Which scheme is best for child in post office?

Which scheme is best for child in post office?

Comparison of the Various Post Office Savings Schemes

Scheme Interest Rate Eligibility
Kisan Vikas Patra (KVP) 6.9% p.a. (Compounded annually) Individual (Adult)
Sukanya Samriddhi Accounts 7.6% p.a. (Compounded annually) Girl Child – up to 10 years from birth and one additional year of grace

How many years need to pay for Sukanya samriddhi Yojana?

15 years
You can deposit money in an SSY account either once per financial year or in smaller, regular instalments. However, you need to make a minimum payment of Rs. 250 per financial year to keep the account active and running and follow this criterion for a minimum payment period of 15 years.

How much I will get in Sukanya samriddhi Yojana?

The table below shows the calculations. If you deposit Rs 1,50,000 each year for 15 years in the SSY account, you will get Rs 42.48 lakh after 15 years. You will continue with the SSY account until the end of the maturity period (21 years) without any further deposits. You will get Rs 65.93 lakh at maturity.

Which plan is best for child?

Best Child Investment Plans

Plan Name Entry Age
HDFC SL Youngstar Super Premium Child Plan Life option- 18/65 years Life & Health Option-18/55 years
ICICI Pru Smart Kid’s Regular Premium 20/54 years
Kotak Head start Child Assure Plan 18/60 years
LIC – New Children’s Money Back Plan 0/12 years

Which is best child plan?

How can I invest a girl child?

List of 10 Best Investment Plans for a Girl Child in India 2022

  1. Sukanya Samriddhi Yojana (SSY)
  2. Children Gift Mutual Fund.
  3. National Savings Certificate (NSC)
  4. Post-Office Term Deposit (POTD)
  5. Unit Linked Insurance Plan (ULIP)
  6. Systematic Investment Plan (SIP)
  7. Post-Office Recurring Deposit.
  8. Public Provident Fund (PPF)

How many times we can deposit money in Sukanya Yojana?

Subsequent deposits in multiples of ₹ 100 and there are no limits on the number of deposit a member can do in a month of a financial year. Investments made for Sukanya Samriddhi Yojana account and maturity amount are fully exempted from tax under section 80C of the Income Tax Act.

What if I deposit more than 1.5 lakh in Sukanya Samriddhi Yojana?

However, an amount deposited in excess of an annual ceiling of Rs. 1,50,000 may be withdrawn anytime by the depositor. Hence, keep an eye on this maximum limit of investment per year. Otherwise, your money will not earn a single rupee of interest.

Can I open 2 Sukanya Samriddhi Account?

Rules for opening Sukanya Samriddhi Account You can only open and operate one account in the name of the girl child. You can’t open two accounts for one girl. The parents or legal guardians of a girl child (up to 10 years old) can open this account with a notified bank or post office in the name of the girl.

Where should I invest for kids?

PUBLIC PROVIDEN FUND (PPF)/ DEBT FUND OR FIXED DEPOSIT (FD): PPF is the most popular tax-saving investment plan and long term investment scheme which can be opened in post office or banks. The interest rate on the PPF is market linked now and one can invest up to Rs 1 lakh in a year.

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