of your daughter.

हिंदी में पढ़े: सुकन्या समृद्धि योजना क्या है, योजना के कर लाभ, योग्यता दर और पात्रता मानदंड जाने

2. Children Gift Mutual Fund 

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.

Children Gift Mutual Fund plan eligibility, benefits, and other details:

Eligibility Benefits
  • The account can be opened in the name of a minor daughter/girl child by her parents/guardians
  • Parents are required to submit documents to prove their relationship with the girl.
  • Investing in this plan will help accumulate long-term financial security
  • It allows parents to plan better for their daughter’s future life events
  • It is easy and uncomplicated to monitor funds under this policy
  • The plan incurs no tax until redemption
  • Tax applied at maturity is minimal

Also Read: Best pension plan in India

3. National Savings Certificate (NSC)

This is a low-risk scheme initiated by the government and is available with the post-offices across India. This investment scheme 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.

National Savings Certificate (NSC) plan eligibility, benefits, and other details:

Eligibility Benefits
  • Minimum investment – INR 1000
  • Maximum investment – No Maximum Limit
  • Interest Rate – 6.8%
  • Lock in tenure – 5 years
  • The plan offers higher fixed return on investment as compared to FDs
  • Tax Benefits – Up to Rs.1.5 lakh (as per Section 80C of Income Tax)
  • Available at an initial investment of Rs 1,000, which is very less
  • The Plan is available with a maturity period of 5 years
  • Easy to purchase from a post office

Also Read: NSC Premature Withdrawal

4. Post-Office Term Deposit (POTD)

This is another good investment scheme for girl childern 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.

Post-Office Term Deposit (POTD) plan eligibility, benefits, and other details:

Eligibility Benefits
  • Minimum deposit – INR 1000
  • Maximum Deposit – No Max. Limit
  • Lock-in period – 5 years
  • Transfer – Parents can move the account all across India
  • ROI – The Rate of Interest keeps changing. Check at the time of account opening
  • These are low risk schemes that ensure guaranteed returns
  • They are also small savings and low maintenance schemes
  • Offer income tax benefits under section 80C.
  • Offers Lucrative returns
  • Available at low minimum deposits

Also Read: Post Office RD Online Payment

5. Unit Linked Insurance Plan (ULIP)

The Unit Link Insurance Plan or ULIP as they are normally called is another recommended investment option and is one of the best policies for a 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. You can also use the ULIP calculator to check the premium amount and returns.

Unit Linked Insurance Plan (ULIP) plan eligibility, benefits, and other details:

Eligibility Benefits
  • Minimum Age – 18 years Maximum Age – 60 years maximum Maturity Age – 75 years
  • In the event of the death of parent/guardian, the insurer allows premium waiver option regarding the payment of the future premiums
  • Also, in the above case. the insurer facilitates the nominee with a month-based income to support her education
  • The girl child receives a total amount as payout in the event of sudden death of the guardian to meet regular expenses.

6. CBSE Udaan Scheme

The Central Board of Secondary Education (CBSE) has collaborated with the Human Resource Development (HRD) Ministry, Government of India to initiate and manage the CBSE Udaan scheme for girls. The plan aims to support girls in getting enrolled in prominent colleges of engineering and technical studies across India.

CBSE Udaan Scheme eligibility, benefits, and other details:

Eligibility Benefits
  • Applicants who have secured 70% average marks in class 10 can enroll for the plan
  • The applicant must score 80% minimum marks in Science and Mathematics
  • The applicant must score a minimum of 8 and 9 GPA in Maths and Science
  • The plan offers online resources and free course material for girls in their 11th and 12th grades
  • Weekend virtual courses for girls in their 11th and 12th grades
  • Career opportunities for deserving female students
  • Study assistance and clarification facilities via a toll-free number
  • Consistent monitoring and tracking of students’ progress

Also Read: LIC premium without tax

7. National Scheme of Incentive for the Girls of Secondary Education

This is another pan-India scheme initiated by the Department of School Education & Literacy, which is a wing of the HRD Ministry, Government of India. The scheme supports girls of deprived classes of India who want to pursue secondary education. Under this scheme, girls of economically low classes receive INR 3000 as a fixed amount that can be used to complete their secondary education. The amount can be withdrawn after the girl completes her 10th grade.

National Scheme of Incentive for the Girls of Secondary Education plan eligibility, benefits, and other details:

Eligibility Benefits
  • The applicant must be unmarried
  • The girl child must be below 16 years of age
  • The candidate should be 8th pass and should have enrolled in the 9th grade
  • Must be studying in a school aided by Government
  • It is a centrally Sponsored Scheme
  • The girl child can withdraw the amount with interest upon reaching 18 year

Also Read: Senior citizen saving scheme

8. Balika Samridhi Yojana

This is a scholarship scheme that allows financial support to girls who are economically deprived and to their families. The scheme aims at raising the social status of girls. Besides, the scheme also works at increasing the age of marriage of girls and to increase their enrolment in school. This scheme is available for people of both rural and urban areas. Under this scheme, mothers of girl child are given a cash reward at the time of birth of the child. Further, the girl child is given an annual scholarship of an amount ranging between INR 300 to INR 1000 when she reaches school. Application form for this scheme can be downloaded from the website of Women & Child Development.

Balika Samridhi Yojana plan eligibility, benefits, and other details:

Eligibility Benefits
  • The girl child should be from a below poverty line (BPL) family
  • The girl child should be born on or after August 15, 1997
  • Annual scholarship for girlsA sum is offered at the time of birth of girl child

Also Read: How to reduce tds in salary

9. Post-Office Recurring Deposit

A post-office recurring deposit is another good investment policy for a girl child. The plan comes with a tenure of 5 years, which can be extended further by parents to generate high returns. This is a zero risk investment plan that can support the parents of girls to secure their future.

Post-Office Recurring Deposit plan eligibility, benefits, and other details:

Eligibility Benefits
  • Tenure of a post office RD is 5 years
  • Applicant should be an Indian National above the age of 18 years
  • Interest rate provided per annum is compounded quarterly
  • Investors must deposit a fixed amount at regular intervals

Also Read: LIC policy for girl child

10. Fixed deposit (FD)

Fixed deposit is another option for parents to save enough for their daughters. This plan helps parents to enhance their income. However, the interest rates of FDs are very low. But, it is a risk-free option for girl child investment. However, once you open the account, it is not possible to withdraw money early within in the lock-in period.

Fixed deposit (FD) plan eligibility, benefits, and other details:

Eligibility Benefits
  • Any applicant less than 60 years of age can apply.Parents of gild child can apply on behalf of their daughters The applicant must be a citizen of India
  • Better interest rates than regular savings account The plan allow tax benefits

Also Read: 50 lakh fd interest per month

Benefits of Girl Child Savings Schemes in India

Higher rate of interest As compared to the interest rates offered by other national and state banks, FDs and deposits in SSY are higher, which results in more money being saved
Tax Benefits Many schemes offered by the government exclude Income Tax benefits. However, with SSY, you can have savings in the form of tax-exemptions. This comes as a huge benefit in the long run
Simple Terms and Conditions The terms and conditions of SSY are plainly stated, which hardly leaves any speculation. Scheme doesn’t allow any early withdrawals due to the lock-in period. This ensures that the amount saved is used for the girl’s higher education or marriage

Child Plan vs Sukanya Samriddhi Yojana vs PPF 


Child Education Plan 

Sukanya Samriddhi Yojana

Public Provident Fund

Entry age

Up to 18 years

Up to 10 years

No age limit


5 years

21 years

15 years

Rate of interest

12 – 19%



Minimum amount required to open an account

Depends on the plan

INR 250

INR 100

Maximum amount invested per year

No limit

1.5 lakh

1.5 lakh

Can be Availed by

Both girl and boy child

Girl child only

Both girl and boy child

Premature withdrawal conditions

Can be withdrawn after 5 years

Can be withdrawn under sensitive conditions

Can be withdrawn in case of any critical illness or for education purposes

Penalty on premature withdrawal

No penalty if withdrawn after 5 years

Rate of interest reduced to normal post office saving schemes

1% reduction in ROI

Paperwork at withdrawal




Availability of lump sum payment to child in case of parents’ death


Not available

Not available

Monthly payment for child’s education in case of parents’ death


Not available

Not available

Nomination facility

Not available (parents receive the amount)

Not available (parents receive the amount)


Premium waiver facility


Not available

Not available

Risk factor

Low-risk investment

Low-risk investment

Low-risk investment

Popular General Insurance Companies India, 2023

To Conclude

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 polivy for girl child suiting their needs and the higher education aspirations of their daughter.

Also Read: Post Office Saving Schemes for Boy Child in India

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FAQs: Best Policy and Saving Schemes for Girl Child in India 2023

Which investment is best for a girl child in India?

One of the best investment plans for girl child at present is SSY or Sukanya Samriddhi Yojana which is available at a rate of interest of 7.6%. Other top investments suitable for girl child include:

Children Gift Mutual Fund
National Saving Certificate (NSC)
Post-Office Term Deposit (POTD)
Unit Linked Insurance Plan (ULIP)

Which is the best child plan to invest in India, 2023?

It actually depends on various things like your budget, economical background and your preferences in terms of investments. However, when it comes to investing for child plans, below are the options that one can seek to secure the future of their child:

National Saving Certificates (NSC)
Post-Office Term Deposit (POTD)
Unit Linked Insurance Plan (ULIP)
Sukanya Samriddhi Yojana (SSY)
Money Back Insurance Plans

Which plan is best for the child's future?

For a girl child in India, Sukanya Samriddhi Yojana is one of the best plans to secure her future. This plan is available with a good rate of interest and allows several benefits. Besides, there are several other plans that cater to children, such as, child insurance plans, Endowment Plans, Equity Fund, Money Back plans, ULIPs, Children Gift Mutual Funds, etc.

How do I start investing for my girl child kid?

It is better to start investing for the child from his/her birth onwards. Try to open a good investment account for your child, which could cater to his/her higher education goals. Also, you can buy term life insurances to secure the future of the child in case of any untoward situation that takes place with you. There are many good investment plans to start with depending on your budget and preference. You can start with one of the below mentioned plans:

National Saving Certificates (NSC)
Post-Office Term Deposit (POTD)
Unit Linked Insurance Plan (ULIP)
Sukanya Samriddhi Yojana (SSY)
Money Back Insurance Plans

Also, look for plans that offer tax deductions so that you can save some tax and the maturity amount is also tax free. This will help the child with a lump sum amount at maturity to cater to his/her career and life needs.

Which is the best scheme to enrol a girl child in India?

SSY or Sukanya Samridhhi Yojana is one of the best schemes that is available at post offices as well as banks including some private banks.

Does the SSY scheme offer a loan facility against the amount saved?

No, the SSY account doesn’t offer any loan option. However, it allows the insured to withdraw up to half of the accumulated sum once the girl child turns 18 years or has passed her 10th exam.

What is the complete financial aid that can be availed under Sukanya Samridhhi Yojana?

Sukanya Samridhhi Yojana is an affordable savings scheme that is aimed at families with low income. Under this scheme, the girl child can avail a specific amount of money at plan maturity.

What is the key motive of the Beti Bachao Beti Padhao scheme?

The key aim of the scheme is to save the girl child from issues prevalent in the society such as abortions of girl fetuses as well as no proper means of education offered to the girl child etc.

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Mar 05, 2022
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