Find your suitable insurance plan
1502
6 min read
Updated on Jan 11, 2023
If you have become a parent of a newborn girl child, it is your responsibility to ensure that you provide the best of opportunities to your daughter in terms of fulfilling her educational goals and aspirations. Of course, knowing the interest and aptitude of a newborn baby girl is simply impossible. Thus, all you should care about is saving enough funds so that you can fulfill her dreams of seeking education in whichever field she wants when she grows up. So, what are the best possible ways to accumulate a corpus?
Here in this blog, we are discussing some of the newborn baby investment plans that a parent of a newborn girl child can choose to invest in.
To answer your query on the best investment plans for a newborn girl child in India, we would share some good policies that you can rely on. These include both private as well as government investment policies. If you consider investing in equities linked to the market, you might be able to earn decent returns to help you generate enough money for your daughter’s future.
Further, you also have the option to buy an insurance policy with a combination of savings/investment plans. Even the child education policy might serve fruitful as the best investment plan for kids in this case. Also, you can look for term insurance to secure her future after you leave the world for heavenly abode. In addition to these, you also have the option of exploring savings accounts and post office deposit schemes to gain further knowledge on the different investment policies that you can seek.
| Plans | Interest rates |
| Sukanya Samriddhi Yojana (SSY) | 7.6% |
| Children Gift Mutual Fund | – |
| National Savings Certificate (NSC) | 7.6% |
| Post-Office Term Deposit (POTD) | Fluctuates |
| Unit Linked Insurance Plan (ULIP) | Varies |
| Systematic Investment Plan (SIP) | Varies |
| Post-Office Recurring Deposit | 5.8% |
| Public Provident Fund (PPF) | 6.4% |
| Gold ETFs | Fluctuates |
| Fixed deposit (FD) | 6.5% (varies from bank to bank) |
Also Read : 5 Best Investment Plans for a Girl Child in India 2022
This is a plan crafted for young girls and was initiated by the Indian Government under the campaign called ‘Beti Bachao Beti Padhao’. Since this SSY account is available to girl children below the age of 10, it serves as the best policy for your daughter.
Investment Type – Savings Account
Features –
Also Read: Best Insurance Policy For New Born Baby in India
With a PPF account, parents of a girl child can invest their money for over 15 years, which is a long time. This is the best investment for newborn baby in India with high returns that fulfill the requirements of the parents of a newborn baby well.
Investment Type – Savings Account
Features –
Also Read: Where to invest 1 lakh
This is an Indian post office scheme that allows parents to open an account on behalf of a newborn baby girl. This is regarded as one of the most affordable and best investment plans in India.
Investment Type – Savings Account
Features –
Also Read: Post Office Scheme For Boy Child
Fixed Deposit, also called FD, is yet another saving plan which is apt for a girl child. Although the interest rate of FD is not that great, it can help parents to save money. Also, FD is zero-risk.
Investment Type – Savings Account
Features –
This is a plan to secure your girl child’s future monetarily by initiating investments in bonds or other market-linked funds. This investment also allows you to receive an accidental benefit and waiver on premium payout among other benefits. So under this plan, if the parents die, the girl child receives a lump sum amount and future premiums are also waived off. However, despite this the policy still goes on till maturity.
Also Read: 2cr FD interest rate
This investment plan can be availed by parents to invest to secure money for the higher education of their girl child. This is a long-term plan associated with market-linked finances. This plan allows you to enhance funds through debt and equity.
Also Read: Post office gram suraksha scheme
This is a financial protection plan meant for your girl child available with flexible benefits such as
Here, the insured can choose four types of funds as per his/her needs, such as;
This is another unit-linked best investment plan that can help you in enhancing your wealth and serves the double purpose of online term insurance protection as well as the life security of your daughter.
Also Read: ULIP calculator
It will help parents to save enough to secure the higher education of their daughter even if you are not there in her life. Here, you pay the premium for a particular period as per the age of the baby girl. Under this plan, the child gets a particular amount as she turns 17 and gets a lump sum amount for higher education at 18 and 21 years for education purposes.
This is another good investment plan for kids. This non-linked plan is crafted to protect the educational needs of your child in the future and offers guaranteed benefits. At 18, the girl child receives the benefits of the plan in four installments, which can be used for her education.
Read More: Why Invest in Child Insurance Policy?
Conclusion
Besides the above plans, you can also invest in mutual funds for your newborn baby including Equity Mutual Funds, Debt Mutual Funds, Children’s Gift Mutual Funds and so on. So, all the above options are available for you to invest in the future of your newborn daughter. All you need is to compare the best investment plans, read and understand the plans and choose the ones that serve your purpose best.
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To start investing for your baby, it is best to consider the following options:
1. Gold
2. Post Office Provident Fund Account
3. Fixed Deposits (FDs)
4. Life Insurance Policy
5. Mutual Funds
There are quite a many options when considering investment in mutual funds for a newborn. Some of these are:
Aegon Life Rising Star Child Insurance Plan
Exide Life Wealth Maxima Child Plan
LIC - New Children’s Money Back Plan
PNB Metlife Smart Child Plan
Sahara Ankur Child Plan
SBI Life - Smart Scholar
Star Life Bright Child Plan
TATA AIA Super Achiever Plan
It is always better to start saving for your child early on in life. Some of the best savings plans that you can invest in for your child include:
Sukanya Samriddhi Account
Public Provident Fund (PPF)
Gold Savings
Debt Mutual Funds
Equity Mutual Funds
If considering to invest in mutual funds for your child, do look at the following best fund options for higher future returns:
TATA Young Citizens Fund
ICICI Prudential Child Care
Axis Children’s Gift Fund
HDFC Children’s Gift Fund
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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